USD 4.30 Billion
Report ID:
SQMIG15G2083 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
61
|Figures:
75
Global Plastic Decking Market size was valued at USD 4.30 Billion in 2021 and is poised to grow from USD 4.77 Billion in 2022 to USD 11 Billion by 2030, at a CAGR of 11.00% during the forecast period (2023-2030).
The global plastic decking market has witnessed significant growth in recent years, driven by several key drivers. One of the major drivers is its durability and low maintenance requirements compared to traditional wood decking. Plastic decking materials are resistant to rot, insects, and weathering, making them highly durable and long-lasting. They do not require regular staining, sealing, or painting, which reduces maintenance efforts and costs for homeowners. The low-maintenance nature of plastic decking appeals to consumers seeking convenient outdoor flooring options. Another driver is the increasing focus on environmental sustainability. Plastic decking is often made from recycled materials, such as post-consumer plastics and wood fibres, making it an eco-friendly alternative to traditional wood decking. This appeals to environmentally conscious consumers who prioritise sustainable building materials and reducing deforestation. Additionally, plastic decking is recyclable at the end of its life, contributing to a circular economy and minimising waste. The growing construction industry and the trend towards outdoor living spaces are also driving the demand for plastic decking. As urbanisation continues, the need for durable and low-maintenance outdoor flooring solutions increases. Plastic decking provides a versatile and attractive option for homeowners and commercial property owners looking to enhance their outdoor spaces. The aesthetic appeal of plastic decking, with its variety of colours and textures, further drives its popularity in the market. However, the plastic decking market also faces several challenges. One of the main challenges is the perception of lower authenticity compared to natural wood decking. Some consumers prefer the natural look and feel of wood and may hesitate to choose plastic decking for aesthetic reasons. Additionally, plastic decking materials may be susceptible to fading or discoloration over time due to prolonged exposure to sunlight. Furthermore, the cost of plastic decking can be higher than traditional wood decking, which may limit its adoption in price-sensitive markets. However, the long-term durability and low maintenance requirements of plastic decking can offset these higher upfront costs.
Global Market Size
USD 4.30 Billion
Largest Segment
Residential
Fastest Growth
Residential
Growth Rate
11.00% CAGR
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The global plastic decking market is segmented on the basis of composite, end user, and region. By composite, the market is segmented into capped composite decking, and uncapped composite decking. By end user, the market is segmented into residential and non-residential. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis By Composite
The global plastic decking market can be segmented by composite into two categories: capped composite decking and uncapped composite decking. Capped composite decking is the dominant segment in the market in terms of both usage and market share.
Capped composite decking is a type of composite decking that is covered with a protective layer, usually made of a thin plastic coating. This protective layer adds an extra layer of durability, resistance to stains, fading, and moisture, making capped composite decking highly appealing to consumers. The protective layer also provides a more realistic wood-like appearance, enhancing the aesthetic appeal of the decking. Due to these advantages, capped composite decking has gained significant popularity in the market and has become the preferred choice for many homeowners and builders.
On the other hand, uncapped composite decking is the fastest-growing segment in the plastic decking market. Uncapped composite decking does not have a protective layer, making it more affordable compared to capped composite decking. Uncapped composite decking is a blend of wood fibres and recycled plastic materials, offering good durability and resistance to moisture. This segment is experiencing rapid growth due to its cost-effectiveness and increasing demand from price-sensitive markets. It is particularly popular in regions where the focus is on providing an environmentally friendly and low-maintenance outdoor flooring option at a more affordable price point.
Analysis By End user
The global plastic decking market can be segmented by end-user into two categories: residential and non-residential. Among these segments, the residential sector dominates the market in terms of usage and market share. The residential segment includes individual homeowners, housing complexes, and residential buildings that utilise plastic decking for outdoor spaces such as decks, patios, and balconies. The demand for plastic decking in the residential sector is driven by factors such as the increasing trend of outdoor living spaces, the desire for low-maintenance and durable outdoor flooring options, and the aesthetic appeal of plastic decking materials. Homeowners and residential property developers often opt for plastic decking due to its longevity, resistance to rot and insects, and ease of maintenance. The residential segment holds a significant share in the global plastic decking market due to the widespread adoption of plastic decking materials in residential construction and renovation projects.
On the other hand, the non-residential segment represents the fastest-growing segment in the plastic decking market. The non-residential sector includes commercial buildings, hospitality establishments, educational institutions, and public spaces that incorporate plastic decking for their outdoor areas. This segment is experiencing rapid growth due to the increasing demand for durable, low-maintenance, and visually appealing outdoor flooring options in commercial settings. Hotels, restaurants, shopping centres, and public parks are increasingly opting for plastic decking materials to create attractive and functional outdoor spaces. The non-residential segment's growth is also propelled by the rising focus on sustainability and environmental friendliness in commercial construction, as plastic decking can be made from recycled materials.
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North America dominates the global plastic decking market due to several factors. The region has a well-developed construction industry and a strong emphasis on outdoor living spaces. The demand for durable and low-maintenance outdoor flooring options has driven the adoption of plastic decking in residential and commercial construction projects. Additionally, the presence of established market players, extensive distribution networks, and consumer awareness about the benefits of plastic decking contribute to North America's market dominance.
On the other hand, Asia Pacific is the fastest-growing market for plastic decking. The region is witnessing rapid urbanisation, infrastructure development, and the growing popularity of outdoor recreational spaces. Countries such as China, India, and Australia are experiencing increased construction activities, leading to a rising demand for plastic decking materials. The growing middle-class population, changing lifestyles, and increasing disposable incomes are driving the adoption of plastic decking in the region. Moreover, the shift towards sustainable and low-maintenance building materials further fuels the market growth in the Asia Pacific region.
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Drivers
Durability and Low Maintenance
Rising Demand for Outdoor Living Spaces
Restraints
Initial Cost
Heat Retention
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The global plastic decking market features a competitive landscape with numerous players striving to gain a strong foothold and establish their market presence. The market is characterised by the presence of both multinational companies and regional players, each contributing to the overall competition in the industry. These companies compete based on factors such as product portfolio, quality, durability, aesthetics, innovation, and customer service. Intense competition in the global plastic decking market drives companies to invest in research and development activities to develop new and improved products. Continuous innovation in terms of material composition, manufacturing processes, and product design enables companies to offer a diverse range of plastic decking options that cater to various customer preferences and market segments. Additionally, companies focus on strategic partnerships, acquisitions, and collaborations to expand their market reach and gain a competitive edge. Collaborations with architects, contractors, and designers allow companies to showcase their products and build strong relationships with key stakeholders in the construction industry.
Distribution networks play a crucial role in the competitive landscape, and companies strive to establish efficient distribution channels to ensure widespread availability and timely delivery of their products to customers. Marketing and branding efforts are also essential for companies to differentiate themselves in the market. Effective marketing strategies, including advertising campaigns, online presence, and participation in industry events, help companies to create brand awareness and showcase the unique features and benefits of their plastic decking products. Furthermore, the competitive landscape of the global plastic decking market is influenced by factors such as pricing strategies, customer loyalty, and customer service. Companies that can offer competitive pricing without compromising on quality and provide excellent customer service tend to gain a competitive advantage and secure a loyal customer base.
Top Player’s Company Profile
Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global plastic decking market analysis, North America holds the dominant position in the global plastic decking market due to its well-established construction industry, emphasis on outdoor living spaces, and consumer awareness. Asia Pacific is the fastest-growing market, driven by rapid urbanisation, infrastructure development, and increasing demand for sustainable and low-maintenance building materials. The global plastic decking market has witnessed significant growth and transformation in recent years. The market is driven by several factors, including the increasing demand for sustainable and eco-friendly building materials, the preference for low maintenance solutions, and the rising emphasis on customization and design versatility. Plastic decking offers numerous advantages, such as durability, resistance to rot and insects, and a wide range of colours and finishes, making it an attractive choice for outdoor flooring. Technological advancements in material composition have led to the development of high-performance plastic decking options, including capped composite decking with enhanced durability and aesthetic appeal. The market is also expanding in emerging regions, driven by urbanisation, infrastructure development, and changing consumer lifestyles. However, challenges such as aesthetic preferences, initial cost considerations, heat retention, and limited colour selection need to be addressed for broader market acceptance. With ongoing innovation, increased sustainability efforts, and strategic market expansion, the global plastic decking market is poised for further growth and holds promising opportunities for manufacturers and suppliers.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 4.30 Billion |
Market size value in 2031 | USD 11 Billion |
Growth Rate | 11.00% |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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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 |
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Plastic 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 Plastic 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.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Plastic Decking Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Plastic 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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Report ID: SQMIG15G2083