India Wood Plastic Composites Market Share 2022-2027
According to the latest report by IMARC Group, titled “India Wood Plastic Composites Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the global India wood plastic composites market share.The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global India wood plastic Composites Market size reached US$ 196.7 Million in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 393.5 Million by 2027, exhibiting a growth rate (CAGR) of 12% during 2022-2027.
Wood-plastic composites (WPC) represent the hybrid materials produced by blending natural products, such as pulp, bamboo, bark, etc., with polymers or thermoplastics. They have gained prominence over various conventional products, including fiberboard or particleboard, based on biodegradable and eco-friendly benefits. WPC is extensively used as a substitute component to manufacture railings, cladding, furniture, decking lumber, molding, etc. As they exhibit properties of both wood and plastics, they are highly durable, versatile, and rot-resistant, allowing the manufacturers to produce complex shapes.
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WPC improves stability and stiffness, owing to composite material functioning as reinforcement. As a result, these materials find widespread applications across several sectors, such as construction, industrial, consumer goods, automotive, etc.
The growing product popularity as a cost-effective and sustainable alternative to hardwood in various structure applications, including windows, flooring, decking, etc., is primarily driving the India wood plastic composites market. Besides this, the escalating demand for this material to construct balconies, fences, staircases, pillars, roofs, etc., on account of the emerging trend of green buildings, is further augmenting the market growth.
Moreover, the elevating requirement for WPC in modular kitchen accessories as it is easily customizable and offers enhanced efficiency even in high temperatures is also catalyzing the market across India.Apart from this, the increasing product need in the automotive industry for manufacturing dashboards, headliners, parcel shelves, backrests, front and rear door liners, etc., is expected to bolster the India wood plastic composites market in the coming years.
Who Are The Key Players/Companies In The India Wood Plastic Composites Market?
Ado Woods, Alstone Industries Private Limited, Ecoste, JKD Plastics, Kumar Arch Tech Private Limited (ECHON), Meghmani Group, SCHALEWOOD, Shubh Wood, TVL Engineers Pvt. Ltd (Floresta) and WoodAlt
The report has been segmented the market into following categories:
Breakup by Type:
Breakup by Application:
- Building and Construction
- Windows and Doors
- Decking and Flooring
- Sliding and Fencing
- Industrial and Consumer Goods
- Asia Pacific
- North America
- Middle East and Africa
- Latin America
On the geographical front, Asia Pacific enjoys the leading position in the market. This can be attributed to the rising establishment of international companies in the region, on account of low manufacturing costs and cheap labor.
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