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The Polyvinyl Chloride (PVC) Decking Market size is estimated to grow by USD 645.87 million at a CAGR of 8.02% between 2023 and 2028. Market growth is driven by the resurgence of the construction industry, growing demand for customized decking solutions, and shifting lifestyles favoring outdoor living spaces. The revival in construction boosts infrastructure development and housing projects, stimulating demand for construction materials like decking. Additionally, there is a rising trend towards personalized outdoor spaces, prompting the need for tailored decking solutions to enhance aesthetic appeal and functionality. Changing lifestyles, and emphasizing outdoor leisure and entertainment, further drive the adoption of decking products. These factors collectively underscore opportunities in the market, urging stakeholders to innovate and meet evolving consumer preferences for enhanced outdoor living experiences. The market forecast report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD million for each of the mentioned segments.
The market share growth by the residential segment will be significant during the forecast period. The increase in residential construction activities in North America, Europe, and APAC is expected to drive the growth of the residential segment. 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 in APAC.
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The residential segment was the largest and was valued at USD 677.13 million in 2018. Further, the growing investment by countries such as the US and Germany for remodeling and renovation of residential buildings is anticipated to boost the growth of the market. Moreover, the growing residential construction industry in Middle Eastern countries such as the UAE will propel the demand. For instance, in August 2022, in the heart of MBR City, Dubai, Azizi Developments unveiled Riviera Reve, the fourth and most opulent phase of its exclusive French Mediterranean-inspired community project. Riviera Reve, the most upscale and exclusive section of Riviera, will include 24 ultra-luxury buildings, with 5,061 houses that include more than 2,600 studio apartments, 1,579 one-bedroom units, and 876 two-bedroom units. Thus, such developments in the residential construction industry will foster the growth of the global market through the residential segment during the forecast period.
Based on the type, the market has been segmented into capped composite and uncapped composite. The capped composite?segment will account for the largest share of this segment.?This is majorly used in residential and non-residential applications because of its physical properties. The introduction of capped composites in various regions such as APAC, MEA, and Europe, in addition to the increasing product awareness and the benefits associated with this segment, is expected to drive the growth of the capped composite segment in the market during the forecast period.
North America is estimated to contribute 40% 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.
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Further, most residences in North America have decks. Between 2010 and 2021, there was an increase in the construction of single-family homes in the US with decking. In 2021, there were 50,000 single-family houses with decks built, as compared with 32,000 single-family houses in 2010. The demand is rising in North America to enjoy life with personal outdoor spaces and improve their homes with affordable alternatives. Customers are increasingly investing in renovation and home improvement services in addition to raising the value of their homes. Moreover, the increase in home renovation and housing completions will be the main factors driving the demand during the forecast period. More restaurants and hotels are anticipated to build decks as a part of the outdoor living trend to provide customers with appealing spaces to lounge and eat outdoors. Thus, all the abovementioned factors will drive the growth of the market in North America during the forecast period.
The market is characterized by its use of recycled plastic material to create durable and environmentally friendly plastic decking solutions. PVC decking offers aesthetic value and quality comparable to traditional wood decks while leveraging materials like high-density polyethylene (HDPE) and polypropylene in various composite types. The capped composite market within PVC decking enhances resistance to ultraviolet radiations and weathering, extending product lifespan. Companies such as Azek Building Products, Inc, Certainteed Corporation, and Duralife Decking lead the market with innovations in building facades and advanced environmental solutions. Market opportunities are segmented geographically, offering tailored solutions at country level. As sustainability becomes a focal point, PVC decking continues to evolve, meeting consumer demand for durable, low-maintenance outdoor building materials with improved aesthetics and performance characteristics.
The increasing need for customized decking is notably driving the market growth. This outdoor structure, widely used to enhance the aesthetic appeal of residences, has gained popularity since around 2010. Outdoor decking is now commonly incorporated into outdoor living spaces for various purposes, including entertainment and dining. The development of anti-split and effective drainage systems has made maintenance more cost-effective, leading to a wider use of decking. This advancement has been particularly beneficial in areas experiencing rapid urbanization and industrialization, where decking materials such as plastics are widely used in various applications like pipes, flooring, cables, roofing, and moisture control. The appearance and design of decking are continuously evolving.
Furthermore, companies in the market are striving to incorporate additional fixtures and accessories such as screens, charging points, and other peripherals to meet consumer demands. The changing needs of customers have also prompted companies to offer complete systems with ready-to-use DIY decks. These companies are looking to expand the scope of customization, which is expected to drive market growth in the forecast period.
Rising demand for sustainable and eco-friendly construction materials is an emerging trend shaping the market growth. There is an increasing demand by consumers for eco-friendly, low-maintenance, and durable decking materials, which is a major factor that is driving the growth of the market. Builders and homeowners increasingly prefer this as it has a longer lifespan and requires less upkeep, in addition to its resistance to rot, insects, and moisture. Moreover, the growing desire for sustainable building materials and awareness of environmental concerns is increasing the demand made from recycled or eco-friendly materials, among consumers.
However, the objective of eco-friendly decking options is to reduce reliance on virgin materials, minimize the use of harmful chemicals, and promote recycling, which in turn contributes to a more environmentally responsible approach to outdoor construction and home improvement which in turn results in the PVC decking market expansion. Therefore, the rising demand for sustainable and eco-friendly construction materials will drive the growth of the global market during the forecast period.
Threat from the unorganized global market is a significant challenge hindering the market growth. The market is highly fragmented, with the presence of numerous global and regional companies. The market also faces stiff competition from the unorganized market, particularly in China and India. The entry of unorganized players is quite prevalent in these countries due to the low labor cost. Established companies in the global market are facing a considerable threat from local unorganized players in India.
However, the unorganized players offer products at a low price, which is below the competitive standards. These factors may lead to a price war among competitors present in the PVC decking market. Therefore, the unorganized market will be a major challenge to the growth of the market during the forecast period.
Companies are implementing various strategies by analyzing factors such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product or service launches, to enhance their presence in the market.
The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including Atkinsons Fencing Co., BARRETTE OUTDOOR LIVING Inc., Cardinal Building Products, Cladco, Compagnie de Saint Gobain, Euro Architrade Pvt. Ltd., Fortune Brands Innovations Inc., Futurewood Pty Ltd., Genova Products Inc., Green Bay Decking, MacCann and Byrne Ltd., PrimeSource Building Products Inc., TAMKO Building Products LLC, The AZEK Co. Inc., Tiva Building Products, Trex Co. Inc., TruNorth International Corp., UFP Industries Inc., VEKA AG, and Wickes Building Supplies Ltd.
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.
The 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 - 2028.
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The market is influenced by various factors including humidity and resistance to ultraviolet radiations, making it suitable for both residential applications and commercial development. Utilizing low density (LDPE) materials, PVC decking offers durability and aesthetic appeal, addressing geographical segments with tailored product offerings. Product pricing strategies are pivotal amidst political factors and social scenarios, analyzed through frameworks like Porter's 5 Forces and macroeconomic analysis. Regulatory compliance and government spending impact market dynamics, influencing competitive advantage and market positioning. Leading players in the industry, characterized by their company regional footprint and industry footprint, focus on innovation and scalability in product features & functions, driving inorganic growth and leveraging Ace Matrix ratings like Active, Cutting Edge, and Innovator. With a strategic business strategy and emphasis on industry coverage, PVC decking manufacturers navigate historical and projected pricing trends to maintain market leadership.
Further, the market is shaped by several key factors and strategies. PVC decking materials are engineered to withstand ultraviolet radiations, ensuring longevity and color retention in outdoor settings. Services penetration in the market involves reaching end consumers through various intermediaries, enhancing distribution channels and customer reach. Strategic analysis using Porter's 5 Forces Framework helps companies evaluate competitive dynamics, considering factors such as historical pricing trends, regulations, and their position in the market. Winning imperatives for PVC decking manufacturers include innovation in product strategy to meet consumer demands for durability and aesthetic appeal. The market is led by top players with a strong company industry footprint, focusing on current strategies that emphasize market expansion and customer satisfaction. As the industry evolves, emphasis on product strategy remains crucial, driving advancements in PVC decking technologies and materials to maintain competitive edge and market leadership.
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Market Scope |
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Report Coverage |
Details |
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Page number |
160 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.02% |
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Market Growth 2024-2028 |
USD 645.87 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
7.45 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 40% |
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Key countries |
US, Canada, China, UK, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Atkinsons Fencing Co., BARRETTE OUTDOOR LIVING Inc., Cardinal Building Products, Cladco, Compagnie de Saint Gobain, Euro Architrade Pvt. Ltd., Fortune Brands Innovations Inc., Futurewood Pty Ltd., Genova Products Inc., Green Bay Decking, MacCann and Byrne Ltd., PrimeSource Building Products Inc., TAMKO Building Products LLC, The AZEK Co. Inc., Tiva Building Products, Trex Co. Inc., TruNorth International Corp., UFP Industries Inc., VEKA AG, and Wickes Building Supplies Ltd. |
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Market dynamics |
Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
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Customization purview |
If our market research report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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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
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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