The report further mentions that the Wood Plastic Composite market size was USD 4.77 billion in 2019 and is projected to reach USD 9.03 billion by 2027, exhibiting a CAGR of 8.57% during the forecast period.

Information source:

https://www.fortunebusinessinsights.com/wood-plastic-composite-market-102821

Drivers & Restraints-

Increasing Usage of Sustainable Fibers to Boost Growth

Wood Plastic Composite are green materials that have high potential in bringing about sustainability. They don’t contain excessive chemicals that may pose toxic for the environment and are durable in nature. They would aid in lowering fuel consumption and production cost, offering shatterproof performance under harsh weather conditions, enhance passenger safety, lower weight of the material, and improve acoustic performance

Segment-

Decking Segment to Grow Rapidly Owing to High Demand from Construction Sector

Based on application, the decking segment held 55.55% Wood Plastic Composite market share in 2019. This growth is attributable to their increasing demand from the construction industry. The process of decking requires the usage of such composites as they possess several benefits that help in refining the quality of the material of concrete. They are also used to improve strength and durability.