IMARC Group has recently released a new research study “India Wood Plastic Composites Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
What are the growth prospects of the India Wood Plastic Composites Industry?
The global india wood plastic composites market size reached US$ 196.7 Million in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 393.5 Million by 2027, exhibiting a growth rate (CAGR) of 12% during 2022-2027.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
What is a Wood Plastic Composites ?
Wood-plastic composites (WPC) represent the hybrid materials produced by blending natural products, such as pulp, bamboo, bark, etc., with polymers or thermoplastics. They have gained prominence over various conventional products, including fiberboard or particleboard, based on biodegradable and eco-friendly benefits. WPC is extensively used as a substitute component to manufacture railings, cladding, furniture, decking lumber, molding, etc. As they exhibit properties of both wood and plastics, they are highly durable, versatile, and rot-resistant, allowing the manufacturers to produce complex shapes.
WPC improves stability and stiffness, owing to composite material functioning as reinforcement. As a result, these materials find widespread applications across several sectors, such as construction, industrial, consumer goods, automotive, etc.
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What are the key factors driving the india wood plastic composites market?
The growing product popularity as a cost-effective and sustainable alternative to hardwood in various structure applications, including windows, flooring, decking, etc., is primarily driving the India wood plastic composites market. Besides this, the escalating demand for this material to construct balconies, fences, staircases, pillars, roofs, etc., on account of the emerging trend of green buildings, is further augmenting the market growth.
Moreover, the elevating requirement for WPC in modular kitchen accessories as it is easily customizable and offers enhanced efficiency even in high temperatures is also catalyzing the market across India.Apart from this, the increasing product need in the automotive industry for manufacturing dashboards, headliners, parcel shelves, backrests, front and rear door liners, etc., is expected to bolster the India wood plastic composites market in the coming years.
Who are the key players/companies in the india wood plastic composites market?
Ado Woods, Alstone Industries Private Limited, Ecoste, JKD Plastics, Kumar Arch Tech Private Limited (ECHON), Meghmani Group, SCHALEWOOD, Shubh Wood, TVL Engineers Pvt. Ltd (Floresta) and WoodAlt
Report Segmentation:
The report has been segmented the market into following categories:
Breakup by Type:
- Polyvinylchloride
- Polypropylene
- Polyethylene
- Others
Breakup by Application:
- Building and Construction
- Windows and Doors
- Decking and Flooring
- Sliding and Fencing
- Others
- Industrial and Consumer Goods
- Others
Regional Insights:
- Asia Pacific
- North America
- Europe
- Middle East and Africa
- Latin America
On the geographical front, Asia Pacific enjoys the leading position in the market. This can be attributed to the rising establishment of international companies in the region, on account of low manufacturing costs and cheap labor.
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