Plastic Decking Market Revenue, Opportunity, Segment and Key Trends To 2022
Plastic decking is defined as a broad category of coarse to medium-grained particulate material used in construction. Market Research Future (MRFR) has published a research report about the global plastic decking market that predicts growth for this market at 11% CAGR (Compound Annual Growth Rate) during the forecast period that would end in 2022.
Analyzing the market structure, this report calculates the future growth potential of the market. It weighs the strategies of the key players in the market and supports the competitive developments like joint ventures, new product developments, mergers and acquisitions, research and developments (R&D) in the market.
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The key factor driving the global plastic decking market growth include large scale investments, rapid urbanization, replacement of traditional materials with other composite decking product, and rising construction activities in the emerging economies.
The global plastic decking market has been segmented on the basis of composite, end-users, material, and lastly, region. As per composite-based segmentation, this market has been segmented into capped composite decking and uncapped composite decking. Capped composite deck boards have the traditional composite wood/plastic core, featuring a durable polymer protective shell. Capped composite decking has a cover bonded to the core during manufacturing. Uncapped decking is usually the first generation versions of composite decking that are vulnerable to fading, mould, mildew, and staining. Uncapped decking is not bonded to the core.
Based on end-users, the market has been segmented into residential and non-residential. Residential areas are areas where housing societies are located. Non-Residential areas are areas where corporate offices, businesses entities are located. Plastic decking is widely used in residential and non-residential buildings. Residential buildings hold the major market share. The material-based segmentation segments the market into high-density polyethylene (HDPE), low-density polyethylene (LDPE), polypropylene (PP), polyvinyl chloride (PVC), and others.
The regional segmentation of the global plastic decking market can segment the market into the regional markets known as North America, Europe, Asia Pacific, and rest of the world (RoW). In the Asia Pacific region, the fastest growth is being witnessed in China and India due to population growth, rising disposable income and demand for more residential buildings. Demand for non-residential buildings is also growing in those cities that are commercial hubs. Another important economy in this region is Japan that can be a potential market.
North America is the largest regional market due to increasing demand for low maintenance building products and the presence of many key market players. The strongest economies in North America are the USA and Canada that can be lucrative markets.
In Europe, the market is growing due to the high density of population, and the presence of many key market players, and various business activities. Russia is an important country-specific market in this region. Other strong economies that can be ideal markets are France, Germany, and the UK.
The RoW segment covers the countries of the Middle East & Africa (MEA). In the MEA region, despite the high demand, the market is small due to poor countries, lack of awareness, lack of education, lack of skilled labor, and lack of technological advancement.
The key players in the global plastic decking market include Advanced Environmental Recycling Technologies Inc. (USA), Azek Building Products Inc. (USA), Cardinal Building Products (USA), CertainTeed Corporation (USA), DuraLife Decking & Railing Systems (USA), Fiberon LLC (USA), Green Bay Decking LLC (USA), TAMKO Building Products Inc. (USA), Universal Forest Products Inc. (USA), and UPM Kymmene Corporation (Finland).
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