The global wood plastic composite market is expected to reach $9.77 billion by 2024, according to a new report by Grand View Research Inc. Increasing demand for wood plastic composites in construction industry particularly in decking, fencing and molding and siding applications is expected to be the key driver for the market growth.
The entire report covers the major drivers and restraints for the wood plastic composites market along with its impact on the demand during the forecast period. In addition, the report contains the detailed study of opportunities to be had in the wood plastic composites market on a global level.
Polyethylene wood plastic composites segment to have the highest share in the market till 2021. Polyethylene is largest wood-plastic composite type, capturing more than half of the total global wood-plastic composite market share in 2015 among type segments. It is anticipated to grow with a healthy CAGR for the forecast period.
In 2017, North America dominated the global wood plastic composite (WPC) market. Growing Use of Recyclable Materials in Automotive Production to Drive the Market Wood-plastic composite is a sustainable green material which provides durability without the use of toxic chemicals.