USD 3.31 billion
Composite Decking Market Size, Share, Growth Analysis, By Material Type(Wood-Plastic Composite (WPC), Capped Composite, and Uncapped Composite), By Product(Solid Composite Decking, Hollow Composite Decking, and Capped Vs Uncapped.), By End-Use(Residential and Commercial), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15F2140 |
Region:
Global |
Published Date: March, 2024
Pages:
184
|Tables:
88
|Figures:
72
Composite Decking Market Insights
Global Composite Decking Market size was valued at USD 3.31 billion in 2022 and is poised to grow from USD 3.84 billion in 2023 to USD 12.69 billion by 2031, growing at a CAGR of 16.1% during the forecast period (2024-2031).
The global composite decking market refers to the market for composite decking materials, which are manufactured from a combination of wood fibers or wood flour and plastic. These materials offer several advantages over traditional wood decking, including enhanced durability, resistance to rot, decay, and insect damage, low maintenance requirements, and a longer lifespan.
Increasing urbanization is one of the main driving factors in the plastic flooring industry. As more people move into cities and urban areas, the demand for outdoor living spaces and recreational areas has increased. Composite decking is a popular choice for these spaces because it offers a low-maintenance, durable, and attractive alternative to traditional wood decking. Composite 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. 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 Composite decking market CAGR across the globe in recent years
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Wood-Plastic Composite (WPC)
Fastest Growth
Capped Composite
Growth Rate
16.1% CAGR
Global Composite Decking Market ($Bn)
Country Share for North America Region (%)
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Composite Decking Market Segmental Analysis
The global composite decking market can be segmented based on various factors, including material type, product type, end-use application, and geography. Based on material type market is segmented into wood-plastic composite (WPC), capped composite, and uncapped composite. Based on product type market is segmented into solid composite decking, hollow composite decking, and capped vs uncapped. Based on the end-use application type market is segmented into residential and commercial. Based on geography market is segmented into North America, Asia Pacific Region, Europe, Middle East, and Africa.
Analysis by Material Type
The dominant segment in the global composite decking market by material type is Wood-Plastic Composite (WPC) decking. WPC decking has been widely adopted in the market due to its balance of natural wood aesthetics and plastic durability. It offers the look and feel of wood decking while providing enhanced durability and resistance to rot, decay, and insect damage. WPC decking has a track record of performance in various outdoor environments, making it a preferred choice for residential and commercial decking projects. It offers excellent dimensional stability and can withstand exposure to moisture, UV radiation, and temperature fluctuations.
On the other hand, the fastest-growing segment in the global composite decking market by material type is often capped composite decking. Capped composite decking offers superior performance compared to traditional uncapped composite decking and wood decking. The protective polymer cap on all sides provides enhanced resistance to moisture, fading, staining, scratching, and mold growth, making it ideal for outdoor environments. Capped composite decking has a longer lifespan and requires less maintenance compared to wood decking and uncapped composite decking. The protective cap shields the composite core from the elements, ensuring long-term durability and color retention.
Overall capped composite decking is experiencing rapid growth in the global market due to its superior performance, durability, aesthetic appeal, growing consumer preference, market innovation, and regulatory compliance. As consumers continue to prioritize outdoor living spaces and sustainable building materials, the demand for capped composite decking is expected to remain strong in the coming years.
Analysis by End-Use Application
Residential construction accounts for a significant portion of the composite decking demand. Homeowners worldwide seek durable, low-maintenance decking solutions for their outdoor living spaces, driving the demand for composite decking materials. The global trend towards urbanization and population growth has led to an increased demand for residential housing and infrastructure. As more people move into urban areas, the construction of residential properties, including single-family homes, multifamily dwellings, and condominiums, has surged, further boosting the demand for composite decking.
Also, the fastest-growing segment in the global composite decking market by end-use application is often residential construction. There is a growing trend towards outdoor living spaces, driven by factors such as urbanization, population growth, and changing lifestyles. Homeowners are investing in outdoor areas for relaxation, entertainment, and recreation, creating a significant demand for decking materials. Homeowners are increasingly seeking low-maintenance decking solutions that offer durability, longevity, and aesthetic appeal. Composite decking meets these requirements by providing a low-maintenance alternative to traditional wood decking, which requires regular sealing, staining, and upkeep. Manufacturers are continually innovating and introducing new composite decking products with advanced features, such as enhanced durability, fade resistance, and texture options. This allows homeowners to customize their outdoor spaces according to their preferences and design aesthetics.
Global Composite Decking Market By Material Type ($Bn)
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Composite Decking Market Regional Insights
North America dominates the global composite decking market, driven by driven by factors such as the popularity of outdoor living spaces, high homeownership rates, and a robust construction industry. North America has a well-established composite decking market, with a long history of adoption and widespread use of composite decking materials in residential and commercial construction projects. North American consumers value the benefits of composite decking, including durability, low maintenance, and resistance to rot, decay, and insect damage. These preferences have contributed to the widespread adoption of composite decking in residential properties across the region.
Asia Pacific region is often identified as experiencing the fastest growth in the global composite decking market. Many countries in the Asia Pacific region, such as China, India, and Southeast Asian nations, are undergoing rapid urbanization. This trend is driving demand for residential and commercial construction projects, including decking for outdoor living spaces. The expanding middle-class population in Asia Pacific countries has increased demand for housing and improved living standards. As a result, there is a growing interest in enhancing outdoor living spaces, driving the demand for composite decking materials. Also, governments in the Asia Pacific region are investing heavily in infrastructure development projects, including residential complexes, commercial buildings, and public spaces. These projects often incorporate outdoor decking for recreational areas, balconies, and terraces, boosting demand for composite decking materials.
Residential construction is a dominant segment in the European composite decking market, particularly in countries with a high demand for single-family homes, townhouses, and condominiums. Composite decking is popular for outdoor decking projects in residential properties across Europe, offering durability, low maintenance, and aesthetic appeal.
Residential construction is also a growing segment in the Middle East and Africa, driven by population growth, urbanization, and government initiatives to provide affordable housing. Composite decking is gaining traction in residential decking projects in countries like the United Arab Emirates, South Africa, and Saudi Arabia, where homeowners seek innovative and sustainable outdoor solutions.
Global Composite Decking Market By Material Type ($Bn)
- Largest
- Fastest
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Composite Decking Market Dynamics
Drivers
Low Maintenance of Composite Decking
- As homeowners seek low-maintenance outdoor living solutions, the demand for composite decking continues to rise. Composite decking offers advantages over traditional wood decking, including durability, resistance to rot and insect damage, and minimal upkeep requirements, which in turn, drive market growth. The growth of the residential construction sector, driven by factors such as urbanization, population growth, and improving living standards, fuels demand for decking materials. Composite decking is commonly used in residential projects for decks, patios, balconies, and outdoor living spaces.
Emphasis on Sustainability
- Growing awareness of environmental issues and sustainability concerns prompts consumers to choose eco-friendly building materials. Composite decking made from recycled materials aligns with these sustainability goals, driving its adoption among environmentally conscious consumers. Increasing consumer consciousness about eco-friendly products will also bolster market growth in the future.
Restraints
High Initial Costs
- Composite decking typically has a higher initial cost compared to traditional wood decking, which can deter price-sensitive consumers. However, composite decking offers long-term value through lower maintenance requirements, reduced lifecycle costs, and longer lifespan, offsetting the initial investment. Companies should focus on developing more affordable composite decking solutions to unlock the full growth scope of the market.
High Availability of Alternatives
- Composite decking faces competition from alternative decking materials such as natural wood, PVC decking, aluminum decking, and wood-plastic composite (WPC) decking. Each material has its advantages and disadvantages, and consumer preferences vary based on factors like aesthetics, durability, and price. So companies need to come up with competitive composite decking products and on par with the alternatives available in the marketplace.
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Composite Decking Market Competitive Landscape
The global composite decking market is highly competitive, with numerous players vying for market share. Competition in the market is driven by factors such as product innovation, brand reputation, distribution networks, pricing strategies, and customer service. Composite decking providers should focus their efforts on developed as well as developing countries to maximize their sales and revenue generation potential in the future. Composite decking companies can also invest in research and development to create new products that help them stay ahead of the competition.
Top Player’s Company Profiles
- Trex
- AZEK
- Fiberon
- Tianzhen Bamboo Flooring
- Taizhou Huali
- Barrette Outdoor Living
- Oldcastle
- UFP Industries
- UPM
- TAMKO
- Zhejiang Walrus
- Cali Bamboo
- Silvadec
- TECNODECK
- Fortress Building Products
- DuxxBak Composite Decking
Recent Developments
- On November 17, 2023, AZEK Company LLC the industry-leading manufacturer of beautiful, low-maintenance, and environmentally sustainable outdoor living products, announces a new suite of offerings from its TimberTech®, AZEK Exteriors®, and StruXure™ brands, including the debut of an innovative aluminum framing product, new decking and porch colors, expanded railing offerings, a new siding product, and a Cabana X® model now available with a modular design.
- In 2024, TAMKO Building Products LLC announced it is the official roofing partner of the Kansas City Chiefs. This multi-year agreement combines two winning brands to benefit fans of both great football and great roofing.
- On October 31, 2023, a new, customizable screen system to add privacy and design intrigue to decks is one of several innovations introduced by Deckorators®, a leading brand of UFP Industries, Inc. The Deckorators Privacy Screen system that will be on display allows homeowners to introduce both design elements and seclusion to outdoor living spaces by mixing and matching screens, slats, and decking. The system is easy to install and versatile, making it a standout product in the industry.
Composite Decking Key Market Trends
Adoption of Advanced Material Technologies
- Composite decking market players can focus on the adoption of novel material technologies to create new types of products with better enhanced properties. Companies can also mimic the appearance and feel of other materials such as wood while providing the robust durability features of composite materials as well. Incorporation of eco-friendly materials will also be a key trend that composite decking market players should focus on in the long run.
Composite Decking Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
Our research on the global composite decking market shows that the market is driven by factors such as increasing demand for low-maintenance outdoor living solutions, growth in residential construction, rising environmental awareness, product innovation, and regulatory compliance. However, challenges related to cost, competition, perception, supply chain, and installation must be addressed to unlock the full potential of the market with North America dominating the market. Competition in the global composite decking market is intense, driven by factors such as product innovation, brand recognition, distribution channels, pricing strategies, marketing efforts, customer service, regulatory compliance, and market expansion. Overall, the global composite decking market is characterized by trends such as sustainability, low maintenance, product innovation, customization, market expansion, technological advancements, aesthetics, and the outdoor living lifestyle. Manufacturers that stay abreast of these trends and respond to evolving consumer preferences are well-positioned to succeed in the dynamic composite decking market.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 3.31 billion |
| Market size value in 2031 | USD 12.69 billion |
| Growth Rate | 16.1% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Composite Decking Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Composite Decking Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Composite Decking Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Composite Decking Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Composite Decking Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Composite Decking Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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