Singapore Wood Plastic Composites Market Size & Outlook
Singapore wood plastic composites market, 2018-2030 (US$M)
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Singapore wood plastic composites market highlights
- An overview of the Singapore wood plastic composites market trends heading towards 2030. The market in Singapore generated a revenue of USD 59.4 million in 2021 and is expected to reach USD 162.9 million by 2030.
- The overall growth of the Singapore market from 2021 to 2030. The Singapore market is expected to grow at a CAGR of 11.9% from 2022 to 2030.
- A look at the Singapore 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 59.4 million |
| Market revenue in 2030 | USD 162.9 million |
| Growth rate | 11.9% (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, Singapore accounted for 1.0% 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 65.49% in 2021. Horizon Databook has segmented the Singapore wood plastic composites market based on polyethylene, polypropylene, polyvinylchloride covering the revenue growth of each sub-segment from 2018 to 2030.
The economy in Singapore is a free-market and highly developed economy. It has high per capita GDP as compared to other developed countries, stable prices, corruption-free environment, and low unemployment which aids in driving the country’s economic growth.
The hospitality sector of the country is also well-established owing to the strong tourist footfall in the country. These industries thus have a high demand for wood plastic composites.
This has led to an increased demand among the consumers for luxury consumer goods, housing, furniture, electronics, and automotive, and is thus expected to boost the demand for wood plastic composites, and thereby 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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Singapore Wood Plastic Composites Market Outlook Share, 2021 & 2030 (US$M)
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