The wood-plastic composites market is projected to grow from USD 7.5 billion in 2023 to USD 11.9 billion by 2028, at a CAGR of 9.8% during the forecast period. The wood-plastic composites market is continuously growing with a significant growth rate due to its increasing demand from various applications, such as building & construction products, automotive components, industrial & consumer goods, and many others. North America, Europe and Asia Pacific are major markets for wood-plastic composites. The ecofriendly nature along with efficient properties makes wood-plastic composites preferable material under various end-use industries.

Download PDF Brochure at https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=170450806

Some of the major manufacturers operating in the wood-plastic composites market are Trex Company, Inc., (US), MoistureShield (US), UFP Industries, Inc. (US), Fiberon (US), TimberTech (US), TAMKO Building Products LLC (US), Beologic (Belgium), FKuR Kunstsoff GmbH (Germany), JELU-WERK J. Ehrler GmbH & Co. KG (Germany), and Green Dot Bioplastics, Inc. (US).

Many major players have been adopting various growth strategies in order to strengthen their position in the global wood-plastic composites market. These growth strategies include product launches, contracts, mergers and acquisitions, partnerships, and product development activities aiming expand their market presence in the wood-plastic composites market further.

Trex Company, Inc. (US) – Trex Company, Inc. is a manufacturer and supplier of wood-alternative composite decking, railing, and other outdoor living products and accessories for residential and commercial markets in the United States. Trex Company, Inc. established in 1996 and headquartered in Virginia, U.S. Trex operates in two segments: Trex Residential and Trex Commercial, under this segments company offer products such as decking, trims, railings, fencing, steel deck framing, outdoor lighting, and flooring. The company had a headcount of 1,636 employees and reported revenue worth more than USD 1,106 million in December 2022. The company has manufacturing facilities in Winchester, Virginia, and Fernley, Nevada. The company’s high-performance composites products are available in more than 29 countries and account for the largest market share of composite decking in North America. The company has 6,700 retail outlets worldwide.

Request For FREE Sample of Report at https://www.marketsandmarkets.com/requestsampleNew.asp?id=170450806

MoistureShield (US) – MoistureShield is a leading provider of composite decking and decking products, specializing in processing and converting scrap plastic and wood fiber waste into outdoor decking, fencing systems, and window and door components. The company has raised a total funding of $48 million over 2 rounds. The company’s product line includes Infuse with a realistic wood-grain finish and the ability to withstand total submersion in water, and Vantage, an uncapped composite designed as an affordable alternative to wood. MoistureShield’s use of new technologies and patents has enabled it to manufacture superior composite decking products from recycled wood fiber and recycled polyethylene plastic. In 2017 company acquired Advanced Environmental Recycling Technologes, Inc. (AERT) which pioneered the use of recycled polyethylene plastic in the manufacture of composite building materials.

Recent Developments in Wood Plastic Composites Market Industry

• In September 2023, UFP Global Holdings Ltd has acquired 80 percent of the equity in a newly formed company, UFP Palets y Embalajes SL, for approximately USD 52 million USD. UFP Palets is comprised of the former pallet manufacturing operations of Palets Suller SL, Serrería y Palets Chiva SL and Drevex Castellón SL, collectively known as Palets Suller Group.
• In August 2023, MoistureShield partners with Great Southern Wood Preserving, Inc. to expand distribution of composite decking portfolio and newly added railing product line in Pennsylvania and Kentucky.
• In June 2023, Trex Company, Inc. launched Trail Select T-Rail. Trex Select T-Rail is an affordable and easy-to-install railing option offered by Trex. It features a classic T design on top with a choice of two infill options, providing a clean yet stunning design for decks. This railing system is designed for simplified, pre-designed rail applications.
• In October 2022, Green Dot Bioplastics, Inc. and Mayco International have partnered to reclaim trim and scrap fibers for Natural Fiber Reinforced Plastic. Together, the two companies developed an NFRP composite material using the trim and scrap fibers, removing them from the waste stream and expanding the lifespan of the original materials.
• In June 2022, UFP Industries announced that its affiliate, PalletOne, Inc., has acquired a 50 percent equity stake in Dempsey Wood Products, LLC. The purchase agreement includes options for PalletOne to purchase the remaining 50 percent of Dempsey after three years.