Plastic Decking Market Forecast to Show Spurring Growth by 2020-2030
The Plastic Decking Market – Global Market Share, Trends, Analysis and Forecasts, 2020-2030 provides insights on key developments, business strategies, research & development activities, production and consumption, supply chain analysis, competitive landscape, and market composition analysis.
Rapid urbanization, high emphasis on use of recycled plastic and regulations to reduce wood for construction to propel growth of plastic decking market
Plastic decks are manufactured using recyclable plastic and offers a low cost, ecofriendly solution in residential and commercial construction applications. Plastic decking have evolved as a suitable and sustainable alternative to wooden and metal decking, thereby reducing the carbon footprint by consuming plastic waste and reducing deforestation. Owing to excellent shock absorbing, resistance to splintering, rotting and resistant to thermal expansion and contraction, the plastic decking market is anticipated to gain traction over the forecast period across North America and Europe. However, due to high ambient temperature in Asian countries, the performance of plastic decking gets affected, which is anticipated to be major hindrance for the growth of plastic decking market in Asia Pacific. The global plastic decking market is projected to grow at a CAGR of 9.0% during the forecast period driven by rising demand from commercial applications.
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Availability of recyclable HDPE & LDPE in significant amount to fuel growth of HDPE & LDPE based plastic decking
The plastic decking market study is segmented based on material type, composite type, construction type, end use, and geography. Based on material type the market is segmented into high-density polyethylene (HDPE), low-density polyethylene (LDPE), polyvinyl chloride (PVC), polypropylene, and others. The high-density polyethylene (HDPE) and low-density polyethylene (LDPE) are the most common types of plastic used for plastic decking and collectively contributed approximately 50% of the global plastic decking market. The growth of HDPE based plastic deck market is anticipated to dominating through the forecast period owing to high availability of HDPE recyclable plastic and high durability and flexibility offered by these products. Followed by HDPE, PVC based plastic decking market is anticipated to grow at a prominent CAGR during the forecast period.
Based on end use, the global plastic decking market is segmented into residential, commercial and industrial. The commercial segment dominated plastic decking market owing to rising demand for plastic decking from docks, marinas, patios, pool areas, hotels, and resorts as plastic decking delivers high performance with excellent thermal, water and moisture resistance required in these applications. The residential use of plastic decking is anticipated to outperform commercial use by 2030 owing to rampant growth in the United States construction industry, and rising demand from European countries over the forecast period.
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Based on geography, the market is segmented into North America, South America, Europe, Asia Pacific, and Middle East & Africa. North America is anticipated to contribute largest share to the market owing to increased demand for recycled and low maintenance construction products. Europe is anticipated to witness steady growth in line with the growth of construction industry across the region. However, growing emphasis on use of recycled plastic is anticipated to supplement growth of plastic decking market in Europe primarily in Germany and the U.K. Asia Pacific is anticipated to witness steady growth during the forecast period owing to strong growth in construction industry across the geography. Major players operating in the global plastic decking market include Advanced Environmental Recycling Technologies, Inc., Azek Building Products, Inc., Cardinal Building products, CertainTeed Corporation, DuraLife Decking and Railing Systems, Fiberon LLC, Green Bay Decking, TAMCO Building products Inc., UPM Kymmene Corporation., and Universal Forests Products, Inc.