WOOD PLASTIC COMPOSITE MARKET ANALYSIS

Key Developments

• In October 2022, Green Dot Bioplastics, Inc. and Mayco International joined forces to develop a non-fiberglass reinforced plastic (NFRP) composite material using discarded fibers and trim.
• In 2022, Green Dot Bioplastics made a significant announcement by introducing an expanded range of compostable resins. This new line of resins is aimed to provide environment-friendly alternatives to traditional plastic materials. Additionally, Green Dot Bioplastics formed a strategic partnership with Mayco International, with the shared objective of reclaiming fibers from various sources. Together, they worked towards developing innovative solutions for utilizing and repurposing these fibers in the production of sustainable composite materials.
• In July 2020, Nusaned Investment, a subsidiary of SABIC, entered into a partnership agreement with Suhul Alkhalej for industrial development. This collaboration led to the establishment of a new venture aimed at owning and operating a factory dedicated to the production of wood-plastic composite (WPC) profiles. The factory's primary focus was on manufacturing WPC profiles for decking and cladding, as well as producing WPC sheets and WPC doors. This strategic partnership sought to leverage the expertise of both entities to meet the growing demand for sustainable and innovative construction materials in the market.