Wood Plastic Composite Flooring Market Size - By Product (Polyethylene, Polypropylene, Polyvinylchloride), By Thickness (Up to 4mm, 5 mm, 5.5 mm, 6.5 mm, Above 8 mm), By End Use (Building and Construction, Automotive Components, Industrial and Consumer Goods) & Forecast, 2024 – 2032

Published Date: July - 2024 | Publisher: MRA | No of Pages: 240 | Industry: Construction | Format: Report available in PDF / Excel Format

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Wood Plastic Composite Flooring Market Size - By Product (Polyethylene, Polypropylene, Polyvinylchloride), By Thickness (Up to 4mm, 5 mm, 5.5 mm, 6.5 mm, Above 8 mm), By End Use (Building and Construction, Automotive Components, Industrial and Consumer Goods) & Forecast, 2024 – 2032

Wood Plastic Composite Flooring Market Size

Wood Plastic Composite Flooring Market was valued at USD 2.25 billion in 2023 and is anticipated to register a CAGR of 7.1% between 2024 and 2032. As consumers are becoming more environmentally conscious, they are seeking more sustainable products and hence increasing the demand for eco-friendly products. WPC flooring often incorporates recycled materials in its construction, such as recycled wood fibers and plastic. Its robust structure and resistance to moisture and wear make it a durable choice, meaning it doesn't need to be replaced as frequently as some other flooring options.

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The increasing infrastructure development investments and the rapid expansion of commercial and residential building construction is increasing the demand for WPC in construction. Disposable income per capita has increased worldwide in recent years, especially in countries in the Asia-Pacific region. This trend is driven by the rapid industrialization and economic growth of developing nations, which is fostering the expansion of the wood plastic composite (WPC) flooring industry. This growth is benefiting various businesses across the globe, including those in the automotive, construction, and electronics sectors, among others.

Wood Plastic Composite Flooring Market Report Attributes
Report Attribute Details
Base Year 2023
Wood Plastic Composite Flooring Market Size in 2023 USD 2.25 Billion
Forecast Period 2024 - 2032
Forecast Period 2024 - 2032 CAGR 7.1%
2032 Value Projection USD 4.04 Billion
Historical Data for 2021 - 2023
No. of Pages 370
Tables, Charts & Figures 247
Segments covered Product, thickness, end-use, and region
Growth Drivers
  • Increasing demand for eco-friendly flooring
  • Growing construction industry
  • Growing urbanization
  • Increasing disposable income
Pitfalls & Challenges
  • Government regulations regarding the production of WPC
  • Limited customization

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Government restrictions related to the health and environment effects from the production of WPC materials can be stringent, particularly with regard to environmental standards and the use of specific chemical compounds in manufacturing. This can lead to increased production costs and complexity, as manufacturers must ensure compliance with a range of regulatory requirements. Additionally, WPC flooring often offers limited customization options compared to traditional wood flooring, which can be easily stained, painted, or crafted into various shapes and designs. This may limit the market's appeal to consumers and businesses seeking unique or bespoke flooring solutions.

Wood Plastic Composite Flooring Market Trends

Hey there! You know those cool outdoor decks and flooring made of wood and plastic? Well, scientists and companies have been working hard to make them even better. They've been mixing up different kinds of wood fibers and plastics to create materials that are stronger, can handle the sun and rain better, and won't shrink or expand as much. Take a look at Cali Bamboo, a flooring company. They've just come out with a new line of extra-thick vinyl planks called Legends. These planks look just like real wood, but they're super comfy to walk on. They have a tough core made of that fancy wood-plastic mix, and they're half an inch thick, so they're really sturdy. The best part? They're waterproof and click together easily without any glue or nails. Plus, they have a special layer on top that makes them pet-friendly and scratch-resistant. No more worrying about your furry friends scratching up the floors or spills ruining your deck.

Wood Plastic Composite Flooring Market Analysis

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Based on product, the polyethylene segment generating a revenue of USD 980 million in 2023 and is expected to reach USD 1.73 billion by 2032. Polyethylene is high in demand for manufacturing furniture for homes, offices, restaurants, resorts and hospitals owing to its molecular structure and special arrangement of the molecules.

Additionally, the increasing demand for polyethylene composites in the automotive industry, driven by their low cost, high stiffness, and biodegradability, is anticipated to boost market growth during the forecast period. The affordability, rigidity, ample raw material supply, and biodegradability associated with polyethylene-based wpc products are expected to create new opportunities for market expansion.

Based on thickness, the 4mm segment dominated the 31.9% market share in 2023 and is projected to reach a valuation of USD 1.21 billion by 2032. This thickness is generally more affordable compared to thicker options. This lower cost makes it attractive to a broader range of consumers, particularly those with budget constraints. Furthermore, thinner WPC flooring is more flexible, allowing it to adapt to various subfloor conditions and installation environments. Its lighter weight also makes it easier to handle and transport, which is beneficial for both DIYers and professional installers.

The 5.5 mm segment is anticipated to showcase about 8.4% CAGR up to 2032 and is expected to cross USD 1.33 billion by 2032. 5.5 mm thickness wood plastic composite floorings require less maintenance which makes them an attractive option for homeowners and commercial property owners. Unlike traditional wood products, WPC products do not require painting or staining to maintain their appearance. These products can be easily cleaned with soap and water, reducing the need for harsh chemical cleaners.

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Hey there! You know that stuff used in buildings and construction? It's a big deal, making up over 73% of the market last year. And it's only going to get bigger, reaching a whopping $2.99 billion by 2032. Why? Well, people are flocking to cities, and governments are getting smarter about how they build things. That's giving a big boost to the building industry. Plus, people want their homes to look good, so they're using wood plastic composites for things like furniture and flooring. And let's not forget about all the construction happening in places like China, India, and Brazil. They're loving these composites because they're durable, look nice, and are good for the environment. So, if you're thinking about investing in the building industry, keep an eye on wood plastic composites. They're on the rise, and they're not going anywhere soon.

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The North America region captured more than 30.5% share of the wood plastic composite flooring market followed by Europe, and Asia Pacific. The North America market is expected to reach USD 1.16 billion by 2032. The region sees increasing building and construction activities in countries such as U.S. and Mexico due to economic reforms and rising per capita income of the individuals, increasing the demand for wood-plastic composites. Wood-plastic composites are preferred due to their lightweight and good chemical and pest resistance compared to conventional wood.

Hey there! When it comes to wood-plastic flooring in North America, the United States is the undisputed kingpin. In 2023, they raked in a whopping $537.9 million, and that's only going to soar to an impressive $878.9 million by 2032. So, what's driving this surge? It's all thanks to the construction boom! We're seeing a rush of new homes and businesses going up, and that means a huge demand for those sturdy and versatile wood-plastic composite boards. In fact, the U.S. Census Bureau gave us some juicy datain February 2020, the construction frenzy was off the charts, with a 6% jump compared to the year before. And this is all because of sweet government incentives and a flood of foreign investments. So, the future's looking bright for the wood-plastic flooring market in the years to come!

Europe The Europe wood plastic composite flooring market is expressing steadily growth with CAGR of 6.2% during 2023. In terms of country, UK dominated the European market with a revenue share of 21.3% in 2023. This can be attributed to the growing construction industry in Europe which in turn is fueling the market demand. For example, in November 2021, the Office for National Statistics, a UK-based Statistics Authority, reported that the value of new construction work in Great Britain grew by 15.3%, reaching $119,750 million in 2021, up from $103,815 million in 2020.

On the other hand, France is expressing noticeable growth the of around 7.3% CAGR during the forecast period. This is due to the government initiatives being implemented by the French government to boost construction activities. For instance, to promote sustainable urban development, the French government committed to constructing all public buildings with at least 50% wood or other sustainable wood-based materials by 2022. This initiative could fuel the growth of the wood-plastic composites market.

Asia Pacific The Asia Pacific wood plastic composite flooring market is growing at fastest growth rate of around 8.6% with the market sharing of around 25.6% in the global wood plastic composites flooring market during 2023. The region’s increasing per capita income coupled with rapid industrialization are the factors boosting the growth in the Asia Pacific region.

In terms of country China dominated with the overall market share of around 22.3% in the Asia Pacific market. China is ranked among the top consumers of wood plastic composite boards due to the country's rapid expansion in the building sector. The evolving behavior of Chinese consumers, increasing local competition, fragmented distribution networks, and the growth of dual-income households are anticipated to create new opportunities for wood-plastic composite manufacturers during the forecast period.

India is set to be a powerhouse in the world economy, with a remarkable growth rate of around 10.8% expected this year. One industry that's really taking off is the production of wood-plastic composites (WPC). Why is WPC so popular in India right now? Well, for starters, there's a huge demand for it in construction. People are building more and more green buildings, and WPC is a great choice for pillars, balconies, fences, stairs, roofs, windows, and pretty much any other building part you can think of. Another reason is that the Indian government is doing a lot to encourage people to use eco-friendly building materials. They've launched programs like the Smart City Mission and Indira Awaas Yojana, which help introduce new construction technologies and raise awareness about the dangers of traditional materials. And let's not forget the big bucks. The Smart Cities Mission alone got a whopping $29.2 billion in funding in 2018. That's a lot of money to invest in building materials, and it's sure to give the WPC market a big boost.

Wood Plastic Composite Flooring Market Share

The key players operating in the market are Trex Company, Inc., Beologic, FKuR, PolyPlank AB, Jelu-Werk Josef Ehrler GmbH & Co. KG all together comprises a market share of 15 - 20% in 2023. The market is highly fragmented as it has a large number of companies competing for market share, with no single player dominating the landscape. The market is highly competitive, especially in China. It's a dynamic market with a mix of established players and new entrants, but with a tendency for some larger companies to hold a strong position.

Wood Plastic Composite Flooring Market Companies

Major players operating in the wood plastic composite flooring industry include

  • Advanced Environmental Recycling Technologies, Inc. (AERT)
  • Armstrong Flooring (Afi Licensing LLC)
  • Axion Structural Innovations LLC
  • Beologic N.V.
  • CertainTeed Corporation
  • Fiberon, LLC
  • FKur Kunststoff GmbH
  • Jelu-Werk Josef Ehrler GmbH & Co. KG
  • LVM Holding LLC (Shaw Floors)
  • Mannington Mills
  • PolyPlank AB
  • Renolit
  • TAMKO Building Products, Inc.
  • TimberTech
  • Trex Company, Inc.
  • Universal Forest Product
  • Wpc – Woodplastic A. S.

Wood Plastic Composite Flooring Market News

  • In February 2023, Trex Company, Inc., a U.S.-based producer of wood-alternative composite decking, introduced 'Trex Signature,' a premium decking product. Trex Signature is crafted to closely mimic the look of indoor hardwoods while being engineered to withstand outdoor conditions and environmental challenges.
  • In December 2022, The AZEK Company Inc. and ThredUP, an online retailer specializing in clothing, shoes, and accessories, formed a recycling partnership to transform the plastic films from ThredUP's Clean Out Kits into TimberTech Composite Decking products. This collaboration results in highly durable, low-maintenance outdoor living products.

This wood plastic composite flooring market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Million) and volume (Thousand units) from 2021 to 2032, for the following segments

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Market, by Product

  • Polyethylene
  • Polypropylene
  • Polyvinylchloride
  • Others (Polylactic Acid (PLA))

Market, by Thickness

  • Upto 4mm
  • 5 mm
  • 5.5 mm
  • 6.5 mm
  • Above 8 mm

Market, by End Use

  • Building and Construction
    • Decking
    • Molding & siding
    • Fencing
  • Automotive Components
  • Industrial and Consumer Goods
  • Others

The above information is provided for the following regions and countries

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Rest of Asia Pacific 
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America 
  • MEA
    • UAE
    • Saudi Arabia
    • South Africa
    • Rest of MEA

 

 

Table of Content

Report Content

Chapter 1   Methodology & Scope

1.1    Market scope & definition

1.2    Base estimates & calculations

1.3    Forecast parameters

1.4    Data sources

1.4.1    Primary

1.4.2    Secondary

1.4.2.1    Paid sources

1.4.2.2    Public sources

Chapter 2   Executive Summary

2.1    Industry 3600 synopsis, 2021 - 2032

Chapter 3   Industry Insights

3.1    Industry ecosystem analysis

3.1.1    Factor affecting the value chain

3.1.2    Disruptions

3.1.3    Future outlook

3.1.4    Manufacturers

3.1.5    Distributors

3.2    Regulatory landscape

3.3    Impact forces

3.3.1    Growth drivers

3.3.1.1    Increasing demand for eco-friendly flooring

3.3.1.2    Growing construction industry

3.3.1.3    Growing urbanization

3.3.1.4    Increasing disposable income

3.3.2    Industry pitfalls & challenges

3.3.2.1    Government regulations regarding the production of WPC

3.3.2.2    Limited customization

3.4    Consumer buying behavior analysis

3.4.1    Demographic trends

3.4.2    Factors affecting buying decision

3.4.3    Consumer product adoption

3.4.4    Preferred distribution channel

3.4.5    Preferred price range

3.5    Growth potential analysis

3.6    Porter’s analysis

3.7    PESTEL analysis

Chapter 4   Competitive Landscape, 2023

4.1    Introduction

4.2    Company market share analysis

4.3    Competitive positioning matrix

4.4    Strategic outlook matrix

Chapter 5   Market Estimates & Forecast, By Product, 2021 – 2032, (USD Million) (Thousand Units)

5.1    Key trends

5.2    Polyethylene

5.3    Polypropylene

5.4    Polyvinylchloride

5.5    Others (Polylactic Acid (PLA))

Chapter 6   Market Estimates & Forecast, By Thickness, 2021 – 2032, (USD Million) (Thousand Units)

6.1    Key trends

6.2    Up to 4mm

6.3    5 mm

6.4    5.5 mm

6.5    6.5 mm

6.6    Above 8 mm

Chapter 7   Market Estimates & Forecast, By End Use, 2021 – 2032, (USD Million) (Thousand Units)

7.1    Key trends

7.2    Building and construction

7.2.1    Decking

7.2.2    Molding & siding

7.2.3    Fencing

7.3    Automotive components

7.4    Industrial and consumer goods

7.5    Others   

Chapter 8   Market Estimates & Forecast, By Region, 2021 – 2032, (USD Million) (Thousand Units)

8.1    Key trends

8.2    North America

8.2.1    U.S.

8.2.2    Canada

8.3    Europe

8.3.1    Germany

8.3.2    UK

8.3.3    France

8.3.4    Italy

8.3.5    Spain

8.3.6    Rest of Europe

8.4    Asia Pacific

8.4.1    China

8.4.2    India

8.4.3    Japan

8.4.4    South Korea

8.4.5    Australia

8.4.6    Rest of Asia Pacific

8.5    Latin America

8.5.1    Brazil

8.5.2    Mexico

8.5.3    Rest of Latin America

8.6    MEA

8.6.1    UAE

8.6.2    Saudi Arabia

8.6.3    South Africa

8.6.4    Rest of MEA   

Chapter 9   Company Profiles (Business Overview, Financial Data, Product Landscape, Strategic Outlook, SWOT Analysis)

9.1    Advanced Environmental Recycling Technologies, Inc. (AERT)

9.2    Armstrong Flooring (Afi Licensing LLC)

9.3    Axion Structural Innovations LLC

9.4    Beologic N.V.

9.5    CertainTeed Corporation

9.6    Fiberon, LLC

9.7    FKur Kunststoff GmbH

9.8    Jelu-Werk Josef Ehrler GmbH & Co. KG

9.9    LVM Holding LLC (Shaw Floors)

9.10    Mannington Mills

9.11    PolyPlank AB

9.12    Renolit

9.13    TAMKO Building Products, Inc.

9.14    TimberTech

9.15    Trex Company, Inc.

9.16    Universal Forest Product

9.17    Wpc – Woodplastic A. S.

  • Advanced Environmental Recycling Technologies, Inc. (AERT)
  • Armstrong Flooring (Afi Licensing LLC)
  • Axion Structural Innovations LLC
  • Beologic N.V.
  • CertainTeed Corporation
  • Fiberon, LLC
  • FKur Kunststoff GmbH
  • Jelu-Werk Josef Ehrler GmbH & Co. KG
  • LVM Holding LLC (Shaw Floors)
  • Mannington Mills
  • PolyPlank AB
  • Renolit
  • TAMKO Building Products, Inc.
  • TimberTech
  • Trex Company, Inc.
  • Universal Forest Product
  • Wpc – Woodplastic A. S.

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