Wood-plastic composite has high durability, bending strength, shear strength, low moisture content, and low water absorption, as compared to conventional wood products. These properties have made it viable for use in railings, windows, doors, exterior siding, fencing, flooring, interior molding, and landscape materials. Thus, end-users are increasingly preferring wood plastic composite products over conventional wood products.
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The rising demand for single-family rental homes is surging in U.S. Builders are focusing on redesigning the models which are expected to boost product demand over the coming years. In addition, over 70% of the large urban regions saw a boost in infill housing development in 2018. The rise of infill development is projected to create opportunities for wood plastic composite manufacturers over the forecast period.
Wood-plastic composites have a lower melting temperature as compared to conventional wood products, which lowers the energy cost for end-users and also reduces the environmental impact of the product. Wood-plastic composite can be worked upon by the same tools utilized for wood products. This factor eliminates the investments to be made by the manufacturers and the risks associated with recouping the same.
The biggest tech companies such as IBM, Microsoft, and Cisco are investing in megaprojects to build smart and sustainable cities across the globe. The investments in these cities are expected to reach USD 135 trillion in the next two years. In addition to these cities, international megaprojects such as Hudson Yards and Maslar City have created opportunities for interior construction manufacturers resulting in surging the wood plastic composite demand over the coming years.
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The Market Growth Of Wood Plastic Composite
The global wood plastic composite market size was estimated at USD 5.3 billion in 2019 and is expected to register a growth rate of 11.4% over the forecast period. The market is driven by the rising demand for sustainable construction materials along with an increase in the renovation and repair activities in the residential sector across the globe.
- Wood flour is hygroscopic in nature and must be wetted properly with the use of a thermoplastic matrix, otherwise, it can absorb moisture which leads to weak mechanical properties, unwanted odors, and microbial attacks. The technique requires complex machine arrangements and skilled laborers resulting in increasing the overall cost of the products. This, in turn, can restrict the market for wood plastic composite over the next eight years.
- Growing demand for polyvinylchloride thermoplastics in automotive applications for manufacturing door panels, seat cushions, cabin linings, backrests, and dashboards on account of its excellent insulation properties is expected to have a positive impact on the market for wood plastic composite, over the forecast period.
- The polyethylene segment is one of the fastest-growing product segments on account of its high demand for manufacturing furniture for homes, offices, restaurants, resorts, and hospitals. Moreover, the rising demand for polyethylene composites in the automotive industry owing to their low cost, high stiffness, and biodegradability is expected to further propel market growth over the coming years.
- In terms of application, the wood plastic composite market is categorized into building and construction, automotive components, industrial and consumer goods, and others. Eradication of barriers to promote foreign investments coupled with changing consumer focus towards green buildings is projected to boost the demand for wood-plastic composite in the construction industry over the coming years.
Conclusion
“Wood Plastic Composite (WPC) – Manufacturing Plant, Detailed Project Report, Profile, Business Plan, Industry Trends, Market Research, Survey, Manufacturing Process, Machinery, Raw Materials, Feasibility Study, Investment Opportunities, Cost And Revenue” is the project report by NPCS. The report by NPCS has helped many of the engineers, project consultants & industrial consultancy firms in India and worldwide. You can get this and other project reports too on the official website of NPCS.
Related Project: – Wood Plastic Composite (WPC)
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