Asia Pacific Wood Plastic Composites Market Size & Outlook
Asia Pacific wood plastic composites market, 2018-2030 (US$M)
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Asia Pacific wood plastic composites market highlights
- An overview of the Asia Pacific wood plastic composites market trends heading towards 2030. The Asia Pacific market generated a revenue of USD 1,735.5 million in 2021.
- The overall growth of the Asia Pacific market from 2021 to 2030. The market is expected to grow at a CAGR of 12.3% from 2022 to 2030.
- A look at the Asia Pacific market revenues per segment in 2021. In terms of segment, polyethylene was the largest revenue generating product in 2021.
- The segment witnessing the fastest revenue growth within the market. Polypropylene is the most lucrative product segment registering the fastest growth during the forecast period.
- An overview of Asia Pacific market per country. Country-wise, India is expected to register the highest CAGR from 2022 to 2030.
Asia Pacific data book summary
| Market revenue in 2021 | USD 1,735.5 million |
| Market revenue in 2030 | USD 4,931.8 million |
| Growth rate | 12.3% (CAGR from 2021 to 2030) |
| Largest segment | Polyethylene |
| Fastest growing segment | Polypropylene |
| Historical data covered | 2018 - 2020 |
| Base year for estimation | 2021 |
| Forecast period covered | 2022 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Polyethylene, Polypropylene, Polyvinylchloride |
| Key market players worldwide | Compagnie de Saint-Gobain SA, Fortune Brands Innovations Inc, FKuR, JM Holdings Co Ltd, TAMKO Building Products, Trex Co Inc, UFP Industries Inc, Advanced Environmental Recycling Technologies, Beologic, Polyplank, Timber Tech |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 30.1% of the global wood plastic composites market in 2021.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 4,931.8 million by 2030.
Polyethylene was the largest segment with a revenue share of 65.98% in 2021. Horizon Databook has segmented the Asia Pacific wood plastic composites market based on polyethylene, polypropylene, polyvinylchloride covering the revenue growth of each sub-segment from 2018 to 2030.
The demand for wood plastic composite in the region is dominating by the building & construction application. Increasing population in countries including India, China, Bangladesh, and Pakistan coupled with changing consumer lifestyle has resulted in the growth of construction and consumer goods industry in the region, which in turn is expected to have a positive impact on the market growth over the forecast period.
China dominated the wood plastic composite market in the region owing to high growth of end-use industries in the country. Abundant raw-material availability coupled with numerous small- and largescale manufacturers in the region is anticipated to assist the market growth in the region.
Rapid urbanization, improving government balance sheets resulting in augmented infrastructure spending, and rising disposable income in the region are the major factors contributing to the growth of the regional construction industry.
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Wood Plastic Composites Market Scope
Wood Plastic Composites Market Companies
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Asia Pacific Wood Plastic Composites Market Outlook Share, 2021 & 2030 (US$M)
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