LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global wood plastic composites (WPC) market is expected to reach USD 5,991.2 million by 2021, growing at a CAGR of more than 11%.
This research report titled ‘Global WPC Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. To calculate the market size, the report considers the sales of WPC products in key applications such as building and construction, automotive, industrial and consumer goods sectors.
The global WPCs market is expected to grow rapidly owing to the increasing production of composites and the rise in demand from regions such as South America and countries such as Russia, China, and India. The entry of various vendors offering WPCs is fueling consumption in these countries. For instance, in August 2015, GS Group launched a pilot WPC production plant in Ulyanovsk, Russia, which is set to manufacture granulated WPC products that are extruded and injection molded.
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Technavio’s chemicals and materials analysts categorize the global WPC market into four major segments by product type. They are:
- Polyvinyl chloride
- Other polymers
The three major product segments for the global WPC market are:
Global polyethylene WPCs market
Polyethylene is one of the widely used thermoplastic polymers. HDPE, low-density polyethylene (LDPE), linear LDPE (LLDPE), and ultrahigh molecular weight polyethylene (UMWPE) are some of the different types of polyethylene available that suit a specific application. In the global WPCs market, polyethylene is expected to fare well and continue to hold the leading share during the forecast period
According to Ajay Adikhari, a lead bio-chemicals and bio-materials research analyst from Technavio, “The surplus availability of recycled HDPE in the US is driving the use of polyethylene as the most preferred matrix polymer. On the contrary, PP is the preferred matrix polymer in Europe. The trend is slowly shifting even in Europe owing to the better UV stability of polyethylene.”
Global polyvinyl chloride WPCs market
PVC is an appropriate alternative to conventional materials such as glass, copper, iron, and wood in various applications owing to its operational efficiencies and benefits. The polymer has high hardness and mechanical properties, which are enhanced with increasing molecular weight and low temperature.
“PVC is manufactured from ethylene derived from the oil and gas industry. It can also be manufactured using various hydrocarbons, including derivatives of plants, sugarcane, and coal. WPCs made of PVC matrix are widely used for manufacturing windows, they are now being used in the decking segment as well,” says Ajay.
Global polypropylene WPCs market
PP is an unsaturated polyolefin. It is semi-rigid in nature and offers good chemical, heat, and fatigue resistance even at high temperatures. The grade of PP is chosen depending on the specification required, processing method, and the cost associated. Homopolymers, copolymers (5%-15%, ethylene), and random copolymers are the commonly available grades.
Injection molding, blow molding, and general purpose extrusion are some of the widely-employed processing methods for PP. Prototype development on CNC machines and 3D printers using PP matrix is on the rise in Europe as these filaments are readily available.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Advanced Environmental Recycling Technologies (AERT)
- CPG International
- Trex Company
- Universal Forest Products
Browse Related Reports:
- Global Engineered Wood Products Market 2016-2020
- Global Decking Market 2016-2020
- Global Timber Decking Market 2016-2020
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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