The increasing consumption of wood-plastic composites in the building and construction applications for decking and recent technological advancements in composite producing plants are some of the key factors driving the growth of the wood-plastic composites market.
Polyvinylchloride wood-plastic composites segment to register high growth due to its advantages over other types of WPC composites
PE is a thermoplastic material, which can be melted repeatedly. It becomes soft on being heated to a certain temperature, and then hardens on cooling. PE is a widely consumed type of WPC in the global market. Due to its various advantages, consumers prefer using it as compared to other types of WPC. PVC wood-composites are extensively used in the construction business as it is a low maintenance material. It is widely used in various countries such as the U.S., the U.K., and Ireland. This material has almost entirely replaced the use of raw wood, which has a tendency to rot after a couple of years.
Asia-Pacific market to register highest growth in the wood-plastic composites market by 2021
The wood-plastic composites market in Asia-Pacific is projected to register the highest CAGR between 2016 and 2021. The growth of Asia-Pacific wood-plastic composites market is driven by the increasing demand of wood-plastic composites from China and other countries in the region. China is the major consumer of wood-plastic composites in Asia-Pacific with high demand in building & construction and automotive components applications, followed by Japan and India. India wood-plastic composites market is estimated to grow at the highest CAGR between 2016 and 2021.