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Wood Plastic Composite Floorings Market Size By Thickness (4mm, 5 mm, 5.5 mm, 6.5 mm, Above 8 mm), By End Use (Commercial, Residential), & Global Forecast, 2023-2032

  • Report ID: GMI5825
  • Published Date: May 2023
  • Report Format: PDF

Wood Plastic Composite Floorings Market Size

Wood Plastic Composite Floorings Market was valued at USD 2.4 billion in 2022 and s projected to witness 7% CAGR during 2023 to 2032. There is a growing demand for eco-friendly flooring as consumers become more environmentally conscious and seek out sustainable products. Eco-friendly flooring options are those that are made from renewable resources, are recyclable, and have a low environmental impact in terms of production and disposal. In a life cycle analysis of flooring composed of wood, it has been discovered that the wood flooring used less energy and produced less carbon dioxide emissions.
 

Wood Plastic Composite Floorings Market

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 Additionally, it is better in categories that have an impact on the environment, such as resource use, emissions of environmental toxins, emissions of air pollution, and waste generation. Rising demand for materials like wood bamboo in flooring application is likely to have positive impact on the wood plastic composite floorings market growth.
 

The construction industry has been experiencing significant development in recent years, driven by several factors such as increasing population, urbanization, and infrastructure development. The global population is increasing, leading to a growing demand for housing and other infrastructure. More people are moving to cities, which is driving the need for new residential buildings, and other commercial projects such as airports, hospitals, etc.
 

Wood Plastic Composite Flooringss Market Analysis

Residential construction in the U.S. has been steadily growing by 2032. According to the US Census Bureau, the seasonally adjusted annual rate of housing starts in March 2022 was 1.74 million, up 16.6% from the previous year. This new expansion of residential construction will led to increase in eco-friendly flooring which will boost the wood plastic composite floorings market progression by end of 2032.
 

U.S. New Residential Construction Revenue, 2021-2032 (USD Million)

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5.5 mm thickness wood plastic composite floorings require less maintenance which makes them an attractive option for homeowners and commercial property owners. Unlike traditional wood products, WPC products do not require painting or staining to maintain their appearance. These products can be easily cleaned with soap and water, reducing the need for harsh chemical cleaners. Furthermore, wood plastic composite floorings products are designed to be durable and long-lasting, reducing the need for frequent replacement or repair.
 

Wood Plastic Composite Floorings Market Revenue Share, By End-Use, 2022

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The residential sector held a major share of the wood plastic composite floorings market in 2022 owing to increase in construction of new single-family homes, townhouses, condominiums, and other residential properties. In recent years, the residential sector has experienced growth due to low interest rates, a strong economy, and a growing population in some regions which is boosting the industry growth.
 

The COVID-19 pandemic had a significant impact on the residential construction. Initially, construction activity slowed down due to supply chain disruptions, labor shortages, and social distancing measures. However, demand for single-family homes increased as people sought more space and a change in lifestyle during lockdowns. This trend was further amplified by low mortgage rates and remote work arrangements.
 

Wood plastic composite floorings market in United States was worth USD 600 million in 2022. Leading manufacturers of wood plastic composite floorings, such as Trex Company, Advanced Environmental Recycling Technologies are based in the United States. These firms are expected to step up their efforts in the coming years to make these products more affordable and effective. In addition, an expanding working population and increasing residential construction in the country will help the region to  emerge as a prominent consumer of WPC floorings.
 

Wood Plastic Composite Floorings Market Share

  • Pro Tek
  • Mannington Mills
  • Parterre Flooring
  • OAKIO
  • Spectra Contract Flooring, Coretec
  • Tecnodeck
  • Novowood
  • Leben India Pvt. Ltd
  • Armstrong Flooring
     

This market research report on wood plastic composite (WPC) floorings includes in-depth coverage of the industry with estimates & forecast in terms of volume in Million Sq. Metres and revenue in USD Million from 2018 to 2032 for the following segments:

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Market, By Thickness

  • 4mm
  • 5 mm
  • 5.5 mm
  • 6.5 mm
  • Above 8 mm

Market, By End Use

  • Commercial
  • Residential

Market, By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • Indonesia
    • South Korea
    • Malaysia
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • UAE
    • South Africa
    • Saudi Arabia

 

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The market size of wood plastic composite floorings surpassed USD 2.4 billion in 2022 and is estimated to grow at 7% CAGR from 2023 to 2032, owing to the rising preference for eco-friendly flooring.
The 5.5 mm thickness wood plastic composite flooring segment is poised to record significant growth through 2032 as it requires less maintenance, which makes them an attractive option for homeowners.
The U.S. wood plastic composite floorings business USD 600 million in 2022 and is set to grow at a robust pace from 2023 to 2032 attributed to the presence of leading manufacturers of wood plastic composite floorings in the country.
Some of the leading companies engaged in the wood plastic composite flooring industry are Pro Tek, Mannington Mills, Parterre Flooring, OAKIO, Spectra Contract Flooring, Coretec, Tecnodeck, Novowood, Leben India Pvt. Ltd, Armstrong Flooring, and others.

Wood Plastic Composite Floorings Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 10
  • Tables & Figures: 186
  • Countries covered: 19
  • Pages: 350
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