Enjoy complimentary customisation on priority with our Enterprise License!
The composite decking market size is forecast to increase by USD 2.82 billion at a CAGR of 14.04% between 2023 and 2028. The market is experiencing significant growth due to the revival of the construction industry and the increasing adoption of prefabricated construction solutions. The revival of the construction industry, particularly in emerging economies, is driving the demand for composite decking as it offers durability, low maintenance, and aesthetic appeal. Additionally, the rising adoption of prefabricated construction solutions is fueling market growth as composite decking is a popular choice for such projects due to its ease of installation and cost-effectiveness. However, the availability of substitutes for composite decking, such as wood and concrete, poses a challenge to market growth. Despite this, the market is expected to continue its growth trajectory due to its numerous benefits over traditional materials.
Composite decking has gained significant popularity among homeowners and contractors due to its durability and low maintenance properties. This market offers various varieties, including capped composite decking with a protective shell, enhancing the deck's resistance to fading, staining, scratching, and increased load-bearing capacity. Resin types used in composite decking, such as polyethylene and polypropylene, influence the product's performance and cost. A shift in trend towards eco-friendly options has led to an increase in demand for composite decking, as it requires less harvesting and regulatory compliance compared to natural wood. Segmentation of the market includes form and product offerings from key players like Cardinal Building Products, Green Bay Decking, Fiberon, and Moistureshield.
Composite decking railing, with its low thermal expansion and resistance to slip, adds to the product's appeal. Colour fading remains a concern, necessitating regular maintenance. Raw material costs and product innovation continue to influence the market dynamics in the building and construction industry.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The residential segment is estimated to witness significant growth during the forecast period. Composite decking has gained significant traction among homeowners and contractors due to its varieties and advanced features. Capped composite decking, with its protective shell, offers resistance to fading, staining, scratching, and high load-bearing capacity, making it an ideal choice for outdoor living spaces. As more homeowners prioritize weather-resistant and low-maintenance options for their properties, composite decking has seen a shift in trend from natural wood. Executives from industry associations confirm this trend, citing data triangulation from Cardinal Building Products, Green Bay Decking, Fiberon, and MoistureShield. The market segmentation includes resin types and forms, with polyethylene and polypropylene being the most common resin types.
The form segmentation includes hollow and solid. Homeowners appreciate composite decking's sustainability and design flexibility, with color options ranging from natural wood grains to vibrant colors. However, restraining factors such as raw material costs and product offerings can impact market growth. Composite decking railing, low thermal expansion, resistance to slip, and color fading are other essential features that contribute to its popularity. The increasing demand for composite decking is driven by the recovery of the global housing market, particularly in the US, Europe, and APAC. With rising disposable incomes and urbanization, there is a growing need for new residences and public infrastructure, fueling the demand for composite decking.
Additionally, governments in APAC countries have implemented initiatives to boost residential construction activities, further boosting the market growth.
Get a glance at the market share of various segments Request Free Sample
The residential segment accounted for USD 1.15 billion in 2018 and showed a gradual increase during the forecast period.
North America is estimated to contribute 32% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
For more insights on the market share of various regions Request Free Sample
The building and construction sector in North America has witnessed a significant rise in the demand for composite decking due to the increasing trend of adding personal outdoor spaces to residences. Between 2010 and 2021, the construction of single-family homes in the US saw an increase, with approximately 50,000 houses built in 2021, compared to 32,000 in 2010. This increase in new home construction, coupled with the growing preference for affordable alternatives to traditional wood decking, has led to a transcendental increase in the demand for composite decking. Furthermore, customers are investing heavily in home renovation and improvement projects to enhance their living spaces and boost their property values.
Harvesting and regulatory challenges associated with natural wood decking, such as sustainability concerns and stringent regulations, have also contributed to the rise in demand for composite decking in the luxury line of home improvement products.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Revival of construction industry is the key driver of the market. Composite decking has gained significant popularity among homeowners and contractors due to its varieties and advanced features. Capped composite decking, with its protective shell, offers resistance to fading, staining, scratching, and high load-bearing capacity, making it an ideal choice for outdoor living spaces. The shift in trend towards weather-resistant, low-maintenance materials has expanded the clientele base for composite decking. Sustainability is another crucial factor driving the market, with composite decking offering eco-friendly alternatives to natural wood. However, raw material costs and product offerings from key players like Cardinal Building Products, Green Bay Decking, Fiberon, and MoistureShield impact the bottom line.
Executives from industry associations reveal that resistance to slip, color options, and low thermal expansion are significant considerations for consumers. Data triangulation from interviews with industry experts reveals that the Asia Pacific region, with its rapid urbanization and rising per capita income, presents a vast opportunity for growth. Despite these positives, restraining factors like the impact of COVID-19 on supply chains and the availability of natural wood alternatives remain. Resin types and form segmentation further add to the complexity of the market landscape.
Rising adoption of prefabricated construction solutions is the upcoming trend in the market. Composite decking has emerged as a popular choice for homeowners and contractors seeking low-maintenance, weather-resistant outdoor living spaces. The market for composite decking offers a variety of options, including capped composite decking with a protective shell to prevent fading, staining, scratching, and enhance load-bearing capacity. These decking solutions are ideal for high foot traffic areas and offer resistance to slip, making them a safe choice. Industry executives attribute the shift in trend towards composite decking to its sustainability and design flexibility. Composite decking is made from a combination of raw materials, including recycled plastic and wood fibers. The resin type and form used in manufacturing significantly impact the final product offerings, with bottom-mounted and hidden fastener systems being common choices.
Data triangulation from interviews with industry experts, associations, and market research reveals that color options, load-bearing capacity, and resistance to weathering are key factors driving the growth of the market. However, raw material costs and product offerings remain restraining factors As the demand for composite decking continues to rise, manufacturers are focusing on innovation to meet the evolving needs of their clientele. For instance, some companies are developing composite decking railing systems with low thermal expansion and improved color stability to ensure long-lasting performance.
Additionally, some manufacturers are exploring new resin types and segmentation strategies to expand their product offerings and cater to diverse customer preferences.
Availability of substitutes for composite decking is a key challenge affecting market growth. Composite decking continues to be a popular choice among homeowners and contractors due to its wide range of varieties and benefits. Capped composite decking, in particular, offers a protective shell that enhances resistance to fading, staining, scratching, and other damages caused by foot traffic and outdoor living. Weather-resistant and low-maintenance, composite decking caters to a diverse clientele seeking design options that prioritize sustainability. However, restraining factors such as raw material costs and color options have led some to explore alternatives. Concrete flooring, though able to withstand heavy load-bearing capacity, lacks the smooth surface of timber or composite decking. Tiles and fiber cement decking, on the other hand, offer unique design possibilities and resistance to heat and moisture, making them suitable for various climates.
Executives from industry associations, such as Green Bay Decking, Fiberon, and MoistureShield, have shared insights on the shift in trend towards composite decking with resin types like polyethylene and polypropylene, which offer superior resistance to weathering and color fading. Data triangulation reveals that the market segmentation by resin type, form, and load-bearing capacity is expected to grow significantly in the coming years. Despite the popularity of composite decking, alternatives like concrete flooring, tiles, and fiber cement decking have their place in the market due to their wide availability and affordability. Interviews with executives suggest that product offerings in these segments will continue to evolve, with a focus on low thermal expansion, resistance to slip, and color retention.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
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 provides a range of composite decking solutions, catering to various sectors including residential, commercial, and marina applications.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Composite decking has gained significant popularity among homeowners and contractors due to its weather-resistant, low-maintenance, and sustainable properties. This market caters to various clientele, offering a range of varieties, including capped composite decking with a protective shell. The shift in trend from natural wood to composite decking is driven by factors such as resistance to fading, staining, scratching, and high load-bearing capacity, making it ideal for outdoor living spaces. The composite decking industry offers diverse product offerings, including those with low thermal expansion, resistance to slip, and color options. The segmentation of the market includes resin types and forms.
Interviews with industry executives reveal that the use of advanced resins and innovative designs are key differentiators. Restraining factors for the market include raw material costs and concerns over sustainability. However, the industry is addressing these challenges through continuous research and development. For instance, Cardinal Building Products and Green Bay Decking offer eco-friendly composite decking solutions, while Fiberon and Moistureshield focus on enhancing product offerings with improved resistance to color fading. Industry associations and data triangulation are essential tools for market analysis, providing valuable insights into market trends and growth patterns. Overall, the market is poised for continued growth, driven by the increasing demand for durable, weather-resistant, and low-maintenance outdoor living solutions.
Market Scope |
|
Report Coverage |
Details |
Page number |
168 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 14.04% |
Market growth 2024-2028 |
USD 2.82 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
13.5 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 32% |
Key countries |
US, Canada, China, UK, and Germany |
Competitive landscape |
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. |
Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Get the report (PDF) sent to your email within minutes.
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.