Progress in Housing and Building Industries Will Drive the Wooden Plastic Composites Market, Says Technavio
LONDON–(BUSINESS WIRE) – According to the latest market study published by Technavio, the global wood-plastic composite (WPC) market is expected to reach USD 5,991.2 million by 2021 and grow at an annual growth rate of more than 11%.
This research report, titled Global WPC Market 2017-2021, provides an in-depth analysis of the market in terms of sales and trends in emerging markets. When calculating the market size, the report takes into account sales of WPC products in key applications such as construction, automotive, industrial, and consumer products.
The global WPC market is expected to grow rapidly due to the increased production of composite materials and increasing demand from regions like South America and countries like Russia, China and India. The entry of various suppliers of WPCs is driving consumption in these countries. In August 2015, the GS Group put a pilot WPC production plant into operation in Ulyanovsk, Russia, in which granulated WPC products are to be manufactured that are extruded and injection molded.
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Technavio’s chemical and materials analysts categorize the global WPC market into four main segments by product type. You are:
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Polyethylene
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Polyvinyl chloride
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Polypropylene
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Other polymers
The three main product segments for the global WPC market are:
Global market for WPCs made of polyethylene
Polyethylene is one of the widely used thermoplastic polymers. HDPE, low density polyethylene (LDPE), linear LDPE (LLDPE), and ultra high molecular weight polyethylene (UMWPE) are some of the different types of polyethylene available that are suitable for a particular application. In the global WPC market, polyethylene is expected to perform well and continue to hold the leading share over the forecast period
Ajay Adikhari, a senior biochemicals and biomaterials analyst for Technavio, said, “The excess availability of recycled HDPE in the US is driving the use of polyethylene as the preferred matrix polymer. On the contrary, PP is the preferred matrix polymer in Europe. Due to the better UV stability of polyethylene, the trend is slowly changing in Europe too. ”
Global Polyvinyl Chloride WPC Market
PVC is a suitable alternative to traditional materials such as glass, copper, iron and wood in various applications because of its operational efficiency and benefits. The polymer has a high hardness and mechanical properties, which are improved with increasing molecular weight and lower temperature.
“PVC is made from ethylene, which comes from the oil and gas industry. It can also be made using various hydrocarbons, including derivatives of plants, sugar cane, and coal. PVC matrix WPCs are often used to make windows and are now also used in the terrace segment, ”says Ajay.
Global market for polypropylene WPCs
PP is an unsaturated polyolefin. It is inherently semi-rigid and offers good resistance to chemicals, heat, and fatigue even at high temperatures. PP quality is selected depending on the required specification, processing method and associated costs. Homopolymers, copolymers (5% -15%, ethylene) and random copolymers are the commonly available grades.
Injection molding, blow molding, and general purpose extrusion are some of the widely used processing methods for PP. The development of prototypes on CNC machines and 3D printers with PP matrix is increasing in Europe because these filaments are readily available.
The main vendors highlighted in this report by Technavio’s research analysts are:
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Advanced Environmental Recycling Technologies (AERT)
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CPG International
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Fiberon
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Trex Company
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Universal forest products
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Technavio is a leading global technology research and consulting company. The company develops over 2000 research papers each year, covering more than 500 technologies in 80 countries. Technavio has around 300 analysts worldwide who specialize in tailor-made consulting and corporate research tasks using the latest cutting-edge technologies.
Technavio analysts use both primary and secondary research techniques to determine the size and vendor landscape in a number of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, as well as internal market modeling tools and proprietary databases. You confirm this data with the data of various market participants and stakeholders along the value chain, including providers, service providers, dealers, resellers and end users.
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A door knob printed with the wooden thread. Image via Forest Products Society