The major driving factors of the wood plastic composite market are some of the advantages which these plastic composites offer like low-maintenance, high-performance and low-cost building products that are eco-friendly and offer maintenance-free. The manufacturing segment has increased the demand for recyclable and biodegradable materials with superior mechanical strength, weight reduction, and fuel efficiency.
The demand for wood plastic composites has increased in the construction industry especially in decking and fencing applications. Moreover, Wood Plastic Composite act as a low cost and environment-friendly substitute as compared to the conventional plastic and steel components. Demand for Bio-based products is rising in order to tackle environmental issues related to greenhouse gases and carbon emissions. Increasing research and development investments is also expected to supplement growth for Wood Plastic Composite Market globally.
Superior characteristics such as recyclability, thermal stability, and stiffness will ensure higher demand for Wood Plastic Composites in the forecasted period. One of the major factors limiting the growth of the market is the difficulty in estimating future demand mainly due to the economic slowdown in various regions globally. Asia Pacific is expected to grow at the highest rate mainly due to increased construction activities and investments, especially in China and India.