Wood Plastic Composites Market Segmentation:
Product Type Segment Analysis
Polyvinylchloride (PVC)-based WPCs segment is poised to capture around 51% of the market share during the forecast period due to the natural longevity of PVC, better rot and moisture resistance, and low maintenance, which make it highly appropriate for outdoor applications like decking, fencing, and cladding. PVC also possesses favorable fire resistance and can be easily processed into various profiles and textures, making it highly sought after. The emergence of proprietary WPC systems, such as the introduction by Fiberon LLC of a digitally color-matched railing system that might include PVC materials, is indicative of the trend towards aesthetics and integration in favor of this segment.
Application Segment Analysis
The automotive component market is anticipated to lead the WPC market with a dominant 62% share by 2037, driven by the automotive sector's increasing focus on lightweight materials for fuel efficiency and the trend toward more eco-friendly and recyclable components in interior automotive trim. WPCs offer an attractive value proposition of lower weight than traditional materials, positive mechanical properties, and the potential to incorporate natural fiber and recycled plastic content. The application of wood plastic composites in the automotive sector is also enabled by their design freedom, i.e., complex geometries and embedded functions, and their capacity to help deliver enhanced cabin beauty and lower noise.
Our in-depth analysis of the wood plastic composites market includes the following segments:
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