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Wood Plastic Composite (WPC) Market Forecast 2019-2027

Wood Plastic Composite (WPC) Market Forecast 2019-2027

  • Categories:Industry News
  • Author: HOSUNG
  • Origin: HOSUNG
  • Time of issue:2019-06-06 13:36
  • Views:70

Wood Plastic Composite (WPC) Market Forecast 2019-2027

(Summary description)Europe is expected to become the third-largest market for wood-plastic composites in the world...

  • Categories:Industry News
  • Author: HOSUNG
  • Origin: HOSUNG
  • Time of issue:2019-06-06 13:36
  • Views:70
Information

EUROPE WPC MARKET FORECAST 

 

 

Europe is expected to become the third-largest market for wood-plastic composites in the world. During the forecast period of 2019-2027, the Europe wood-plastic composite market is expected to rise with the highest compound annual growth rate of 11.86% by 2027. In terms of volume, it is expected to escalate at a compound annual growth rate of 10.36%.

 

The European WPC market includes Germany, the United Kingdom, France, Russia, Italy, Spain and other parts of Europe. In Europe, WPCs are increasingly being used in the production of furniture, technical parts, consumer goods and household electronics using the injection molding and extrusion processes. The German WPC market dominated the European market in 2018. Germany is the European automotive center, so it is one of the major wood-plastic composites users in the world. In the UK, the application of recycled plastics and wood is becoming more and more popular, leading to the widespread use of wood-plastic composites in many applications. Rest of Europe (ROE) market, including Austria, Switzerland, Portugal, Spain and others, which are major consumers of thermoplastic types such as polyethylene (PE) and polyvinyl chloride (PVC).

 

 

Asia Pacific WPC Market Forecast 

 

 

The Asia Pacific wood-plastic composites market is expected to rise at the highest compound annual growth rate of 12.96% during the forecast period of 2019-2027. In terms of volume, it is expected to escalate at a compound annual growth rate of 11.45%.

 

China, Japan, India, South Korea, Australia and the Rest of Asia (Singapore, Malaysia and Thailand), the growing demand from these countries, coupled with the advent of the new manufacturing processes and recyclable raw materials, which are presenting the market with potential growth opportunities. In terms of revenue growth, the China market dominated the APAC in 2018. WPC has a prominent position in the building and construction sector in China. The Japanese market is also constantly evolving. Japanese automakers are increasingly using plastic composites made of wood, straw, rice and other materials to reduce the cars’ weight and reduce the carbon footprint. Due to its widespread application in building & construction and automotive components, the Indian market is expected to rise with the highest compound annual growth rate during the forecast period.

 

 

North American WPC Market Forecast 

 

 

The North American wood-plastic composites market is expected to rise at the highest compound annual growth rate of 10.13% during the forecast period of 2019-2027. In terms of volume, it is expected to grow with a compound annual growth rate of 8.66%.

 

North America is the leading hub for modern technology, attracting top global companies into setting up manufacturing units in this region. The United States holds the largest share of the North American wood-plastic composites market, followed by Canada.

 

Due to the increasing demand in various application fields, the wood plastic composites market in Canada has also been experiencing a positive growth in recent times. 

 

 

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