Growth In Housing And Construction Sectors To Drive Global Wood Plastic Composites Demand

Growth in housing and construction sectors to drive global Wood Plastic Composites demand

14-Mar-17

The global wood plastic composites (WPC) market is expected to reach US$5,991.2 mln by 2021, growing at a CAGR of more than 11%, as per Technavio. 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 fuelling 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.

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.”
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.

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.