Composite Decking Market to grow by USD 2.82 billion between 2024-2028
According to a research report “ Composite Decking Market” by Application (Residential, Non-residential) Type (Polyethylene, Polypropylene, Polyvinyl chloride, Others) Geography (North America, Europe, APAC, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 2.82 billion at a CAGR of 14.04% during the forecast period. In the global composite decking market, the residential sector holds a significant market share, making the volume of residential construction a crucial factor in market growth. The last five years have seen increased demand for new residences in Asia Pacific (APAC), driven by urbanization and rising per capita income in countries like India, China, and Indonesia. However, the building materials industry, including composite decking, has been adversely affected by the COVID-19 pandemic, particularly due to China's role as a major supplier to markets such as the US, Canada, and Mexico..
Browse market data tables, figures, and in-depth TOC on “Composite Decking Market” by Application (Residential, Non-residential) Type (Polyethylene, Polypropylene, Polyvinyl chloride, Others) Geography (North America, Europe, APAC, South America, Middle East and Africa) Global Forecast to 2028.
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By Application, the Residential segment is projected to dominate the market size in 2024.
In the composite decking market, high-density polyethylene (HDPE) plastic, derived from recycled sources, is the preferred material due to its cost-effectiveness, ease of production, and vast availability. HDPE, commonly sourced from old shopping bags, offers near-zero moisture absorption (<0.02% after 24 hours) and exceptional chemical resistance, making it an ideal choice for manufacturing composite decking. This material's durability and resistance to potent acids like sulfuric, hydrochloric, and nitric, ensure the production of long-lasting, high-performance decking solutions.
By Type, Polyethylene segment is expected to hold the largest market size for the year 2024.
The residential construction sector in the US, Europe, and APAC is experiencing significant growth, driven by increasing disposable incomes and urbanization. In APAC, countries like China, India, Malaysia, and Indonesia are witnessing a surge in demand for new residences and infrastructure. Governments in the region have responded with initiatives to support this growth. Additionally, the recovery of the global housing market in the US, Canada, Germany, and Spain is fueling demand for composite decking. The US residential building industry has particularly benefited from record-low mortgage rates and rising housing demand, leading to expansionary monetary policy.
North America is forecasted to hold the largest market size by region in 2024.
The composite decking market in North America has experienced significant growth between 2010 and 2021. With the construction of approximately 18,000 more single-family homes featuring decks during this period, the demand for affordable and durable composite decking alternatives has surged. Homeowners are investing in renovations and improvements to enhance their living spaces and increase property value. This trend is anticipated to continue, driving the composite decking market's growth throughout the forecast period.
The Composite Decking Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The composite decking market has experienced a significant rise in demand due to various factors, including harvesting and regulatory issues that have led to a less requirement of natural wood. In the building and construction industry, companies such as MoistureShield, Fiberon, Green Bay Decking, and Cardinal Building Products offer a range of composite decking form and product offerings to meet the needs of contractors and homeowners. Raw material costs and color fading are crucial considerations in the composite decking market. Resistance to slip, low thermal expansion, and protective shells are essential features of composite decking railings. Composite decking comes in various varieties, including capped composite decking, which offers enhanced scratching, staining, and fading resistance. The shift in trend towards composite decking is driven by its load-bearing capacity and resistance to environmental factors. Resin types used in composite decking production play a significant role in determining the final product's properties. Overall, the composite decking market is expected to continue growing as more homeowners and contractors seek durable, low-maintenance decking solutions.
Market Research Overview
The Composite Decking market experiences a significant rise in demand due to the shift in trend towards low-maintenance, weather-resistant outdoor living spaces. Key players in this market include Transcend Lineage, MoistureShield, Fiberon, Green Bay Decking, and Cardinal Building Products. Segmentation of this market is based on form, resin type, and product offerings. Executives from industry associations reveal that the building and construction industry's less requirement for natural wood and the rise in demand for composite decking are major factors driving market growth. Raw material costs, color fading, resistance to slip, low thermal expansion, and scratching and staining are crucial considerations for both contractors and homeowners. Composite decking railings, capped composite decking, and varieties with protective shells are popular offerings in this market. Sustainability, design, clientele preferences, and load-bearing capacity are essential restraining factors. Data triangulation from interviews with industry experts and market analysis provide valuable insights into the bottom line of the composite decking market.
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