Wood-plastic Composites Market Size, Opportunities, Share, Top Manufacturer Analysis, Growth, Regional Trends, Key Segments, and Forecast to 2028
The wood-plastic composites market is projected to grow from USD 7.5 billion in 2023 to USD 11.9 billion by 2028, at a CAGR of 9.8% during the forecast period. The wood-plastic composites market is continuously growing with a significant growth rate due to its increasing demand from various applications, such as building & construction products, automotive components, industrial & consumer goods, and many others. North America, Europe and Asia Pacific are major markets for wood-plastic composites. The ecofriendly nature along with efficient properties makes wood-plastic composites preferable material under various end-use industries.
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Some of the major manufacturers operating in the wood-plastic composites market are Trex Company, Inc., (US), MoistureShield (US), UFP Industries, Inc. (US), Fiberon (US), TimberTech (US), TAMKO Building Products LLC (US), Beologic (Belgium), FKuR Kunstsoff GmbH (Germany), JELU-WERK J. Ehrler GmbH & Co. KG (Germany), and Green Dot Bioplastics, Inc. (US).
Many major players have been adopting various growth strategies in order to strengthen their position in the global wood-plastic composites market. These growth strategies include product launches, contracts, mergers and acquisitions, partnerships, and product development activities aiming expand their market presence in the wood-plastic composites market further.
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Trex Company, Inc. (US)
Trex Company, Inc. is a manufacturer and supplier of wood-alternative composite decking, railing, and other outdoor living products and accessories for residential and commercial markets in the United States. Trex Company, Inc. established in 1996 and headquartered in Virginia, U.S. Trex operates in two segments: Trex Residential and Trex Commercial, under this segments company offer products such as decking, trims, railings, fencing, steel deck framing, outdoor lighting, and flooring. The company had a headcount of 1,636 employees and reported revenue worth more than USD 1,106 million in December 2022. The company has manufacturing facilities in Winchester, Virginia, and Fernley, Nevada. The company’s high-performance composites products are available in more than 29 countries and account for the largest market share of composite decking in North America. The company has 6,700 retail outlets worldwide.
MoistureShield (US)
MoistureShield is a leading provider of composite decking and decking products, specializing in processing and converting scrap plastic and wood fiber waste into outdoor decking, fencing systems, and window and door components. The company has raised a total funding of $48 million over 2 rounds. The company’s product line includes Infuse with a realistic wood-grain finish and the ability to withstand total submersion in water, and Vantage, an uncapped composite designed as an affordable alternative to wood. MoistureShield’s use of new technologies and patents has enabled it to manufacture superior composite decking products from recycled wood fiber and recycled polyethylene plastic. In 2017 company acquired Advanced Environmental Recycling Technologes, Inc. (AERT) which pioneered the use of recycled polyethylene plastic in the manufacture of composite building materials.
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