|Market Size in 2022||Market Forecast in 2030||CAGR (in %)||Base Year|
|USD 5.6 Billion||USD 12.5 Billion||10.5%||2022|
Plastic Decking Market
The global plastic decking market size was worth around USD 5.6 Billion in 2022 and is predicted to grow to around USD 12.5 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 10.5% between 2023 and 2030. The report analyzes the global plastic decking market’s drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the plastic decking industry.
Plastic decking is a flat surface that is typically used higher than the ground level in front facades of buildings. It is mainly made of recycled plastic or virgin plastic, which is made without the use of fillers during the manufacturing process. Plastic decking is extremely stain-resistant and does not require finishing or significant maintenance. It keeps the visual value and deck quality intact because splintering is not a problem. Additionally, plastic decking exhibits excellent resistance to fading and moisture. As a result, it can be used in areas with high humidity and frequent rain. Plastic decking has been encouraged for use in the building of residential decking boards, window lines, rails and balusters, door components, sliding, and fencing due to its extensive durability.
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Increased demand for plastic decks because of their benefits drives the market growth
Major factors influencing the global plastic decking market revenue growth include rising urbanization and industrialization, increased demand for contemporary architecture, and a shift away from the use of conventional materials for decking. Building facades made of recycled plastic materials use plastic decking, an elevated smooth surface structure. It improves the aesthetic value and quality of a deck while requiring little maintenance and being highly resistant.
These materials are also moisture and humidity resistant, which boosts their demand in the building sector. Because they are made of synthetic materials rather than natural ones like wood, plastic deck boards are waterproof and weatherproof. Extreme weather conditions like rain, snow, and sweltering heat are no challenge for plastic deck boards. High-Density Polyethylene (HDPE), Low-Density Polyethylene (LDPE), Polyvinyl Chloride (PVC), and polypropylene are the most common materials used to make flooring. Due to their exceptional durability in residential applications, increased use of HDPE and LDPE materials is a key driver fueling market revenue development. Due to its exceptional flexibility and elasticity, recycled plastic is also perfect for creating decking and outdoor furniture.
Ultraviolet rays can damage PVC which hinders the market growth
Polyvinyl Chloride (PVC) platforms are susceptible to damage from the sun's UV rays. Due to weather and storms, composite flooring gets scratched over time. Products made of PVC for flooring are vulnerable to mold growth, peeling, stains, and deterioration. Homeowners who purchased PVC decking at a premium price often complain that within a year or two, the decking has begun to deteriorate, peel, fade, or develop mildew. This is a consistent pattern in customer complaints. Although consumers frequently encounter resistance from manufacturers when they request replacement decking as per their warranties, the repair of any defective PVC decking products is assured under the warranties. Plastic decking suffers from loose joints and hue changes in hot weather, which restricts the plastic decking industry growth.
Technological advancement provides a lucrative opportunity
The plastic decking market players operating in the market are continuously launching innovative products with new features. For instance, in October 2022, the launch of Fire Retardant (FR) Class A decking and siding materials for commercial and residential use was confirmed by Woodbrid LLC. The recently created formula has been put through rigorous testing by ASTM E84-21a, a standard test method for surface burning characteristics of building materials, and a stringent building fire code.
This kind of FR material gives the Woodbrid product line a competitive edge to meet all construction requirements for decking and siding materials. Thus, this type of technological advancement is expected to offer an attractive opportunity for market growth over the forecast period.
The high cost of PVC decking poses a major challenge
PVC decking frequently costs more than comparable, less expensive composites of the same grade. Most makers advise against using PVC with rubber or PVC products (such as a welcome mat) because it has been known to degrade them. This poses a major challenge for market expansion.
The global plastic decking industry is segmented based on resin type, composite type, construction type, end-use, and region.
Based on the resin type, the global market is bifurcated into PVC, HDPE, LDPE, and polyethylene. The PVC segment is expected to dominate the market during the forecast period. PVC decking is made of plastic polyvinyl chloride and doesn't contain any organic components like a wood floor. Since PVC doesn't contain any organic material, it is made to avoid some of the drawbacks of organic floorings, such as moisture intrusion that causes mold, mildew, and rot.
There is no need to paint, sand, or stain PVC decking. Its rare inclusion of recycled plastic makes it a resource-conserving, green product. The product is significantly lighter than wood composite products and can be twisted and curved to create custom combinations.
Based on the composite type, the global plastic decking industry is segmented into capped and uncapped. The capped segment accounted for the largest market share in 2022 and is expected to continue the same pattern during the forecast period. Wood and recycled plastic are combined to create the inner structure of capped composite decking. Capped composite decking has a recycled content of between 75% and 95%. Besides, the uncapped segment is growing at a moderate rate over the forecast period. Uncapped composite decking outperforms treated wood and is made of a mix of FSC-certified wood and recycled HDPE plastic. It has many advantages and can be purchased from trustworthy suppliers like composite prime.
Based on the construction type, the global plastic decking market is segmented into repairs & remodeling and new decks. The new deck segment is growing at a rapid rate over the forecast period. Building facades often use plastic decking, a raised smooth surface structure made from recycled plastic. It enhances the deck's aesthetic value and quality is extremely resistant to weather changes and needs little upkeep. Due to their resistance to moisture and humidity, these materials are in higher demand in the building sector.
Based on the end-use, the global plastic decking industry is divided into residential and non-residential. The residential segment is expected to dominate the market over the forecast period. The growth in the segment is attributed to the customers preferring high-quality and low-maintenance decks. Additionally, the completion of new and existing homes as well as home modifications is fueling the segment's revenue growth. More and more homeowners are focusing on adding a deck to their homes to increase their living space and home value.
|Report Attributes||Report Details|
|Report Name||Plastic Decking Market Research Report|
|Market Size in 2022||USD 5.6 Billion|
|Market Forecast in 2030||USD 12.5 Billion|
|Compound Annual Growth Rate||CAGR of 10.5%|
|Number of Pages||208|
|Forecast Units||Value (USD Billion), and Volume (Units)|
|Key Companies Covered||Universal Forest Products, Inc., UPM Kymmene Corporation, Advanced Environmental Recycling Technologies, Inc., Fiberon, LLC, Cardinal Building Products, Azek Building Products, Inc., Certainteed Corporation, Green Bay Decking, LLC, Duralife Decking and Railing Systems, Tamko Building Products, Inc., Ecospace, London Decking Company, TREX, Timbertech, and Changxing Hanming Technology Co., LTD among others.|
|Segments Covered||By Resin Type, By Composite Type, By Construction Type, By End-Use, And By Region|
|Regions Covered||North America, Europe, Asia Pacific (APAC), Latin America, Middle East and Africa (MEA)|
|Countries Covered||North America: U.S and Canada
Europe: Germany, Italy, Russia, U.K, Spain, France, Rest of Europe
APAC: China, Australia, Japan, India, South Korea, South East Asia, Rest of Asia Pacific
Latin America: Brazil, Argentina, Chile
The Middle East And Africa: South Africa, GCC, Rest of MEA
|Historical Year||2016 to 2020|
|Forecast Year||2023 - 2030|
|Customization Scope||Avail customized purchase options to meet your exact research needs. Request For Customization|
North America is expected to dominate the market during the forecast period
North America is expected to drive the growth of the plastic decking industry market during the forecast period. It is anticipated that strong demand for low-maintenance building materials from the region's quickly expanding construction sector will drive market revenue growth. In addition, stringent laws outlawing the use of wood in North America have accelerated the adoption of plastic decking. Consumer interest in outdoor living is anticipated to increase as more people seek to add a deck to their homes to increase their available living space and property value. The primary factors influencing decking demand will be an increase in home renovations and housing completions. As part of the outdoor living trend, more restaurants and hotels are anticipated to construct decks to provide customers with comfortable places to sit and dine outside.
Europe is expected to hold the second-largest market share over the forecast period. One of the most important applications for wood-plastic composites in Europe is decking, where sales of solid profiles outpace those of hollow ones. In November 2021, construction in the nations of the European Union grew by 1.30% compared to the same month the previous year, increasing market demand. Additionally, the French government started making preparations to hold the Olympics in 2024. For instance, the government has authorized a total of about USD 3.3 billion for the development of the Hermitage towers, which are anticipated to be finished by 2024, in turn, drive the growth of the market during the forecast period.
The global plastic decking market is dominated by players like:
By Resin Type
By Composite Type
By Construction Type
Plastic decking also referred to as polyvinyl chloride (PVC) or synthetic decking, is mainly created using recycled or new plastics without the addition of fillers.
The plastic decking market is likely to observe substantial growth in the coming years due to the boom in construction activities in emerging economies, the development of product innovations, and increasing demand for modern constructions worldwide, which is the result of rapid urbanization, growth in industrialization, large-scale investments in infrastructure sectors.
According to the report, the global market size was worth around USD 5.6 billion in 2022 and is predicted to grow to around USD 12.5 billion by 2030.
The global plastic decking market is expected to grow at a CAGR of 10.5% during the forecast period.
The global plastic decking market growth is expected to be driven by North America. It is currently the world’s highest revenue-generating market owing to strong demand for low-maintenance building materials from the region's quickly expanding construction sector will drive market revenue growth.
The global plastic decking market is dominated by players like Universal Forest Products, Inc., UPM Kymmene Corporation, Advanced Environmental Recycling Technologies, Inc., Fiberon, LLC, Cardinal Building Products, Azek Building Products, Inc., Certainteed Corporation, Green Bay Decking, LLC, Duralife Decking and Railing Systems, Tamko Building Products, Inc., Ecospace, London Decking Company, TREX, Timbertech, and Changxing Hanming Technology Co., LTD among others.