Wood Plastic Composite Market Worth To Reach $9.77 Billion By 2024: Grand View Research, Inc.4/26/2018 The global wood plastic composite market is expected to reach USD 9.77 billion by 2024, according to a new report by Grand View Research, Inc. Increasing demand for wood plastic composites in construction industry particularly in decking, fencing, and molding & siding applications is expected to be the key driver for the market growth. Superior mechanical strength, low maintenance and weight reduction offered by these products are expected to propel demand in the construction industry over the next eight years.
Rising automakers focus towards making every automotive part biodegradable, and recyclable is expected to open new avenues for the material over the next eight years. The product is used in door panels, seat cushions, cabin linings, backrests, and dashboards. The most commonly used wood species for commercial wood plastic composite products include maple, oak, and pine. Product cost and regional availability of raw material are expected to be a key factor for wood plastic composites manufacturers over the projected period. Rising application scope for wood plastic composites for manufacturing various other products including musical instruments, shoe soles, toys, and trays is expected to have a positive impact on the market growth. Growing demand for bio-plastics in niche applications such as household electronics and edge protection for packaging is expected to propel demand over the projected period. Full Research Report On Global Wood Plastic Composite Market By Grand View Research: www.grandviewresearch.com/industry-analysis/wood-plastic-composites-market Further key findings from the study suggest:
www.grandviewresearch.com/industry/specialty-glass-ceramic-and-fiber Grand View Research has segmented the wood plastic composite market on the basis of product, application and region: Wood Plastic Composite Market Product Outlook (Volume, KiloTons; Revenue, USD Million, 2013 - 2024)
www.grandviewresearch.com/press-release/global-wood-plastic-composite-market About Grand View Research Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare. For more information: www.grandviewresearch.com
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