The global Wood-Plastic Composites (WPC) market reached a volume of around 3.3 million tons in 2017. The market is further expected to reach a volume of nearly 6 million tons by 2023, exhibiting a CAGR of around 10% during 2018-2023.
Wood-plastic composites are hybrid materials which are made by blending natural wood products such as bamboo, pulp, bark etc. with thermoplastics or polymers. These products can be easily drilled and planed and are created by using biodegradable, recycled, renewable plastic materials.
Wood-plastic composites possess qualities of both wood and plastic. These composites are versatile, durable and rot resistant in nature which makes it possible for the manufacturers to produce them in any shape. The demand for wood plastic composites has been witnessing a robust growth in the construction and automobile industries as they are inexpensive in nature and are easy to be used in different non-structural areas including balconies, staircases, pillars, etc.