North America Wood Plastic Composites Market Size & Outlook
North America wood plastic composites market, 2018-2030 (US$M)
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North America wood plastic composites market highlights
- An overview of the North America wood plastic composites market trends heading towards 2030. The North America market generated a revenue of USD 3,011.1 million in 2021.
- The overall growth of the North America market from 2021 to 2030. The market is expected to grow at a CAGR of 11.2% from 2022 to 2030.
- A look at the North America 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 North America market per country. Country-wise, Mexico is expected to register the highest CAGR from 2022 to 2030.
North America data book summary
| Market revenue in 2021 | USD 3,011.1 million |
| Market revenue in 2030 | USD 7,797.2 million |
| Growth rate | 11.2% (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, North America region accounted for 52.2% 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 66.02% in 2021. Horizon Databook has segmented the North America wood plastic composites market based on polyethylene, polypropylene, polyvinylchloride covering the revenue growth of each sub-segment from 2018 to 2030.
Automotive and construction industries in North America are showing growth signs. Reduction in unemployment rates, passage of major infrastructure-related bills, and reduced prices due to shale gas flooding the market are some of the key reasons for the growth of the construction industry in the region.
Government reports have identified that major towns have regained their economic activity concerning housing industry. The electronics industry also has a major presence in North America and is fueled by the huge domestic market.
Due to advancements such as the Internet of Things, big data, and cloud computing finding application in a broad variety of end uses the consumer electronics industry is expected to grow significantly over the forecast period.
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Wood Plastic Composites Market Scope
Wood Plastic Composites Market Companies
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North America Wood Plastic Composites Market Outlook Share, 2021 & 2030 (US$M)
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