Canada Wood Plastic Composites Market Size & Outlook
Canada wood plastic composites market, 2018-2030 (US$M)
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Canada wood plastic composites market highlights
- An overview of the Canada wood plastic composites market trends heading towards 2030. The market in Canada generated a revenue of USD 395.1 million in 2021 and is expected to reach USD 1,023.1 million by 2030.
- The overall growth of the Canada market from 2021 to 2030. The Canada market is expected to grow at a CAGR of 11.2% from 2022 to 2030.
- A look at the Canada 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.
Wood plastic composites market data book summary
| Market revenue in 2021 | USD 395.1 million |
| Market revenue in 2030 | USD 1,023.1 million |
| Growth rate | 11.2% (CAGR from 2021 to 2030) |
| Largest segment | Polyethylene |
| Fastest growing segment | Polypropylene |
| Historical data | 2018 - 2020 |
| Base year | 2021 |
| Forecast period | 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, Canada accounted for 6.9% of the global wood plastic composites market in 2021.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. wood plastic composites market is projected to lead the regional market in terms of revenue in 2030.
- Mexico is the fastest growing regional market in North America and is projected to reach USD 490.7 million by 2030.
Polyethylene was the largest segment with a revenue share of 65.73% in 2021. Horizon Databook has segmented the Canada wood plastic composites market based on polyethylene, polypropylene, polyvinylchloride covering the revenue growth of each sub-segment from 2018 to 2030.
Wood plastic composites are expected to witness major application from Canada owing to increasing utilization from consumer goods and niche product segment coupled with rising demand from building & construction sector for manufacturing noise barriers, garden furniture’s, and window frames.
The polypropylene product segment is anticipated to witness fastest growth over the forecast period owing to growing applications from automotive industry for manufacturing pallets and from street construction for manufacturing noise barriers.
Rising awareness among end user industries regarding bioplastic products coupled with increasing stringent environment regulations imposed by the regional government is projected to propel the market growth over the forecast period.
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Wood Plastic Composites Market Scope
Wood Plastic Composites Market Companies
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Canada Wood Plastic Composites Market Outlook Share, 2021 & 2030 (US$M)
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