South Africa Wood Plastic Composites Market Size & Outlook
South Africa wood plastic composites market, 2018-2030 (US$M)
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South Africa wood plastic composites market highlights
- An overview of the South Africa wood plastic composites market trends heading towards 2030. The market in South Africa generated a revenue of USD 12.4 million in 2021 and is expected to reach USD 24.5 million by 2030.
- The overall growth of the South Africa market from 2021 to 2030. The South Africa market is expected to grow at a CAGR of 7.9% from 2022 to 2030.
- A look at the South Africa 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 12.4 million |
| Market revenue in 2030 | USD 24.5 million |
| Growth rate | 7.9% (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, South Africa 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 65.32% in 2021. Horizon Databook has segmented the South Africa wood plastic composites market based on polyethylene, polypropylene, polyvinylchloride covering the revenue growth of each sub-segment from 2018 to 2030.
Increased spending by the government on infrastructure and rising demand for affordable packaging, construction, & furniture solutions in the region are expected to drive the market over the forecast period.
A favorable approach by the government towards the sector is prompting industry participants to undertake large-scale wood plastic composite manufacturing projects in the country, and this trend is expected to continue over the forecast period.
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Wood Plastic Composites Market Scope
Wood Plastic Composites Market Companies
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South Africa Wood Plastic Composites Market Outlook Share, 2021 & 2030 (US$M)
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