India Wood Plastic Composites Market to Reach US$ 575.6 Million by 2032, Stimulated by Increasing Emphasis on Environmental Sustainability

August 24, 2023 | Chemical & Materials

According to the latest report by IMARC Group, titled “India Wood Plastic Composites Market Report by Type (Polyvinylchloride, Polypropylene, Polyethylene, and Others), Application (Building and Construction, Industrial and Consumer Goods, and Others), and Region 2024-2032,” the India wood plastic composites market size reached US$ 242.5 Million in 2023. Wood plastic composites (WPC) are hybrid materials combining wood fibers or flour with thermoplastic polymers to create a versatile and sustainable building solution. It offers a unique blend of natural aesthetics and high-performance characteristics, making them increasingly popular in the construction, automotive, and furniture industries. It has the strength of wood fibers and the durability of plastic, making them a compelling alternative to traditional materials and providing benefits, such as low maintenance, resistance to decay, and excellent dimensional stability. WPCs find widespread use in decking, railing, cladding, and fencing owing to their resistance to decay, moisture, and insects. WPC’s lightweight nature and ease of installation make them a preferred choice for commercial and residential projects, contributing to faster construction timelines and cost savings.

India Wood Plastic Composites Market Trends:

The increasing demand for WPCs due to the country's rapid urbanization and infrastructural development is one of the major factors driving the market growth. In line with this, the growing application of WPCs in the construction industry, owing to their ability to resist decay, moisture, and termites, is strengthening the market growth. Additionally, the increasing emphasis on environmental sustainability in the country, encouraging manufacturers to utilize WPCs derived from recycled wood fibers and plastic that align with green initiatives and government regulations, is positively impacting the market growth. In confluence with this, the growing push by the Government of India (GoI) for sustainable and eco-friendly practices in various industries through policy frameworks, grants, and incentives, is propelling the market growth. Besides this, the growing investment by manufacturers in research and development (R&D) efforts to produce WPCs with lower VOC content and improved biodegradability is propelling the market growth. Furthermore, the widespread product application in the automotive industry in various components and applications due to its lightweight yet robust properties for interior panels, door trims, and exterior elements, leading to fuel efficiency improvements and reduced environmental footprint, is favoring the market growth. Apart from this, the ongoing development of infrastructure projects, such as smart cities and green buildings, demanding materials that offer both performance and sustainability and the ability of WPCs to resist harsh weather conditions and its contribution to LEED certifications, is creating lucrative growth opportunities for the market. Looking forward, the market value is projected to reach US$ 575.6 Million by 2032, expanding at a CAGR of 9.78% during 2024-2032.

Market Summary:

  • Based on the type, the market has been categorized into polyvinylchloride, polypropylene, polyethylene and others.
  • On the basis of the application, the market has been divided into building and construction (windows and doors, decking and flooring, sliding and fencing and others), industrial and consumer goods and others.
  • Region-wise, the market has been segmented into South India, North India, West and Central India and East India.
  • The competitive landscape of the market has also been examined, with some of the key players being Ado Woods, Alstone Industries Private Limited, Ecoste, JKD Plastics, Kumar Arch Tech Private Limited (ECHON), Meghmani Group, SCHALEWOOD, Shubh Wood, TVL Engineers Pvt. Ltd (Floresta) and WoodAlt.

Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Million
Segment Coverage Type, Application, Region
Region Covered South India, North India, West and Central India, East India
Companies Covered Ado Woods, Alstone Industries Private Limited, Ecoste, JKD Plastics, Kumar Arch Tech Private Limited (ECHON), Meghmani Group, SCHALEWOOD, Shubh Wood, TVL Engineers Pvt. Ltd (Floresta) and WoodAlt.
Customization Scope 10% Free Customization
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Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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India Wood Plastic Composites Market to Reach US$ 575.6 Million by 2032, Stimulated by Increasing Emphasis on Environmental Sustainability
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