, /PRNewswire/ -- The global wood-plastic composites market size is estimated to grow by from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of about 13.41% during the forecast period.
The global hardwood market faces challenges due to supply imbalances and price hikes. Manufacturers and stakeholders turn to composites, particularly WPCs, for their benefits. Currency exchange rates and European oak supply are key factors influencing hardwood prices.
In , supply improvements but sourcing restrictions persist. European exports are increasing due to currency devaluation. These elements are expected to impact the growth of the WPC market during the forecast period.
Get a detailed analysis on regions, market segments, customer landscape, and companies- The wood-plastic composites market is experiencing significant growth due to the increasing demand for sustainable and durable building materials. These composites, made from a combination of wood fibers and plastic resins, offer advantages such as resistance to weathering, rot, and insect damage. Recent trends include the use of recycled plastic in the production of these composites, making them an eco-friendly alternative to traditional building materials.
Additionally, advancements in technology have led to improvements in the appearance and performance of wood-plastic composites, making them a popular choice for decking, siding, and other outdoor applications. The market is expected to continue grow.
