India Wood Plastic Composites Market Size & Outlook
India wood plastic composites market, 2018-2030 (US$M)
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India wood plastic composites market highlights
- An overview of the India wood plastic composites market trends heading towards 2030. The market in India generated a revenue of USD 290.2 million in 2021 and is expected to reach USD 867.4 million by 2030.
- The overall growth of the India market from 2021 to 2030. The India market is expected to grow at a CAGR of 12.9% from 2022 to 2030.
- A look at the India 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 290.2 million |
| Market revenue in 2030 | USD 867.4 million |
| Growth rate | 12.9% (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, India accounted for 5.0% 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 Asia Pacific, China wood plastic composites market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 867.4 million by 2030.
Polyethylene was the largest segment with a revenue share of 66.09% in 2021. Horizon Databook has segmented the India wood plastic composites market based on polyethylene, polypropylene, polyvinylchloride covering the revenue growth of each sub-segment from 2018 to 2030.
The Indian wood plastic composite market is expected to witness significant growth on account of rising expansion of capital market, presence of small- & large-scale industries, and rising foreign exchange reserves.
Government’s ‘make in India’ initiative is further expected to boost the consumer goods application segment, while construction industry is witnessing steady growth owing to the increasing demand for rental and personal housing property by the emerging population of the country.
The building and construction industry in India is highly dependent on the government’s land reform program. The industry is also expected to face various challenges such as power networks and transportation systems, which require upgrades.
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Wood Plastic Composites Market Scope
Wood Plastic Composites Market Companies
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India Wood Plastic Composites Market Outlook Share, 2021 & 2030 (US$M)
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