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Research Report on U.S. Wood Plastic Composite Market
- Categories:Industry News
- Author: HEXA RESEARCH
- Origin: ABNEWSWIRE
- Time of issue:2019-05-07 15:15
- Views:25
Research Report on U.S. Wood Plastic Composite Market
(Summary description)Due to increasing demand in the construction industry, the US wood-plastic composites market is expected to reach US$4.54 billion by 2025...
- Categories:Industry News
- Author: HEXA RESEARCH
- Origin: ABNEWSWIRE
- Time of issue:2019-05-07 15:15
- Views:25
Due to increasing demand in the construction industry, the US wood-plastic composites market is expected to reach US$4.54 billion by 2025. Increasing awareness of the properties of wood-plastic composites (WPC) such as better thermal stability, recyclability and stiffness is expected to drive market growth during the forecast period. In addition, due to the noise barrier properties and the booming construction and automotive industries, the application of landscape and street construction are expected to propel the expansion of the regional market. WPC's growing application in the manufacture of a variety of consumer products such as pencils, toys, lipsticks, cups and premium packaging is expected to fuel demand in the near future.
In terms of revenue, polyethylene has a larger market share due to its widespread application in high-performance operations such as construction and packaging. In addition, the eco-friendliness of this composites is expected to complement market. Polyvinyl chloride is expected to be the fastest growing segment of the forecast period due to its widely application in the automotive, furniture and construction industries. Commercial WPC used in the manufacture of high-end furniture, automotive units for luxurious cars and other wood infrastructures, make heavy use of polyvinyl chloride as a raw material.
During the forecast period, automotive is expected to become the fastest growing application segment in the wood-plastic composites market. Due to its high machinability, WPC are increasingly being used in the manufacture of automotive interiors, door panels and seat cushions. This factor is expected to provide growth opportunities in the coming years. WPC is used in the manufacture of high- and mid-range passenger vehicles. The growing demand for light vehicles to improve fuel efficiency and to reduce carbon emissions is expected to drive market growth.
Improving economy in U.S is expected to propel demand for commercial and residential construction and refurbishment activities. The increase of high-income populations leads to higher spending power, which is expected to drive demand for high-end vehicles. Due to the dimensional stability, low maintenance costs and extended life span of wood plastic composite, decking application is expected to expand at significant compound annual growth rates. Increasing consumer demand for products with high aesthetic appeal and long life span is expected to drive the market during the forecast period. Wood-plastic composites also prevent mold growth and premature aging of the deck, thus increasing adoption of the manufacturing decks.
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