Composite Decking Market Size, Share & Industry Analysis, By Material (Recycled and New Plastic, Bamboo Fibers, Wood Fibers, Others), By Type (Capped Composites, Uncapped Composites), By Application (Residential, Commercial) And Regional Forecast, 2024-2032
KEY INDUSTRY INSIGHTS
Composite decking is also called wood-plastic. It is made from the material such as polyethylene, polypropylene, polyvinyl chloride, wood, and bamboo. The product is categorized into capped and uncapped composites. It is available in a different colours, thereby reducing the need for painted or stained to match the home's exterior. Its properties including durability and cost-effectiveness make it the best substitute over timber. Moreover, composite decking is recyclable and offers low maintenance characteristics. In the residential and commercial buildings, the product is ideal for making the surface less prone to fading, staining, mold, and scratching.
The rapidly growing construction industry will lead to an increase in the demand for composite decking. The factors such as increasing demand for low maintenance building projects, rising infrastructure development, and rising need for interior & exterior and renovation in the homes are ideal for boosting the construction industry. This results in surging the demand for composite decking. The major element, that influencing the composite decking market is the replacement of old-fashioned decking materials with capped and uncapped composite decking products. Both the products are ideal for restricting mold growth creation, rotting, and splintering. Hence, increasing product demand will propel the composite decking market growth in the upcoming years.
However, fluctuation in the raw material prices sometimes impacts the overall prices of composites decking. This restricts its adoption in various applications and is anticipated to hamper the market growth.
Key Market Driver -
The rapid growth in construction industry will boost the product consumption.
Key Market Restraint -
Fluctuation in the prices to hamper the market growth
Market Segmentation:
Based on material, the composite decking market is segmented into recycled and new plastic, bamboo fibers, wood fibers, and others. Based on type, the market is segmented into capped composites and uncapped composites. Based on application, the market is segmented into residential and commercial. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Key Players Covered:
The key players in the composite decking market include UFP Industries, Inc., Green Bay Decking, TAMKO Building Products, Inc., UPM, AZEK Building Products, Fiberon, ARCAT, Inc., PROFESSIONAL BUILDER, Trex Company, Inc., and Square Foot.
Key Insights
- Key Emerging Trends – For Major Countries
- Key Developments: Mergers, Acquisition, Partnership, etc.
- Latest Technological Advancement
- Insights on Regulatory Scenarios
- Porters Five Forces Analysis
Regional Analysis:
North America is anticipated to witness sustainable growth in the composite decking market. In this region, the US and Canada are the leading countries. The growth is attributed to the rising product demand in residential buildings. The rapid growth in the construction industry will fuel the market growth in Asia Pacific. Rising infrastructure development coupled with increasing demand for commercial buildings has surged the product adoption in Europe. The Middle East & Africa is anticipated to witness significant growth, owing to the rising demand for plastic material in the production of composite decking.
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Segmentation
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- Ongoing
- 2023
- 2019-2022
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