Wood plastic composite market projected to grow at CAGR of over 12% uptil 2019

16-Jan-15

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, as per RnRMarketResearch.com. 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 12.0% between 2014 and 2019. North America is the largest market of polyethylene and Asia stood second in 2014. The wood plastic composite market consists of four application; they are 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, at US$2579.9 million, and it is projected to reach US$4601.7 million by 2019. North America was the largest consumer of building and construction products in 2014, followed by the Asian region.