SAN FRANCISCO, November 13, 2018
SAN FRANCISCO, November 13, 2018 /PRNewswire/ --
The global wood plastic composite market size is expected to reach USD 8.15 billion by 2025, according to a new report by Grand View Research, Inc., exhibiting a 9.3% CAGR during the forecast period. Rising applications in outdoor and indoor furniture, automotive units, and construction is anticipated to propel industry growth over the forecast period.
The building and construction sector is a leading consumer of WPC products, followed by the automotive and consumer goods industries. Leading manufacturers in the industry are focusing more on R&D pertaining to use of advanced polymers in order to improve durability.
Adoption of natural fiber plastic materials as a substitute to wood plastic composite products is anticipated to pose a challenge to the market. Natural fiber plastic material products have very similar applications to WPC and can be employed in the manufacturing of fences, railings, cladding, landscaping timbers, park benches, door frames, and more.
Rising market saturation in North America and Europe is likely to impact the industry over the next decade. Major participants in the industry are moving their operations to more developing markets, with Asia Pacific emerging as the most lucrative destination.
Browse full research report with TOC on "Wood Plastic Composite Market Analysis Report By Type (Polyethylene, Polypropylene, Polyvinylchloride), By Application (Automotive, Construction, Industrial & Consumer Goods), And Segment Forecasts, 2018 - 2025" at: https://www.grandviewresearch.com/industry-analysis/wood-plastic-composites-market
Further Key Findings From the Report Suggest:
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Grand View Research has segmented the global wood plastic composite market on the basis of type, application, and region:
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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