Top Insights on the Wood-plastic Composites Market | Technavio
April 21 2018 - 8:28AM
Business Wire
Technavio’s latest market research report on the global
wood-plastic composites market provides an analysis of the most
important trends expected to impact the market outlook from
2018-2022. Technavio defines an emerging trend as a factor
that has the potential to significantly impact the market and
contribute to its growth or decline.
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Technavio has published a new market
research report on the global wood-plastic composites market from
2018-2022. (Graphic: Business Wire)
According to Technavio market research analysts, the global
wood-plastic composites market will grow at a CAGR of almost
12% during the forecast period. The compliance pressure is a
major factor driving the market’s growth.
The high cost of WPCs is a lesser worry than their environmental
footprint. The pressure to comply with carbon dioxide emission and
fuel economy targets are driving the researchers around the world
to develop effective and efficient WPCs from recycled raw
materials. In the cradle-to-cradle scenario of WPCs, the materials
after each life cycle are cascaded and reused. Life cycle
assessment (LCA) is a method, which is used to estimate the
environmental impact of the product and the processes involved. The
LCA method considers the raw materials used and the output for a
specified period. The final phase of the life cycle of WPCs, which
is the disposal phase involves energy recovery from combustion.
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In this report, Technavio highlights the increasing prices of
hardwood as one of the key emerging trends in the global
wood-plastic composites market:
Increasing prices of
hardwood
The quality and supply of hardwood are the major global
challenges that are being faced by the manufacturers and
stakeholders. In this view, composites, particularly WPCs, are
accepted extensively for their reduced maintenance,
environment-friendliness, and greater return on investment. The
prevailing demand-supply imbalance has resulted in consistent price
hikes of all types of wood. The currency exchange rate is expected
to have a high influence on the hardwood prices as the domestic
market in the US is promising. The exports from the European
hardwood market are expected to increase due to the devaluation of
currencies against the dollar from most exporting countries.
“In North America, the supply side of the market has observed
improvement despite the low yield from emerald ash borer
quarantined areas. But, there have been instances of restrictions
while trying to source packs of wide or longboards. The hardwood
prices in Europe witnessed price hikes because of the tight
European oak supply. The higher costs are expected to be translated
into high prices of sawn timber. These factors are expected to
impact the growth of the WPCs market during the forecast period,”
says a senior analyst at Technavio for research on textile,
fiber, and composites.
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Global wood-plastic composites market
segmentation
This market research report segments the global wood-plastic
composites market into the following products (polyethylene,
polyvinyl chloride, and polypropylene), end-users (buildings and
construction, automotive, and industrial and consumer goods), and
key regions (North America, APAC, Europe, and ROW).
The buildings and construction segment held the largest market
share in 2017, accounting for nearly 75% of the market. This
segment is anticipated to witness steady growth during the forecast
period.
North America was the leading region for the global wood-plastic
composites market in 2017, accounting for a market share of more
than 48%. The market share of this region is expected to decrease
to some extent by 2022. However, North America will dominate the
global market throughout the forecast period.
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version on businesswire.com: https://www.businesswire.com/news/home/20180421005056/en/
Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS:
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