Plastic decking market size is expected to cross USD 5 Billion at CAGR of approximately 11% by 2022
The covid 19 challenges are different for every global market. Due to the pandemic, there are several restrictions in the plastic decking market. Since the start of covid 19, the demand for the product started to decline. However, manufacturing will gradually resume in the upcoming years. The supply chain of the plastic decking market is experiencing disruptions from distributors and suppliers. As per the plastic decking market analysis, plastic decking will witness growth from next year. It will ultimately lead to exceptional plastic decking market trends in the forecast period 2022. The construction industry is facing plenty of restraints. It is another factor that negatively impacts the plastic decking market.
The plastic decking market is diversified into Asia Pacific, North America and Europe. North America will outgrow the other plastic decking market in the forecast period. Europe is another vast market that has plenty of construction requirements. the use of plastic decking in hotels, building and other construction sites is high. Also, the low maintenance quality of the plastic decking rise demand in this region. Market outlook in Asia pacific is exceptional. Asia pacific has tremendous demand for plastic decking.
The growth in infrastructural development is causing high demand in this region. Furthermore, as the cost of plastic decking is reasonable the end-users make the demand in large quantities. Middles east are another plastic decking market that has massive demand. The construction and industrialization are fuelling the plastic decking market growth in this region. During the forecast period, these regions will be key contributors to the global market.
The plastic decking is less competitive. However, it is a low investment market with high profitability. During the forecast period, the key players are expanding the market portfolio and creating more product awareness. Also, plastic decking market analysis suggests that the competition will reach a peak in the forecast period. All these strategies will fuel market growth.
The key players of the plastic decking market are
Plastic decking is formulated from the process of plastic material recycling. The plastic decking process is crucial for plenty of applications. They are a part of the construction industry. It is used majorly for crafting, decking board’s door, fencing, sliding and much more. The plastic decking can offer durability on the back of any item used for construction. The plastic decking market has plenty of product segments. Also, the HDPE segment of the market receives the highest demand in the forecast period. The HDPE comes with high durability and stiffness features.
Plastic decking is used in both residential and non-residential construction work. Further, there are both capped composites and uncapped composites available in the plastic decking. The plastic decking can offer exceptional coating to any material during the building process. The plastic decking industry is witnessing more popularity in recent times. The global plastic decking market size was valued at around USD 2 Billion in 2015 and is expected to cross USD 5 Billion at CAGR of approximately 11% by 2022. The market has excellent growth potential due to their massive requirement in the construction industry. The urbanization and other construction projects in the upcoming years will continue to fuel the plastic decking market.
The product variation in the plastic decking market is the crucial driver for the market. The plastic decking is available in PVC, PP, LDPE, and HDPE. This plastic decking comes with exceptional resistance and durability. The product variation is a crucial driver for the plastic decking market. Also, there are capped and uncapped plastic composites that are highly useful in the construction industry. The capped plastic decking is used as a UV coating.
Also, it is used in plenty of items such as wood hat will, not fade rot. These varieties and features of plastic decking are useful in plenty of applications. These crucial drivers escalate the demand for plastic decking in the forecast year. Additionally, plastic decking has plenty of other high-end benefits. It comes with stain resistance properties. It is possible to use plastic decking without any finishing or maintenance. Due to these many benefits, plastic decking market size growth will continue in the forecast period.
The plastic decking products are low cost and low maintenance. It is a crucial benefit of the product that offers plenty of market growth opportunities. In the upcoming years, industrialization will rise massively. The need to manufacture and produce industrial items will be enormous. During all these processes the plastic decking will be used. Also, the properties of the plastic decking are suitable for any industrial purpose.
The low-cost feature is the vital reason for the use of plastic decking in the industrial sector. Furthermore, the rising population results in more building construction. In the upcoming years, the construction industry will witness high demand. It will ultimately benefit the plastic decking market. The plastic decking is used in wood, construction site or more construction equipment. The low maintenance feature makes it suitable to use in the construction industry. The plastic decking will also be used in marinas, hotels and resorts. All these aspects provide exceptional growth opportunity for the market.
The plastic decks are stable or unstable depending upon the climatic condition. The product is highly dependent on external factors. The possibilities plastic decking melting is high in heat. The product can lose its shape and can become unstable. This disadvantage of the product is a restrain to the market. Most of the industries purchase plastic decking due to their durable support to other equipment.
However, the easy melting or unstable property of the plastic decking can be a loss for the investors. Due to this, some of the industries remain hesitant about the use of plastic decking. All these factors can have a declining impact on the market demand. Due to this prediction limitation, plastic decking is considered as an raw material wastage in many industries.
The R&D in the plastic decking industry is less. The plastic decking can be used for high-end purposes with exceptional research. There are plenty of development possibilities in the product. However, the industry receives fewer investments in research and development. It is a significant challenge in the market. The lack of product development can cause stagnant demand and less market expansion rates. In the long run, there will be other excellent alternatives for plastic decking. This is a serious threat to the market that can slow down the demand and profitability.
The growth rate of the plastic decking market looks stable. The market growth is moderate and it will continue till the forecast period. The market has both exceptional development opportunities and serious limitations. Amidst the limitations, the market growth looks positive.
In the upcoming years, the adoption rate of plastic decking will be substantial. However, there is a need to fix product instabilities such as plastic losing and melting in the heat. Also, there is a need to make more investment in the plastic decking market. The key players of the market are making plenty of product development measures in the forecast. Moreover, the overall plastic decking growth analysis shows a surging figure.
North America holds the highest plastic decking market share. Also, North America is known for its booming industrial and construction industry. The market has massive spending power. Also, investing in plastic decking is a cost-efficient aspect in the region. Therefore, this region witnesses massive demand for the plastic decking market. Also, the well-established market players offer exceptional quality plastic decking to the industries. This region will witness High plastic decking market revenue rate. The growth opportunities and R&D investment are higher in this region.
By plastic resin type
By construction type
|Market Size||2022 : USD 5 Billion|
|CAGR||11% CAGR (2020-2027)|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By technology, capacity type and by applications|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||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||
|Key Market Drivers||Low maintenance building products|
Frequently Asked Questions (FAQ) :
The growth rate of the plastic decking market is estimated at 11 % for the forecast period.
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.