Composite Decking Market Global Business Trends, Share, Future Demand, Progress Insight, Modest Analysis, Statistics, And Forecast to 2029
The global composite decking market size is set to grow due to the rising demand in the construction industry for low maintenance buildings, interior & exterior renovation, as well infrastructure developments. Fortune Business Insights presents this information in its report titled “Composite Decking Market, 2022-2029.”
Composite decking is also known as wood-plastic. It is made up of bamboo, polyethylene, wood, polyvinyl chloride, and polypropylene. Composite decking is cost-effective, recyclable, durable and makes the best substitute for timber. The product is ideal for commercial and residential buildings. Besides, it makes the surface less prone to staining, mold, scratching, and fading.
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Halt of Construction Projects to Affect Market Dynamics
The COVID-19 pandemic has impacted every sector, including the composite decking industry, which is facing a number of challenges to deal with. Due to strict COVID-19 lockdowns, slowdown of industrial activity and workforce shortage, construction sector has experienced several disruptions. Delay in various construction projects to control the spread of the outbreak and disruptions in the supply chain impacted the market dynamics.
Based on material type, the market is classified into bamboo fibers, wood fibers, recycled and plastic, and others.
On the basis of type, the market is split into capped composites and uncapped composites.
In terms of application type, the market is broken down into residential and commercial.
Region-wise, the market is segregated into Europe, Asia Pacific, North America, Latin America, and Middle East & Africa
The report offers:
- Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
- Comprehensive insights into the regional developments and regulatory scenarios.
- List of major industry players.
- Key strategies adopted by the market players.
- Latest industry developments such as latest technological advancement, partnerships, mergers, and acquisitions.
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Drivers & Restraints:
Replacement of Old-Fashioned Decking Promotes Composite Decking Adoption
Composite decking market growth will gain traction from the rising demand for low maintenance building projects, durable infrastructure, and interior and exterior renovation. Also, replacement of old-fashioned decking materials boosts the adoption of capped and uncapped composite decking products.
On the contrary, the raw material cost fluctuation may impact the overall composite decking prices. Besides, prohibited adoption in various applications may hamper the market growth during the forecast period.
Rising Demand in Residential Buildings to Boost Growth in North America
Composite decking market share is categorized into Europe, North America, Asia Pacific, Latin America, and the Middle East & Africa. North America is expected to witness sustainable growth due to the rising demand for residential buildings in regions such as the U.S. and Canada.
Asia Pacific is showing significant growth due to rising growth in the construction industry. Increasing demand for commercial buildings will boost the market share in Europe.
Middle East & Africa is expected to show steady growth for their rising demand for plastic material in the production of composite decking.
Notable Industry Development:
January 2022 – Fiberon announced plans to set up a new facility in Tennessee to ramp up production of composite decking, cladding plans, and railing.
The Report Lists the Key Players Profiled in the Market Report:
- Trex Company, Inc. (U.S.)
- Square Foot (U.S.)
- Green Bay Decking (U.S.)
- TAMKO Building Products, Inc. (U.S.)
- Fiberon (U.S.)
- ARCAT, Inc. (U.S.)
- PROFESSIONAL BUILDER (Qatar)
- UFP Industries, Inc. (U.S.)
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