img

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 on: 2024-07-08 | No of Pages : 240 | Industry : Construction

Publisher : MRA | Format : PDF&Excel

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 - 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.

To get key market trends

  Download Free Sample

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

What are the growth opportunities in this market?

 Download Free Sample

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

Researchers and manufacturers have been exploring novel blends of wood fibers and plastic resins to develop WPC materials that offer enhanced strength, increased weather resistance, and minimized expansion and contraction tendencies. For instance, in September 2021, Cali Bamboo LLC, a US-based omnichannel flooring and building products company, introduced a new line of thicker vinyl planks called Legends. This latest offering provides installers and homeowners with a plank that is not only highly realistic in appearance but also exceptionally comfortable. Legends feature a durable WPC core and an impressive half-inch thickness. These planks are entirely waterproof and use a click-lock system for easy installation without the need for glue or nails. With a 20-mil pet-friendly wear layer, Legends are easy to clean and have enhanced scratch resistance.

Wood Plastic Composite Flooring Market Analysis

Learn more about the key segments shaping this market

 Download Free Sample

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.

Learn more about the key segments shaping this market

 Download Free Sample

Based on end use, the building and construction segment accounted for over 73.3% of the market share in 2023 and is projected to surpass USD 2.99 billion by 2032. Urbanization patterns and the advancement of smart city initiatives are majorly driving the building and construction segment. The demand for wood plastic composites in the construction industry has been boosted by increasing infrastructure development in emerging economies like China, India, Thailand, and Brazil, along with a global need for aesthetically pleasing furniture and flooring solutions. The growing interest in wood plastic composite products, especially for decking, is expected to drive market growth.

Looking for region specific data?

 Download Free Sample

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.

North America In terms of country, US is dominating the North America wood plastic composite flooring market with revenue of around USD 537.9 million in the year 2023 and expected to reach around USD 878.9 million by 2032. The rapid growth in the construction industry, with a quicker pace of building residential and commercial structures, is expected to drive the demand for wood plastic composite boards during the forecast period. The U.S. Census Bureau reported that in February 2020, total construction was at a seasonally adjusted annual rate of 1,366,697, marking a 6.0 percent increase over February 2019. This rise in construction activities can be attributed to various government initiatives and increased Foreign Direct Investments (FDI), serving as a driving force for the wood-plastic composites market throughout the forecast period.

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.

On the other hand, India expressing fastest growth rate of around 10.8% in 2023. The increasing number of green buildings in the country is boosting demand for WPC for use in constructing pillars, balconies, fences, staircases, roofs, window frames, and other building components. Additionally, the Indian government's launch of several initiatives to raise awareness about the harmful effects of conventional construction materials on human health and the environment is serving as a major driver of growth. For instance, the Smart City Mission and Indira Awaas Yojana, designed to introduce innovative construction technologies to India through competitive platforms, also contribute to the growth of the wood-plastic composites market. The Smart Cities Mission received a budget allocation of US$ 29.2 billion in the Union Budget for 2018-19.

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

Click here to Buy Section of this Report

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.

Table of Content

Will be Available in the sample /Final Report. Please ask our sales Team.
Will be Available in the sample /Final Report. Please ask our sales Team.