7 May 2019, The U.S. wood plastic composite market size is anticipated to reach USD 4.54 billion by 2025 owing to increasing demand from construction sector. Rising awareness regarding properties of wood plastic composites (WPCs) such as better thermal stability, recyclability, and stiffness is expected to propel market growth over the forecast period. Furthermore, rising application scope in landscaping and street constructions due to noise barrier characteristics coupled with booming construction and automotive industries are expected to fuel regional market expansion. Rising application of WPC for manufacturing various consumer goods such as pencils, toys, lipsticks, cups, and high-class packaging is projected to propel demand in near future.
In terms of revenue, polyethylene held larger market share owing to extensive applications in high performance operations such as construction and packaging. Moreover, eco-friendliness of this composite is expected to complement market. Polyvinylchloride is expected to be the fastest growing segment over the forecast period as it is widely used across automotive, furniture, and construction industries. Commercial WPCs used in manufacturing high-end furniture, automotive units for luxurious cars, and other wooden infrastructure, make heavy use of polyvinylchloride as a raw material.
Automotive is expected to be the fastest growing application segment in the wood plastic composite market over the forecast period. WPCs are increasingly being used in manufacturing car interiors, door panels, and seat cushions owing to their high machinability. This factor is projected to provide growth opportunity in the forthcoming years. WPC is used in high- and mid-range passenger vehicle manufacturing. Rising demand for lightweight automotive to boost fuel efficiency and to reduce carbon emissions is expected to propel market growth.
Improving economy in U.S. is expected to drive demand for commercial and residential construction and renovation activities. Rising high income population resulting in higher spending power is expected to propel demand for high-end vehicles. Decking application is expected to witness expansion at a significant CAGR owing to dimensional stability, low maintenance cost, and extended life span of wood plastic composite. Increasing consumer demand for products with high aesthetic appeal and longevity is expected to propel the market over the forecast period. Wood plastic composite also prevents growth of mold and premature aging of deck, thus increasing adoption in manufactuing decks.
Browse Details of Report @ https://www.hexaresearch.com/research-report/us-wood-plastic-composite-market
The U.S. wood plastic composite market is moderately consolidated, with presence of numerous manufacturers. Companies are adopting backward integration strategy to compete in growing marketplace. Backward integration provides competitiveness over price and quality. Furthermore, companies are investing in research and development activities to innovate products with more strength and durability. Prominent companies include Advanced Environmental Recycling Technologies, Inc.; Axion International, Inc.; CertainTeed Corporation; and Fiberon, LLC. Few large companies such as Cairn International and Entec have raw material extraction and purification units for manufacturing Polyethylene (PE), Polypropylene (PP), and Polyvinylchloride (PVC) among other products.
Hexa Research has segmented the U.S. wood plastic composite market report based on product, application and end use
Segmentation by Product • Polyethylene • Polyvinylchloride • Polypropylene • Others
Segmentation by Application • Building & Construction • Automotive • Industrial & Consumer Goods • Others
Segmentation by End Use • Decking • Molding & Siding • Fencing
Key players analyzed: • Advanced Environmental Recycling Technologies, Inc. (AERT) • Axion Structural Innovations LLC • CetainTeed Corporation • Fiberon • Fkur Kunststoff GmbH • Renolit • TAMKO Building Products, Inc. • TimberTech • Trex Company, Inc. • Universal Forest Product
Browse Related Category Reports @
Aerospace Composites Market: –Growing adoption of composite materials to develop mechanically strong and aesthetic interior parts of aircraft, such as eat frames, lavatories, cabin components, and storage bins, can propel Aerospace Composites Market growth in the forthcoming years.
Microwave Absorbers Market : –Growing demand for light-weight and broadband products owing to rising need for defense security and electronic reliability is one of the key factors driving the Microwave Absorbers Market.
About Us:Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.
More Information Visit @ www.hexaresearch.com
Media ContactCompany Name: Hexa ResearchContact Person: Ryan ShawEmail: Send EmailPhone: +1-408-342-1548, Toll Free:+1-800-489-3075Address:Felton Office Plaza, 6265 Highway 9 City: FeltonState: CaliforniaCountry: United StatesWebsite: www.hexaresearch.com/research-report/us-wood-plastic-composite-market
