Freedonia Group: Wood-Look Building Materials to Gain Popularity in Exterior Applications

Demand for wood-plastic composite and plastic lumber is projected to rise nearly 4% annually through 2024.

Two popular “wood-look” building materials, wood-plastic composite (WPC) and plastic lumber, are projected to gain market share on competitive materials, such as natural wood, according to The Freedonia Group. Demand for WPC and plastic lumber in the United States is forecast to rise 3.7% annually to $4.9 billion in 2024, according to the Cleveland-based research organization. Despite some economic weakness from the coronavirus (COVID-19) pandemic, demand is expected to be sustained in 2020 and see healthy advances in the ensuing four years.