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Led by demand from building || construction sector, WPC market to grow well globally

Led by demand from building || construction sector, WPC market to grow well globally

The global wood-plastic composites (WPC) market was valued at US$2.64 bln in 2012 and is anticipated to reach US$5.39 bln in 2019, expanding at a CAGR of 10.8% between 2013 and 2019, as per Transparency Market Research report. According to the report, the global WPC market is rising owing to the increasing demand from building and construction industry. In addition, development of the global automobile industry, along with strict environmental regulations, has also fuelled the market. Also, products such as decking boards made out of WPC are superior in quality in comparison to products manufactured from plastic or wood in isolation, thus increasing their demand. Furthermore, WPC are substituting plastics and steel in a number of interior vehicle components such as the internal trim of door panels, dashboards, backrests, seat cushions and other interior liners. On the other hand, emergence of a number of other natural fibers including straw fiber, seed fiber and leaf fiber is predicted to impede the development of the market in the coming years. On the basis of product, the market is segmented into polyethylene WPCs, polyvinyl chloride WPCs, polypropylene WPCs, and others including polystyrene, ABS, and polylactide. Amongst these, polyethylene WPCs led the market in 2012 with a volume share of more than 60% and this trend is predicted to continue in the forecast horizon. The segment of polypropylene WPCs is predicted to exhibit an above-average growth in the forecast horizon. The segment of polyvinyl chloride WPCs is predicted to be the most swiftly developing segment in the forecast horizon due to rising demand for it in decking and window applications. On the basis of application, the market is segmented into automotive, building and construction, electrical, and others including trays, toys, shoe soles, musical instruments, etc. Amongst these, on the basis of revenue and volume, the application segment of building and construction led the market in 2012. This is owing to the increasing usage of WPCs in window lineals, decking boards, door components, sliding and fencing products, and rails and balusters. The application segment of the automotive industry is predicted to be the most swiftly developing segment and is anticipated to expand at a 9% CAGR from 2013 to 2019 on the basis of volume. This is due to the increasing inclination of consumers towards biobased products. On the basis of geography, the market is segmented into Europe, North America, Asia Pacific, and Rest of the World (RoW). Amongst these, in 2012, North America held the biggest share in the market and constituted a share of more than 65% on the basis of volume. Europe is anticipated to exhibit moderate growth in the market by 2019. Asia Pacific is predicted to be the most swiftly developing market for wood-plastic composites in the coming six years. As per the report, the prime players dominant in the market include Fiberon LLC., Trex Company Inc., CPG International, Fineko, and Advanced Environmental Recycling Technologies (AERT).

As per Research and Markets, the global wood-plastic composites is estimated to grow at a CAGR of 14.43% by volume over the period 2014-2019. According to the report, WPCs are increasingly used in the housing industry for interior applications and outdoor constructions such as decking. The use of these products in decking accounts for the major share of the market and the demand for these products is expected to increase substantially during the forecast period. While Europe and North America represent more mature markets for decking, APAC holds significant growth opportunities because of the growth of the housing industry in the region. Further, the report states that the low preference for recyclates in WPCs products is a major challenge hindering the growth of the market.

RnR Market Research estimates that the wood plastic composite market is projected to grow from US$2579.90 mln in 2014 to US$4601.7 mln by 2019, with a CAGR of 12.2% between 2014 and 2019. Polyethylene is the single-largest segment, holding 56.6% share of the global wood plastic composite market in 2014 and is projected to grow with a CAGR of 12% between 2014 and 2019. North America is the largest market of polyethylene, while Asia stood second in 2014. The WPC market consists of four applications- building and construction products, automotive components, industrial, consumer goods and others. The demand for building and construction segment accounted for the largest share in 2014. North America was the largest consumer of building and construction products in 2014, followed by the Asian region. Leading companies in WPCs are continuously seeking new technologies for manufacturing WPCs with high efficiency. The leading players of this market such as Fiberon LLC (U.S.), TimberTech (U.S.), Tamko building products (U.S.) and others are profiled in the report. The key players in this market have adopted various strategies to strengthen the market opportunities and increase their market shares. Partnerships, agreements, expansions, joint ventures, and acquisitions are some of the main strategies adopted by the market players to achieve growth in the WPCs market. Partnerships, agreements and collaborations accounted for 39% of all the growth strategies adopted by the players during the review period of 2009 to 2014. As per RNR Market Research, US demand for WPC and plastic lumber is expected to increase more than 10% annually to US$8.4 bln in 2018, creating a market for nearly 4 bln lbs of plastic. A rebound in new housing completions from the low 2013 level and gains in residential improvement and repair expenditures will generate increases in demand. Demand gains will also be boosted by increased market penetration in decking applications, the predominant use for composite and plastic lumber. Decking applications will account for more than two-fifths of composite and plastic lumber demand by 2018. Homeowners will increasingly choose decks made from alternative lumber because it has greater resistance to degradation by moisture, changes in humidity, insect attack, and time, and because it requires minimal maintenance over its long service life. Ongoing changes to manufacturing technologies that will improve the color-fade resistance and the resemblance to natural wood, particularly expensive hardwoods such as ipe and redwood, will further boost composite and plastic decking demand. Further gains will result from efforts by manufacturers to increase the scope of decking accessories offered. Among other applications, molding and trim applications are also expected to advance at a strong pace through 2018. Wood-plastic composite and plastic lumber use in molding and trim will benefit from renewed housing activity and performance characteristics - such as resistance to moisture and ease of shaping - that are superior to those of lumber and engineered wood. Increases in overall construction activity will support demand gains for both types of alternative lumber through 2018, but wood-plastic composite demand will rise at a quicker pace than demand for plastic lumber, albeit from a smaller base. As nearly two-thirds of composite and plastic lumber demand is generated by the residential market, expansion in that market will boost composite lumber demand. In large, high-growth residential applications such as decking, wood-plastic composite is increasingly preferred to plastic lumber. Several factors will support its rapid growth. For instance, composite lumber includes cellulosic fibers and is better able to resemble the look and texture of traditional wood, an appealing trait to consumers looking for attractive but low maintenance decks. Furthermore, because composite lumber frequently is manufactured using recycled materials - including consumable plastic such as grocery bags and stretch film, and wood scraps from mills and other lumber operations - it is often marketed as an environmentally friendly building material.

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Unused tiffin, lunch box moulds

Unused tiffin, lunch box moulds