The global market for applications of wood-plastic composites (WPCs), cellulosic plastics, plastic lumber and natural fiber composites is estimated at about 2.4 million metric tons in 2011. By 2016, it is estimated at nearly 4.6 million metric tons and rising at a robust compound annual growth rate (CAGR) of 13.8%.
The market for building products is expected to experience the highest growth, at a compound annual growth rate (CAGR) of 12.4% during the 5-year period from 2011 to 2016. This sector is expected to be worth 1.7 million metric tons in 2011 and nearly 3.2 million metric tons in 2016.
The market for automotive applications is estimated at 0.3 million metric tons in 2011 and is expected to increase at 17.1% compound annual growth rate (CAGR) to reach nearly 0.8 million metric tons in 2016.
|Source: BCC Research|
Source: BCC Research, press release, 2011-06.