US: Demand for wood-plastic composites forecast to grow

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US demand for wood-plastic composite and plastic lumber is forecast to rise 9.8% annually through 2018, according to a Freedonia market study (Wood Plastic Composite & Plastic Lumber, Study 3145, June 2014).

Demand is expected to reach US$5.5 billion in 2018. In 2013, the market was worth US$3.45 billion according to Freedonia. The main end uses of wood-plastic composite and plastic lumber are traditional wood product applications: decking, mouldings and trim, fencing, landscaping and outdoor products. Decking is the largest market for wood-plastic composite and to a lesser degree for plastic lumber.

Demand for wood- plastic composite and plastic decking was US$1.4 billion in 2013, accounting for 19% of the total decking market. Demand is expected to grow 12% annually to reach US$2.47 billion in 2018.

The second - largest market for wood-plastic and plastic is mouldings and trim, worth US$1.0 billion in 2013. Annual growth is forecast at 8.7%, with demand estimated at US$1.5 billion by 2018.

Demand for wood-plastic composite and plastic in fencing and outdoor products is expected to grow at a slightly lower rate of under 8% annually. Other miscellaneous applications will account for US$415 million in 2018, up from US$285 million in 2013.

Wood-plastic composite decking that copy the appearance of expensive wood species such as ipe and redwood are increasingly available and popular. Wood-plastic composite producers have also improved manufacturing technologies in recent years to improve resistance to fading and decay.

As wood-plastic products improve and consumers prefer low maintenance products, wood-plastics will continue to compete with wood in decking and other outdoor products. Environmental group files lawsuit over formaldehyde content in flooring made in China.

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