ID: MRFR/CO/1340-HCR | 130 Pages | Author: Harshita Gorade | June 2023
Plastic Decking Market Size was valued at USD 4 Billion in 2022. The Plastic Decking market industry is projected to grow from USD 7 Billion in 2023 to USD 11 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 11.00% during the forecast period (2023 - 2030). Plastic decking has plenty of high-end benefits. It comes with stain-resistance properties. It is possible to use plastic decking without any finishing or maintenance the key market drivers enhancing market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The rise in urbanization has been a significant driver of the plastic decking market. As more people move into cities and urban areas, the demand for outdoor living spaces and recreational areas has increased. Plastic decking is a popular choice for these spaces because it offers a low-maintenance, durable, and attractive alternative to traditional wood decking. Plastic decking is also highly resistant to moisture, mold, and mildew, making it ideal for use in areas with high humidity or near water, such as around swimming pools or bodies of water. Additionally, plastic decking is often made from recycled materials, making it an environmentally friendly option for consumers who are concerned about sustainability.
As urbanization continues to drive the demand for outdoor living spaces, the plastic decking market will likely continue to grow. This trend is not just limited to developed countries but is also seen in developing countries where urbanization rates are increasing rapidly. Therefore, such factors related to Plastic Decking have enhanced the Plastic Decking market CAGR across the globe in recent years.
The Plastic Decking market segmentation, based on material, includes HDPE, PP, PVC, LDPE and others. The HDPE segment held the majority share in 2022 of the Plastic Decking market revenue. HDPE (high-density polyethylene) is a commonly used material for plastic decking due to its durability, resistance to moisture, and ease of maintenance. This was due to its cost-effectiveness, availability, and growing demand for low-maintenance decking options.
The Plastic Decking market segmentation, based on composite, includes Capped and Uncapped. The capped segment held the majority share in 2022 of the Plastic Decking market revenue. This is because capped decking offers superior durability and resistance to fading, staining, and scratching, making it a popular choice among homeowners.
Based on end use, the Plastic Decking market segmentation includes Residential and Non-Residential. The residential segment dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period, 2023-2030. This growth is attributed to factors such as increasing consumer spending on home renovation projects, rising construction activities in the residential sector, and the growing popularity of low-maintenance decking options. These all factors for Plastic Decking positively impact the market growth.
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia Pacific region held the second-highest plastic decking market share in terms of revenue. This was driven by factors such as rapid urbanization, increasing disposable incomes, and the growing demand for low-maintenance and eco-friendly decking materials in countries such as China, India, and Australia.
Further, the major countries studied in the market report are The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Europe’s Plastic Decking market accounts for the third-largest market share. The factors such as the increasing demand for sustainable and low-maintenance decking materials, rising construction activities, and the growing trend of outdoor living spaces in the region as drivers of the market growth. Further, the Germany Plastic Decking market held the largest market share, and the UK Plastic Decking market was the fastest-growing market in the European region.
North America, Plastic Decking market, is expected to hold the largest market share from 2023 to 2030. This is attributed to factors such as the high demand for low-maintenance decking options, the growing trend of outdoor living spaces, and the increasing popularity of plastic decking materials in the region. The increasing demand for sustainable and eco-friendly decking materials, the rising demand for customized and aesthetically appealing decking solutions, and the growing trend of outdoor living spaces and backyard renovations in the region are driving the market. Moreover, the U.S. Plastic Decking market held the largest market share, and the Canada Plastic Decking market was the fastest-growing market in the North American region.
Major market players are spending a lot of money on R&D to increase their product lines, which will help the Plastic Decking market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Plastic Decking industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth for Plastic Decking. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Plastic Decking industry must offer affordable products.
Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the Plastic Decking industry to benefit customers and expand the market sector. Major Plastic Decking market players, including UPM Kymmene Corporation, Universal Forest Products, Inc., Advanced Environmental Recycling Technologies, Inc., Azek Building Products Inc, Fiberon LLC, Cardinal Building Products, TAMKO Building Products, Inc., CertainTeed Corporation, Green Bay Decking, LLC and DuraLife Decking & Railing Systems, and others, are attempting to increase market demand by funding R&D initiatives.
UPM Kymmene Corporation is a Finnish company that operates in the forest industry. The company produces and sells a range of products, including pulp, paper, plywood, and timber. UPM also produces composite materials, including plastic decking, under the brand name UPM ProFi. The company's plastic decking products are made from a blend of recycled materials and are marketed as sustainable and low-maintenance alternatives to traditional wood decking.
Universal Forest Products, Inc. is a US-based company that operates in the wood and lumber industry. The company produces and sells a variety of wood-based products, including lumber, panels, and treated wood. Universal Forest Products also manufactures and distributes composite decking products under the brand names Latitudes and Tropics. The company's composite decking products are made from a blend of wood fibers and plastic and are marketed as a low-maintenance and eco-friendly alternative to traditional wood decking.
Universal Forest Products, Inc.
Advanced Environmental Recycling Technologies, Inc.
Azek Building Products Inc
TAMKO Building Products, Inc.
Green Bay Decking, LLC
DuraLife Decking & Railing Systems among others
The key players in the market are launching plastic decking with UV inhibitors, a new product that can solve the plastic from melting issues. These plastic decking will be highly resistant to UV rays and heat, which will offer more durability and resistance to the product, increasing the life span of the decking.
PP & PVC
Rest of Europe
Rest of Asia-Pacific
Rest of the World
|Market Size 2022||USD 04 Billion|
|Market Size 2023||USD 07 Billion|
|Market Size 2030||USD 11 Billion|
|Compound Annual Growth Rate (CAGR)||11.00% (2023-2030)|
|Market Forecast Period||2023-2030|
|Historical Data||2018 & 2020|
|Market Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Material, Composite, End-Use, and Region|
|Geographies Covered||North America, Europe, Asia Pacific, and Rest of the World|
|Countries Covered||The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil|
|Key Companies Profiled||UPM Kymmene Corporation, Universal Forest Products, Inc., Advanced Environmental Recycling Technologies, Inc., Azek Building Products Inc, Fiberon LLC, Cardinal Building Products, TAMKO Building Products, Inc., CertainTeed Corporation, Green Bay Decking, LLC and DuraLife Decking & Railing Systems|
|Key Market Opportunities||Rapid urbanization Rising construction activities|
|Key Market Dynamics||Low maintenance building products|
The growth rate of the plastic decking market is estimated at 10.47% for the forecast period 2030
The key players of the plastic decking market are DuraLife Decking & Railing Systems, UPM Kymmene Corporation, Green Bay Decking, Universal Forest Products, Advanced Environmental Recycling Technologies, Green Bay Decking, Fiberon LLC, Cardinal Building Product and TAMKO Building Products.
Asia-Pacific market accounted for the largest share in the total market of plastic decking,
Plastic Decking Market is projected to be worth USD 11,486.1 Million by 2030
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