Philippines Wood Plastic Composites Market Size & Outlook
Philippines wood plastic composites market, 2018-2030 (US$M)
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Philippines wood plastic composites market highlights
- An overview of the Philippines wood plastic composites market trends heading towards 2030. The market in Philippines generated a revenue of USD 14.7 million in 2021 and is expected to reach USD 38.9 million by 2030.
- The overall growth of the Philippines market from 2021 to 2030. The Philippines market is expected to grow at a CAGR of 11.4% from 2022 to 2030.
- A look at the Philippines 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 14.7 million |
| Market revenue in 2030 | USD 38.9 million |
| Growth rate | 11.4% (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, Philippines accounted for 0.3% 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 65.31% in 2021. Horizon Databook has segmented the Philippines wood plastic composites market based on polyethylene, polypropylene, polyvinylchloride covering the revenue growth of each sub-segment from 2018 to 2030.
Philippines has witnessed a rise of industrialization in the recent past. The country was earlier dependent on agricultural activities and has now shifted its focus to manufacturing and service providing. The country is emerging as a leading exporter of petroleum products, transportation equipment, and coconut oil.
The rising industrialization has thus provided a business-friendly environment in the country and is thus expected to increase the demand for wood plastic composites in automotive & transportation components application over the forecast period.
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Wood Plastic Composites Market Scope
Wood Plastic Composites Market Companies
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Philippines Wood Plastic Composites Market Outlook Share, 2021 & 2030 (US$M)
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