Plastic Decking Market Size Worth USD 12.92 Billion in 2032 | Emergen Research

Icreasing use of customized and aesthetically appealing decking solutions are some of the factors expected to drive Plastic Decking market revenue growth

Vancouver, Jan. 10, 2024 (GLOBE NEWSWIRE) — The global plastic decking market size was USD 4.79 Billion in 2022 and is expected to register a revenue CAGR of 10.7% during the forecast period. Rising demand for modern constructions such as outdoor living spaces and backyard renovations, rapid industrialization and urbanization across the globe, growing adoption of sustainable and eco-friendly decking materials, and increasing use of customized and aesthetically appealing decking solutions are some of the factors expected to drive market revenue growth.

Increasing demand for modern constructions in recent years is driving revenue growth of the market. The increasing preference for outdoor living and recreational spaces, coupled with the growing need for storing renewable energy, is driving the global demand for contemporary constructions. This demand is primarily fueled by the need for flooring, decks, and rooftops in the construction industry.

The global construction industry’s revenue is expected to experience consistent growth in the upcoming years, with a projected size exceeding double its 2020 figure by 2030. In 2020, the construction market reached a valuation of USD 6.4 trillion, and forecasts suggest it will expand to 14.4 trillion by the year 2030. Most of this demand will be driven by residential use in construction industries, particularly in buildings. Plastic decking, known for its exceptional durability and low maintenance properties, emerges as an indispensable material in the production of furniture.

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Consequently, manufacturers in the plastic decking market are witnessing a substantial uptick in orders and sales volumes, as they play a pivotal role in meeting the burgeoning demand for innovative products. On October 18, 2022, Huttig Building Products, a Woodgrain Company and a well-recognized distributor of furniture, building materials, and wood products, established a fresh distribution collaboration with Fiberon, a prominent manufacturer of composite wood decking and railings. This partnership, aimed at supporting Fiberon’s ongoing expansion in the outdoor living sector, substantially broadens the company’s distribution network through Huttig in the Southeastern United States.

However, the volatile costs of raw materials and availability of substitutes of plastic decking pose a significant barrier to market revenue growth. The complex and resource-intensive production process involves recycled material, plastic and wood fibers, all of which contribute to higher operational expenses. To make decks more durable and long-lasting it takes lot of time and skills. Stringent quality control measures further increase production costs. These elevated overheads lead to pricing difficulties. This prompts potential buyers to explore more cost-effective alternatives, which is restraining revenue growth of the market.

Segment Insights

Resin Type Insights:

On the basis of resin type, the global plastic decking market is segmented into polyvinyl chloride, high-density polyethylene, low-density polyethylene and polypropylene. Polyvinyl chloride segment accounted for largest revenue share in the global plastic decking market in 2022 due to the rising demand for this segment in buildings, transport and electricals. PVC is durable and chemical resistant which provides easy to work in materials in construction and manufacturing. In addition, plastic decking is resistant to corrosion and provides a stable platform for construction units, safeguarding against degradation over time. Its low maintenance and water resistance also enhance the quality for use in wet environments.

Composite Insights:

On the basis of composite, the global plastic decking market is segmented into capped and uncapped plastic decking. Capped segment accounted for largest revenue share in the global plastic decking market in 2022 due to rising demand to use this technology to produce modern living areas. Capped plastic decking offers the potential for increased production yields and versatility, making it an attractive option for manufacturers seeking both economic and environmental advantages. In addition, capped technology allows for easy installations, resulting in ease of assembly and special tools. The inner core of capped composite decking is constructed of recycled plastic and wood.

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Regional Insights:

North America accounted for largest revenue share in 2022 due to the rising demand for outdoor spaces in countries across the region and increasing expenditure on new-age construction especially in U.S. and Canada. In October 2023, construction expenditure in the United States increased by 0.6% compared to the previous month, reaching a seasonally adjusted annual rate of USD 2,027.1 billion. Expenditure on private construction reached a seasonally adjusted annual rate of USD 1,579.3 billion in October, showing a 0.7% increase from the revised September figure of USD 1,567.9 billion. Residential construction in the same period was at a seasonally adjusted annual rate of USD 884.4 billion, indicating a 1.2% rise from the revised September estimate of USD 873.6 billion. The escalating construction expenditure in the United States is playing a vital role in driving revenue growth for the plastic decking market. As construction spending continues to rise, there is a corresponding surge in demand for innovative and durable building materials, such as plastic decking.

Asia Pacific is expected to register a moderately fast revenue growth rate during the forecast period due to the growing construction of recreational areas and infrastructure development in countries across the region, especially in China, Japan, South Korea, and India. The primary products within this category vinyl decking, composite decking, polyethylene decking, polypropylene decking, and PVC decking. In the initial quarter of 2023, China has expedited its infrastructure investment to boost economic growth, initiating over 10,000 projects across the country. Media reports indicate that the total investment for these initiatives amounted to around 7 trillion yuan (USD 1.03 trillion). In addition, the expansion of the manufacturing and construction industries, spurred by heightened expectations and an enhanced quality of life, has played a major role in the emergence of numerous innovative building materials and techniques, such as plastic decking in the region.

Scope of Research

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Major Companies and Competitive Landscape

The global plastic decking market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective high purity aluminum. Some of the major companies included in the global plastic decking market report are:

• Advanced Environmetal Recycling Technologies Inc.
• Ecospace UK Ltd
• Changxing Hanming Technology Co.
• Duralife Decking and Railing Systems
• Fiberon
• Cardinal Building Products
• CertainTeed
• UPM Kymene Corporation
• Vycom
• UFP Industries Inc.
• Tamko Building Products Ltd.
• Green Bay Decking LLC
• Trex Company Inc.
• The Azek Company Inc.
• London Decking Company Limited

Strategic Development

• On 17 November 2023, AZEK, a leading manufacturer of outdoor living products known for their low-maintenance and eco-friendly features, unveils a range of new offerings from its TimberTech, AZEK Exteriors, and StruXure brands. This includes the introduction of an inventive aluminum framing product, fresh decking and porch color options, an expanded selection of railing choices, a novel siding product, and the availability of a modular design for the Cabana X model.

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For the purpose of this report, Emergen Research has segmented global plastic decking market on the basis of resin type, composite, construction, end-use, and region:

• Resin Type Outlook (Revenue, USD Billion; 2019-2032)

• • Polyvinyl chloride
  • High-density polyethylene
  • Low-density polyethylene
  •  Polypropylene

• Composite Outlook (Revenue, USD Billion; 2019-2032)

• • Capped
  • Uncapped

• Construction Outlook (Revenue, USD Billion; 2019-2032)

• • Repairs and Remodeling
  • New decks on Existing houses
  • New decks on New houses

• End-Use Outlook (Revenue, USD Billion; 2019-2032)

• • Residential
  • Non-Residential

• Regional Outlook (Revenue, USD Billion; 2019–2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. U.K.
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of MEA

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