The wood-plastic composites market is projected to reach USD 5.84 Billion by 2021, at a CAGR of 12.4% for the forecast period of 2016 to 2021. This growth is driven by the increasing demand from the building & construction application and growing demand for recyclable material in automobile industry.
Wood-plastic composites are the 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. Building & construction is one of the prominent application where wood-plastic composites are used in manufacturing decking, sliding, fencing, and many other products. The major companies operating in the wood-plastic composites market are Trex Company, Inc. (U.S.), Advanced Environmental Recycling Technologies Inc. (U.S.), Fiberon LLC (U.S.), TimberTech (U.S.), CertainTeed (U.S.), and TAMKO Building Products, Inc. (U.S.).
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In recent times, key companies have adopted various strategies such as partnerships, agreements, collaborations, acquisitions, and new product launches in order to gain competitive advantage in the market place. The growing demand of wood-plastic composites from emerging economies has resulted in a surge of strategic initiatives in recent times and it is anticipated to continue in near future. The companies are also making investments to strengthen their sales and distribution networks, enhance their market visibility, and strengthen their position in the global wood-plastic composites market.
Trex Company, Inc. is the one of the leading producers of wood-plastic composites globally. The company is focusing more on new product launches as well as business expansion strategies to strengthen its market position and consolidate its financial position in the global wood-plastic composites market. In February 2016, the company enhanced its brand footprint with the expansion of Amerhart Limited into Eastern Missouri. Amerhart Limited is one of the largest independently owned building materials distributors which acquired Lumberyard Supply Co. to strengthen its distribution network in the Midwest region that includes Wisconsin, Illinois, Minnesota, Michigan, and Missouri. In November 2015, Trex Company, Inc. introduced a product named Trex Pergola. Three new Trex Pergola shade structures were also introduced, namely, Air, Balance, and Vision with varied color finishes.
Fiberon LLC is another major player in the wood-plastic composites market. It provides standard quality decking and railing products mainly for building & construction application. The company has signed multiple agreements with various distributors in the North American region in order to expand its distribution network and increase its regional footprint. In January 2015, Fiberon LLC and BlueLinx added 14 new distribution locations for composite decking and railing products that helps the company to address the market demand for wood-plastic composites. In May 2014, Fiberon LLC partnered with BlueLinx Holdings, Inc. (U.S.) to enhance the distribution of composite decking and railing products in Georgia, U.S.
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