Plastic Decking Market

2021-2030 Analysis and Review Plastic Decking Market

Plastic Decking Market

Plastic Decking Market By Resin (Low-Density Polyethylene, Polyvinyl Chloride, Polypropylene), By Composite (Capped Composite Decking, Uncapped Composite Decking), By Construction (Repairs and Remodeling, New Decks on Existing Houses, New Decks on New Houses), By End User (Residential, Non-Residential) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021 – 2030

01-12-2021 REP-HC-139319 112 pages Format

Global plastic decking market is expected to grow at a CAGR of 10.7% during forecast period (2022-2030). The global plastic decking market is primarily driven bygrowth in construction industry. Globally, construction industry is undergoing radical change with the development of green building codes in US and Europe that emphasizes on the use of eco-friendly building materials and sustainable growth. According to the Green Building Solutions Organization, plastic decks are widely adopted in construction projects and renovation work. Plastic decking resists water, stain, and fade, as well as Ultra Violet (UV) light radiations. Hence, the plastic deck offers numerous advantages, therefore it has been adopted in construction industry at a large scale. Thus, steadily growing construction industry globally is promising a high adoption of plastic decking over forecast period. According to a report by Oxford Economics, Institution of Civil Engineers, the global construction market is expected to reach $8 trillion by end of 2030. Further, the report stated that US, India and China are the key countries that would account for 57% of global construction industry growth. Hence, high growth of construction sector across the globe, creating huge opportunities for the growth of global plastic decking market.

Polyethylene Market Dominates in Terms of Revenues

The global plastic decking market has been segmented on the basis of resin type, composite type construction and end-user. The resin type segment is further sub segmented into high-density High-Density Polyethylene, Low-Density Polyethylene, Polyvinyl Chloride, and Polypropylene. High-Density Polyethylene lead the resin type segment in terms of revenue in global plastic decking market with over 42.14% market share in 2021. HDPE offers various advantages that include corrosion resistance, fading resistance, weather resistance properties and others. The high production of HDPE globally across the globe act as the major driver for the growth of HPPE as a resin in the plastic decking market. To meet the rising demand of HDPE, companies have adopted HDPE for capacity expansion that may lower the prices of HDPE resin, hence positively impacting the growth of HDPE based plastic decking.

Residential Market Dominates Within the End User Segment

Residential market dominates the end-user segment of global plastic decking market by capturing largest market share of over 68% in 2021. Residential market is anticipated to grow at a CAGR of 10.8% during forecast period. The plastic decking is widely adopted in residential sector, the plastic decks are used in kitchens, living rooms, part of garden landscapes and as an alternative to stone based features such as patios to add aesthetics to living area. Plastic decks offer superior, quality, durability, aesthetics, and low maintenance compared to other counterpart (lumber based decks). The rising number of construction of new residential houses is expected to positively supplement the growth of plastic decking in the residential sector.

North America Takes the Lion’s Share

Geographically, the global plastic decking market has been segmented into North America, Europe, Asia Pacific and Rest of World (ROW). North America leads the global plastic decking market by capturing largest market share in terms of revenue of 42.26% in 2021. The plastic decking market in North America is primarily driven by changing customer demography towards more leisure and adding more aesthetics to their home/residence backed up by high disposable income per capita of countries such as US and Canada.  Further, better durability and low maintenance offered by plastic decks in contrast to softwood wood lumber decks have led to wide adoption of plastic decks in construction industry in the region. With the increase in the new construction and repair and remodeling of existing and deteriorating infrastructure, the market for plastic decking in North America is expected to grow significantly over forecast period.

APAC to be The Fastest Growing Region

Asia Pacific is anticipated to be the fastest growing region with a CAGR of 11.3% during forecast period. High economic growth of Asia Pacific has reaffirmed the real estate and construction market spurring huge growth opportunity in Asia Pacific plastic decking market. According to International Monetary Fund (IMF), Asia Pacific is the world’s economic engine. Positive economic outlook has driven government and public bodies across Asia Pacific to implement investment friendly policies driving high economic growth rate. India, China and Australia are considered as the most lucrative countries for companies operating in the plastic decking market.

Merger and acquisition is the primary strategy adopted by companies in global plastic decking market. The companies increase their dominance and market share by acquiring other companies to increase their product portfolio. M&A also enables the companies to expand their market in unexplored regions. Top companies in this market include Certainteed Corporation, Seven Trust, Azek Building Product Inc, Fiberon Inc and Others.

Historical & Forecast Period

This research report presents the analysis of each segment from 2020 to 2030 considering 2021 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segment are calculated for the forecast period from 2021 to 2030.

Report Methodology

Market revenues and CAGR were derived from primary and secondary research. Both quantitative and qualitative trends were considered for extrapolation of market revenues. The derived market estimates were further validated from top down, bottom strategies and primary research. The scope of the market is limited to the following segments of product categories and region.

Global Plastic Decking Market, By Resin Type, 2020-2030, ($Million)

  • High-Density Polyethylene
  • Low-Density Polyethylene
  • Polyvinyl Chloride
  • Polypropylene

Global Plastic Decking Market, By Composite Type, 2020-2030, ($Million)

  • Capped Composite Decking
  • Uncapped Composite Decking

Global Plastic Decking Market, By Construction Type, 2020-2030, ($Million)

  • Repairs and Remodeling
  • New Decks on Existing Houses
  • New Decks on New Houses

Global Plastic Decking Market, By End User, 2020-2030, ($Million)

  • Residential
  • Non-Residential

Global Plastic Decking Market, By Region, 2020-2030; ($ Million)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Africa

Global Impact of Covid-19 Segment, 2020-2021; US$ Mn

  • Pre Covid-19 situation
  • Post Covid-19 situation

Key questions answered in this report

  • What are the key market segments in current scenario and in the future by product categories?
  • What are the key market segments in current scenario and in the future by regions?
  • What is the key impact of Covid-19 over market revenues and market determinants in the global plastic decking market?
  • What are the primary and secondary macro and micro factors influencing the market growth currently and during the forecast period?
  • What are the primary and secondary macro and micro factors deterring the market growth currently and during the forecast period?
  • How to overcome the current market challenges and leverage the opportunities in each of the market segments?
  • Who are the key players in the operational predictive maintenance market and what are their key product categories and strategies?
  • What are the key strategies – mergers/acquisitions/R&D/strategic partnerships, etc. that companies are deploying to enhance market revenues and growth?

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