ECONOMIC ANALYSIS AND DEVELOPMENT STRATEGY OF THE WOOD-POLYMER COMPOSITES MARKET
Abstract
This article examines the global wood-plastic composites (WPCs) market from economic and strategic perspectives. In 2023, the market was valued at approximately USD 7.3 billion and is projected to grow at a compound annual growth rate (CAGR) of 5.6% during 2024–2032. The study analyzes the key factors influencing market development, including environmental sustainability, material innovation, and changes in demand across different market segments. Particular attention is given to the application of WPCs in construction, automotive manufacturing, furniture, and consumer goods. The article also considers market development opportunities, segmentation trends, and the potential for Uzbekistan to participate in this growing market through local production, investment, technological cooperation, and supportive economic measures.Keywords
wood-plastic composites (WPCs), sustainable materials, economic analysis, market development, market trends, recycled materials, environmental sustainabilityReferences
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