The study involves two major activities in estimating the current market size for the wood-plastic composites market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
Secondary Research
Secondary sources referred to for this research study include financial statements of companies offering wood-plastic composites and information from various trade, business, and professional associations. Secondary research has been used to obtain critical information about the industry’s value chain, the total pool of key players, market classification, and segmentation according to industry trends to the bottom-most level and regional markets. The secondary data was collected and analyzed to arrive at the overall size of the wood-plastic composites market, which was validated by primary respondents.
Primary Research
Extensive primary research was conducted after obtaining information regarding the wood-plastic composites market scenario through secondary research. Several primary interviews were conducted with market experts from both the demand and supply sides across major countries of North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America. Primary data was collected through questionnaires, emails, and telephonic interviews. The primary sources from the supply side included various industry experts, such as Chief X Officers (CXOs), Vice Presidents (VPs), Directors from business development, marketing, product development/innovation teams, and related key executives from wood-plastic composites industry vendors; system integrators; component providers; distributors; and key opinion leaders. Primary interviews were conducted to gather insights such as market statistics, data on revenue collected from the products and services, market breakdowns, market size estimations, market forecasting, and data triangulation. Primary research also helped in understanding the various trends related to type, application, and region. Stakeholders from the demand side, such as CIOs, CTOs, CSOs, and installation teams of the customer/end users who are using wood-plastic composites products were interviewed to understand the buyer’s perspective on the suppliers, products, component providers, and their current usage of wood-plastic composites and future outlook of their business which will affect the overall market.
The Breakup of Primary Research:
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Market Size Estimation
The research methodology used to estimate the size of the wood-plastic composites market includes the following details. The market sizing of the market was undertaken from the demand side. The market was upsized based on procurements and modernizations in wood-plastic composite products in different applications at a regional level. Such procurements provide information on the demand aspects of the wood-plastic composites industry for each application. For each application, all possible segments of the wood-plastic composites market were integrated and mapped.
Wood-plastic Composites Market Size: Botton Up Approach
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Wood-plastic Composites Market Size: Top-Down Approach
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Data Triangulation
After arriving at the overall size from the market size estimation process explained above, the total market was split into several segments and subsegments. The data triangulation and market breakdown procedures explained below were implemented, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics for various market segments and subsegments. The data was triangulated by studying various factors and trends from the demand and supply sides. Along with this, the market size was validated using both the top-down and bottom-up approaches.
Market Definition
Wood-plastic composites are composites made from wood fibers or wood flour and thermoplastic materials such as polyethylene (PE), polypropylene (PP), and polyvinylchloride (PVC). Additives are used in wood-plastic composites to enhance the physical and mechanical properties within the polymer matrix along with the processing aids such as lubricants, wetting agents, plasticizers, and compatibilizers. Wood-plastic composites for various applications are generally manufactured by extrusion process, whereas injection molding process is still not widely used. Major application areas of wood-plastic composites include decking, railing, fencing, trims, panels, furniture, automotive components, industrial & consumer goods, and others. Wood-plastic composites not only looks and feels similar to natural wood products and have similar performance benefits, but in addition they offer superior durability, color retention, and are resistant to rot, decay, and UV, thus providing greater value in end-market applications.
Key Stakeholders
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Wood-plastic Composites Manufacturers
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Raw Materials Suppliers
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Distributors and Suppliers
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End-use Industries
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Industry Associations
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R&D Institutions
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Environment Support Agencies
Report Objectives
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To define, describe, and forecast the wood-plastic composites market size in terms of volume and value
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To provide detailed information regarding the key factors, such as drivers, restraints, opportunities, and challenges influencing market growth
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To analyze and project the global wood-plastic composites market by type, application, and region
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To forecast the market size concerning five main regions (along with country-level data), namely, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, and analyze the significant region-specific trends
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To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions of the submarkets to the overall market
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To analyze the market opportunities and the competitive landscape for stakeholders and market leaders
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To assess recent market developments and competitive strategies, such as agreements, contracts, acquisitions, and new product developments/new product launches, to draw the competitive landscape
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To strategically profile the key market players and comprehensively analyze their core competencies
Available Customizations
MarketsandMarkets offers following customizations for this market report:
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Additional country-level analysis of the wood-plastic composites market
Product Analysis
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Product matrix, which provides a detailed comparison of the product portfolio of each company's market
AMEY
May, 2016
Specific information required on wood plastic composites in India.
Mghirbi
Dec, 2015
WPC market analysis.
Prof
Jul, 2019
Looking to understand current market trends of WPCs products and technology from recycled plastic and wood..
Abu
Jun, 2016
Report on Wood plastic composite market.
Julien
Sep, 2019
Market study of PE based Wood-Plastic Composites. Supply/Demand Historical and Forecast, Pricing, Competitive landscape, Customer landscape, PE grades and specs used for Wood-Plastic Composites..
Julien
Sep, 2019
Looking for Supply/Demand, Pricing, PE grades, specs used, Customer and competitor landscape of PE market.
Yogesh
Feb, 2017
looking for export market of wood polymer composite and PVS sheet..
Hamza
May, 2016
Wood plastic composite market.
sachin
Dec, 2020
Looking for a report on the market trend of the wood plastic composite market in India for the next five years..
Robert
Oct, 2015
Looking for specific sections of the report.
Abhaykumar
Sep, 2016
Interested in the Indian Wood-Plastic composite market.
PARAG
Aug, 2016
General information on Wood-plastic composite (WPC) market in India.
Steph
Mar, 2015
Wood composite market in France and collectivities & individual use.
Ricardo
Feb, 2017
Information on wood plastic composites.