Global Plastic Composite Market, By Product (Polyethylene, Polypropylene, Polyvinylchloride, Others), Application (Building and Construction, Automotive Components, Industrial and Consumer Goods, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Plastic Composite Market
Plastic composite market is expected to witness market growth at a rate of 13.50% in the forecast period of 2021 to 2028 and is expected to reach USD 10.57 billion by 2028. Data Bridge Market Research report on plastic composite market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The increase in demand for sustainable construction materials coupled with growing construction activities in the residential sector globally is escalating the growth of plastic composite market.
Plastic composites refer to material consisting of waste wood and recycled plastic which offers features such as reduced melting temperature resulting in lowering the environmental impact and also, energy costs for the producers. The material possesses various properties including impact resistance, dimensional stability, resistance to rot, low moisture absorption, excellent thermal properties and good stiffness making it ideal for number of applications such as kitchen accessories, home furniture’s, interiors and others.
The increase in demand for the plastic composites from the building and construction application such as renovation and repair activities and the growing demand for single-family rental homes in developed nations such as the US are major factors driving the plastic composite market. The rise in investment in the sustainable and smart cities megaprojects across the globe influences the market growth. As plastic composites have a lower melting temperature which curbs down the energy cost and reduces environmental impacts of the material which accelerates the its demand. Additionally, the rise in demand for recyclable materials in the automotive industry and the ban on the utilization of arsenic, toxins copper and chromium positively affect the plastic composite market. Furthermore, easy processing of these composites, high consumption of recyclable materials and emerging markets extend profitable opportunities to the market players in the forecast period of 2021 to 2028.
On the other hand, complications with rigidity, increase in cost of raw materials and the impact under heavy load are factors expected to obstruct the market growth. Lawsuits against plastic composite companies and reduction in the weight of plastic composite products are projected to challenge the plastic composite market in the forecast period of 2021-2028.
This plastic composite market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on plastic composite market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Plastic Composite Market Scope and Market Size
Plastic composite market is segmented on the basis of product and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of product, the plastic composite market is segmented into polyethylene, polypropylene, polyvinylchloride and others.
- On the basis of application, the plastic composite market is segmented into building and construction, automotive components, industrial and consumer goods and others.
Global Plastic Composite Market Country Level Analysis
Plastic composite market is analyzed and market size, volume information is provided by country, product and application as referenced above.
The countries covered in the plastic composite market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the plastic composite market due to the increasing application scope of the material in the manufacturing of porches, docks and window frames and the rise in demand for bio-based plastics in street construction and landscaping in the region. Asia-Pacific is expected to witness the highest CAGR in the forecast period of 2021-2028 because of the growth in regional competition, rapid industrialization, and change in consumer’s behavior and increase in disposable income in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Plastic Composite Market Share Analysis
Plastic composite market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to plastic composite market.
The major players covered in the plastic composite market report are Trex Company, Inc., ConstructConnect, Inc, UFP Industries, Inc., Fiberon, TAMKO Building Products LLC, AXION STRUCTURAL INNOVATIONS LLC, JELU-WERK J. Ehrler GmbH & Co. KG, CERTAINTEED., Beologic, FKUR, Polyplank AB, AZEK Building Products., RENOLIT SE, Hardy Smith Designs Private Limited,Kindwood, Crane Plastics Limited, Ply Gem Residential Solutions among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.