Plastic Decking Market Is Projected To Grow At A 11% Rate Through The Forecast Period
Mar 17, 2023
Plastic Decking Market size was valued at USD 4 Billion in 2022 is projected to grow from USD 7 Billion in 2023 to USD 11 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 11.00% during the forecast period (2023 – 2030)
Plastic decking is an elevated, flat surface made from recyclable plastic that is built for use with decorative furnaces. These materials have a greater utility in construction because of their resistance to moisture and humidity. Recycled plastics can be used alone in the formulation of plastic decking, without the need for any fillers. Meanwhile, its popularity has soared in the building industry, where it is used to make long-lasting deck boards, window linings, door fittings, fencing, and slides.
To put it simply, plastic decking can’t compare to the alternatives. This market, however, requires only a modest financial outlay yet yields substantial revenue. During the projected period, the major players in the market are diversifying their offerings and raising consumer awareness. During the foreseen time period, plastic decking industry research also shows that rivalry would be at its most. Market expansion will be a result of all these efforts.
The key players of the plastic decking market are
UPM Kymmene Corporation, Universal Forest Products, Inc., Advanced Environmental Recycling Technologies, Inc., Azek Building Products Inc, Fiberon LLC, Cardinal Building Products, TAMKO Building Products, Inc., CertainTeed Corporation, Green Bay Decking, LLC and DuraLife Decking & Railing Systems
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The plastic decking industry is buoyed by the availability of a wide selection of products. PVC, PP, LDPE, and HDPE are all plastics that can be used to make decking. In terms of resilience and longevity, this plastic decking is second to none. One of the most important things propelling the plastic decking market is the wide range of products available. In addition, both capped and uncapped plastic composites have found extensive usage in the building trade. The UV coating is the capped plastic decking.
It’s also utilized in a wide variety of things, including things that won’t decay or fade, like rot-proof wooden hats. There are many practical uses for plastic decking’s many kinds and features. These critical factors propel the anticipated year’s growth in demand for plastic decking. The luxury benefits of plastic decking don’t end there. It is treated to prevent stains. Plastic decking can be used right out of the box without the need for finishing or sealing. These numerous advantages will keep the plastic decking market expanding during the forecast time frame.
The plastic decking materials are inexpensive and simple to clean. It’s a major perk of the product that can help it gain a lot of traction in the market. The rate of industrialization is expected to skyrocket in the next years. It will be crucial to increase production and manufacturing of industrial goods to meet the anticipated massive demand. The plastic decking will be used in every step of these procedures. Furthermore, plastic decking can be used for any commercial endeavor due to its versatile characteristics.
Depending on the temperature and humidity, plastic decks can be either stable or unstable. External influences have a significant impact on the product. High temperatures increase the likelihood of plastic decking melting. A loss of stability and form is possible with this product. The market is being held back by this product’s drawback. Plastic decking is widely used in industries because of its long lifespan and ability to reliably sustain heavy machinery.
Plastic decking may seem like a good investment, but its flammability and instability pose risks to any financial commitments. For this reason, not all sectors have fully embraced plastic decking. Demand in the market may fall as a result of all these variables. The inability to reliably foresee future events has led many businesses to write off plastic decking as a wasted raw resource.
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By plastic resin type
In particular, the PVC market is predicted to expand at a high rate of return during the study period.
Over the assessment period, the capped composite market is expected to increase at a considerable race.
By construction type
The market for new home decking is expected to grow at a sizable CAGR throughout the study period.
Residential is slated to expand at a considerable growth rate over the review period.
Plastic decking distributors is expected to rise at a significant growth rate over the review period.
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The plastic decking market in North America is expected to expand at a faster rate than in any other region. There are several building needs in Europe, another sizable market. Plastic decking is widely used in the hospitality and construction industries. The fact that plastic decking requires almost no upkeep further contributes to its popularity in this part of the world. North America is also widely acclaimed for its robust manufacturing and building sectors. Strong consumer demand exists in the market. In addition, plastic decking is a low-cost option that can be taken advantage of in the area. For this reason, the plastic decking industry has seen tremendous growth in this area.
Increased demand is a direct result of the region’s rapid expansion of essential infrastructure. Because of its low price, plastic decking is in high demand from consumers. The Middle East is another huge market for plastic decking. Construction and industrialization have contributed to the expansion of the plastic decking market in this area. These areas are expected to make major contributions to the worldwide market over the next years.
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