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The composite decking market size is projected to reach USD 5.86 billion by 2028, and will grow at a CAGR of 14.04% from 2023 and 2028. The growth of the market depends on several factors, such as the revival of the construction industry, the increasing interest in sustainable decking materials, and the changing lifestyles and increasing use of outdoor living spaces.
|Market Size (2018) Historic Year
|USD 1.91 billion
|Market Size (2028) - Forecasted Year
|USD 5.86 billion
|Historic Opportunity (2018-2022)
|USD 0.77 billion
|Forecasted Opportunity (2024-2028)
|USD 2.82 billion
|Market Opportunity Transformation Growth
|Market Opportunity Capitalization
|USD 3.59 billion
The report offers extensive research analysis on the Composite Decking Market, with a categorization based on Application, including residential and non-residential. It further segments the market by Type, encompassing polyethylene, polypropylene, polyvinyl chloride, and others. Additionally, the report provides Geographical segmentation, covering APAC, Europe, North America, the Middle East and Africa, and South America. Market size, historical data (2018-2022), and future projections are presented in terms of value (in USD billion) for all the mentioned segments.
Composite Decking Market Forecast 2024-2028
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Our researchers studied the data for years, with 2023 as the base year and 2024 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a disruption in the growth of the market during the COVID-19 pandemic, a holistic analysis of drivers, trends, and challenges will help companies refine marketing strategies to gain a competitive advantage.
The residential segment holds a significant share of the total market value of the global composite decking market. Therefore, the volume of residential construction has a direct impact on the growth of the market. In addition, rapid urbanization and rising per capita income (PCI) in countries such as India, China, and Indonesia increased the demand for new residences in APAC in the last five years.
Even though the US is the largest contributor of revenue to the global composite decking market, several countries in APAC and the Middle East are expected to offer opportunities for growth in the market. In addition, India, China, Malaysia, Saudi Arabia, and the UAE are the fastest-growing countries in the global composite decking market due to the growing population and rapid urbanization, which increase the demand for new residences. Hence, such factors are positively impacting the market. Therefore, it is expected to drive the market growth during the forecast period.
There has been a growing popularity of prefabricated structures across the world due to their low cost and time savings in installation. In addition, various components or sections of buildings are fabricated under a controlled environment in a manufacturing facility and transported to the construction site for final assembly in prefabricated construction.
Moreover, the key areas of focus for prefabricated construction are quality and design standards, which mitigate the challenges associated with constructing site-built homes. In addition, many newly designed prefabricated buildings are considered better than conventional residences in several aspects. Furthermore, most decking used in prefabricated construction allows the partial customization of design and specifications before delivery. Therefore, the increasing adoption of prefabricated construction solutions is positively impacting the market. Hence, it is expected to drive the market growth during the forecast period.
Concrete flooring is an alternative to composite decking as it has the ability to withstand heavy stress and pressure. In addition, it is cost-effective and can last longer if maintained properly. In addition, other alternatives, such as tiles and fiber cement decking, can be used interchangeably to decorate the exterior of residences.
Moreover, tiles can be customized for aesthetic appearance, and cement decking offers good resistance to heat and moisture, which makes it suitable for use in hot and humid climates. In addition, even though the demand for such alternatives is lower compared with composite decking, their wide availability and low cost are increasing their demand. Hence, such factors are negatively impacting the market. Therefore, it is expected to hinder the market growth during the forecast period.
The residential segment is estimated to witness significant growth during the forecast period. The rise in residential construction activities in the US, Europe, and APAC is expected to fuel the growth of the residential segment. In addition, the increasing disposable incomes of people and rapid urbanization in countries in APAC, such as China, India, Malaysia, and Indonesia, are necessitating the construction of new residences and public infrastructure.
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The residential segment was the largest segment and was valued at USD 1.15 billion in 2018. Therefore, the governments of several countries in the region have implemented such initiatives. Moreover, the recovery of the global housing market in countries such as the US, Canada, Germany, and Spain is expected to fuel the demand for composite decking. In addition, due to record-low mortgage rates and rising housing demand over the past two years, the US residential building industry has profited from expansionary monetary policy. In addition, the growing investment by countries such as the US and Germany for remodeling and renovation of residential buildings is fuelling the growth of this segment which in turn drives the market growth during the forecast period.
Based on the type, the segment is classified into polyethylene, polypropylene, polyvinyl chloride, and others. A variety of recycled plastics are used in the production of composite decking, and the polyethylene segment is the most commonly used due to its relatively low cost, ease of production, and large volumes of waste high-density PE (HDPE) plastic, such as old plastic shopping bags. In addition, PE exhibits near-zero moisture absorption (usually less than 0.02% after 24 hours of submersion) and extremely good chemical resistance, including resistance to potent acids like sulfuric, hydrochloric, and nitric, which makes it a perfect building material used in the production of composite decking. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
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North America is estimated to contribute 32% to the growth by 2028. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. The rise in residential construction activities in the US, Europe, and APAC is expected to fuel the growth of the residential segment. In addition, the increasing disposable incomes of people and rapid urbanization in countries in APAC, such as China, India, Malaysia, and Indonesia, are necessitating the construction of new residences and public infrastructure. Therefore, the governments of several countries in the region have implemented such initiatives. In addition, the recovery of the global housing market in countries such as the US, Canada, Germany, and Spain is expected to fuel the demand for composite decking. Hence, such factors are driving the market growth in North America during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
APR Composites: The company offers composite decking products such as residential, commercial, and marina decking.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
Buyrite Enterprises Ltd., Compagnie de Saint Gobain, DuraLife Decking and Railing Systems, Fortress Iron LP, Fortune Brands Innovations Inc., Genova Products Inc., Green Bay Decking, Nanjing Xuhua Sundi New Building Materials Co. Ltd., NewTechWood America Inc., Oakio Plastic Wood Building Materials Co. Ltd., Shanghai Seven Trust Industry Co. Ltd., Shubh Composites, TAMKO Building Products LLC, The AZEK Co. Inc., Trex Co. Inc., TruNorth International Corp., UFP Industries Inc., UPM Kymmene Corp., and Wallong Technology Co. Ltd.
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The composite decking market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Composite Decking Market Scope
Growth momentum & CAGR
Accelerate at a CAGR of 14.04%
Market Growth 2024-2028
USD 2.82 billion
YoY growth 2023-2024(%)
North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution
North America at 32%
US, Canada, China, UK, and Germany
|Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled
APR Composites, Buyrite Enterprises Ltd., Compagnie de Saint Gobain, DuraLife Decking and Railing Systems, Fortress Iron LP, Fortune Brands Innovations Inc., Genova Products Inc., Green Bay Decking, Nanjing Xuhua Sundi New Building Materials Co. Ltd., NewTechWood America Inc., Oakio Plastic Wood Building Materials Co. Ltd., Shanghai Seven Trust Industry Co. Ltd., Shubh Composites, TAMKO Building Products LLC, The AZEK Co. Inc., Trex Co. Inc., TruNorth International Corp., UFP Industries Inc., UPM Kymmene Corp., and Wallong Technology Co. Ltd.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.