Iran Wood Plastic Composites Market Size & Outlook
Iran wood plastic composites market, 2018-2030 (US$M)
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Iran wood plastic composites market highlights
- An overview of the Iran wood plastic composites market trends heading towards 2030. The market in Iran generated a revenue of USD 9.1 million in 2021 and is expected to reach USD 17.5 million by 2030.
- The overall growth of the Iran market from 2021 to 2030. The Iran market is expected to grow at a CAGR of 7.6% from 2022 to 2030.
- A look at the Iran 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 9.1 million |
| Market revenue in 2030 | USD 17.5 million |
| Growth rate | 7.6% (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, Iran accounted for 0.2% 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 Middle East & Africa, Saudi Arabia wood plastic composites market is projected to lead the regional market in terms of revenue in 2030.
- Saudi Arabia is the fastest growing regional market in Middle East & Africa and is projected to reach USD 39.1 million by 2030.
Polyethylene was the largest segment with a revenue share of 64.84% in 2021. Horizon Databook has segmented the Iran wood plastic composites market based on polyethylene, polypropylene, polyvinylchloride covering the revenue growth of each sub-segment from 2018 to 2030.
The government of Iran has taken steps to develop biotechnology, construction, and automotive industry, in order to provide employment to their citizens. This factor coupled with rising foreign investments in the region, has caused the economy to strengthen and thus increase the per capita income of the citizens.
Rising income levels have led to a rise in demand for convenience goods and products, food & beverages, and industrial goods. This factor is thus expected to propel the demand for wood plastic composites over the forecast period.
Macroeconomic factors in Iran, such as increasing middle-class population, rising disposable income, changing demographics, and rapid urbanization, are driving the growth of the hospitality and healthcare industry in the region. The increasing presence of key industry players and their rising investments in the region are expected to boost the overall growth of the market.
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Wood Plastic Composites Market Scope
Wood Plastic Composites Market Companies
| Name | Profile | # Employees | HQ | Website |
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Iran Wood Plastic Composites Market Outlook Share, 2021 & 2030 (US$M)
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