Product Insights

The market is divided into polyethylene, polypropylene, polyvinyl chloride and others according to product type. Polyvinyl-based wood-plastic composites are expected to dominate the market, followed by polyvinyl chloride. The superior stability and construction offered by polyethylene are expected to drive demand for these products in high performance applications such as construction and packaging.

Application Insights

The market is subdivided by applications such as building and construction, automotive components, industrial and consumer goods and others. The building and construction industry accounted for the majority of the market share. This can be attributed to increased infrastructure development activities, especially in developing countries, and the growing demand for aesthetically pleasing flooring and furniture solutions worldwide.

Compared to fiberglass, the product exhibits excellent properties, including high durability, excellent performance and low maintenance costs, resulting in increasing application of such composite including garden furniture, benches, docks, sheet pilings, doors and sidings.

Decking applications dominate the global wood-plastic market, accounting for more than 80% of the total demand for wood-plastics in building and construction applications. Due to the growing demand for bio-based products for manufacturing automotive interior parts such as seat cushions, cabin linings and backrests, the automotive market is expected to grow substantially.

Regional Insights

The demand for wood-plastic composites in German automotive industry was worth more than $30 million in 2015. Rapid growth of the auto industry in the region, as well as the presence of major auto companies such as BMW, Audi, Opel, Daimler AG and others. Volkswagen is expected to stimulate demand for wood-plastic composites market during the expected period.

Due to the rapid development of construction and automotive industries, products in the Asia Pacific are expected to grow substantially. Increasing disposable incomes as well as changing consumer lifestyle in the emerging economies, including Japan, India, Indonesia and Thailand, are expected to drive demand for premium cars in the region, which in turn may have a positive impact on the wood plastic components market growth during the expected period. In addition, China's growing electronics and consumer goods manufacturing industries, coupled with the expanding application of bio-based products in these industries, which may drive demand for wood-plastic composites.