China to Drive Wood-Plastic Composites Market in Asia Pacific Region: Transparency Market Research
March 17, 2015 | By Business Wire News
Transparency Market Research has recently published a research report titled “Wood-Plastic Composites Market (Polyethylene, Polypropylene, Polyvinyl Chloride and Others) for Building & Construction, Automotive, Electrical and Other Applications – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019”.
In 2012, the wood-plastic composites market worldwide was worth US$2.64 billion. It is likely to reach a value of US$5.39 billion by 2019, growing at 10.8% CAGR during 2013 to 2019.
The report provides an in-depth analysis of the global wood-plastic composites market on the basis of products, application, and region.
The wood-plastic composites market on the basis of products was dominated by polyethylene in 2012. The polyethylene wood-plastic composites market is used majorly in the construction industry. The polyvinyl chloride wood-plastic composites market is likely to be the fastest growing product category of the market from 2013 to 2019, due to its expanding application in decking and windows.
The wood-plastic composites market based on application is led by the construction industry in 2012, when it held over 70% of the total volume demand from the wood-plastic composites market. The automotive industry is likely to be the fastest developing application of the wood-plastic composites market due to the rise in discarding traditional materials such as metals.
The wood-plastic composites market based on geography was led in 2012 by North America, which is expected to continue to dominate between 2013 and 2019. Asia Pacific is expected to register exceptional growth in the wood-plastic composites market at an expected CAGR of around 10% during 2013 to 2019. China is expected to be the prime growth driver for the wood-plastic composites market in Asia Pacific region, owing to its massive capability to produce wood-plastic composites products.
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Transparency Market Research (TMR) is a U.S. based market intelligence company driven by high-pedigree consultants and researchers. TMR leverages its Syndicated Research, Custom Research, and Market Consulting expertise to help businesses make accurate decisions. TMR’s exclusive blend of quantitative forecasting and trends analysis draws on proprietary data sources and techniques, while their data repository is continuously updated to reflect the latest trends.