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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. These solutions are popular for enhancing the visual appeal of residential properties, especially outdoor spaces. With a focus on customization and design flexibility, personalized decking solutions cater to homeowners' specific preferences and style, contributing to the overall aesthetic value of their properties. As outdoor living spaces become increasingly important for homeowners, the demand for personalized decking solutions is expected to continue to grow. The 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 report includes a comprehensive outlook on the polyvinyl chloride decking market offering forecasts for the industry segmented by Application, which comprises residential and non-residential. Additionally, it categorizes Types into capped composite and uncapped composite, and covers Geography regions, including North America, APAC, Europe, Middle East and Africa, and South America.
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.
Polyvinyl chloride decking is defined as a decking material that is made from a synthetic plastic polymer known as polyvinyl chloride. Polyvinyl chloride decking is known for its low maintenance requirements, durability, and resistance to mold, rot, and insects. It is increasingly used as an alternative to traditional wood decking owing to its resistance to environmental elements and long lifespan.
The market is driven by factors like rapid urbanization and industrialization, which increase the demand for plastics in various applications such as pipes, flooring, and cables. PVC decking offers several advantages, including moisture control and resistance to mold, making it suitable for outdoor use. Compared to traditional materials like wood, PVC decking provides superior heat stability and durability with enhanced tensile and flexural strength. Its corrosion resistance and low maintenance requirements make it a preferred choice in the residential construction industry, especially for premium composite decking in single-family housing units.
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.
BARRETTE OUTDOOR LIVING Inc.??????. - The company offers PVC decking under various brands such as Select Series vinyl and Bella Premier vinyl.
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.
The market is driven by various factors, including investments from governments and growth in manufacturing industries. PVC decking is used in various applications such as pipes, flooring, window profiles, cables, and roofing due to its properties like moisture control, mold resistance, and humidity resistance. The market is influenced by factors such as prices of PVC, which are tied to crude oil costs and raw material availability. In Canada, the market is driven by factors like construction spending, population growth, and consumer inclination towards sustainable building materials. Key players are focusing on research and development activities and expansion opportunities to capitalize on the growing demand for PVC decking in both residential and commercial construction applications.
The market is driven by the durability and decay resistance of PVC resin, making it ideal for residential applications. Key growth areas include residential green buildings and commercial spaces, where PVC decking offers excellent compression properties and tensile strength. Consumer perception is positive due to PVC's low maintenance requirements and outdoor aesthetics. The market is supported by sustainable energy systems and is expected to see growth in the production of decks for industrial sectors. Key players are focusing on expansion opportunities and competitive benchmarking, ensuring a strong presence in the market. Manufacturers focus on using high-quality exterior materials for durability, while also considering interior design aspects. The market offers PDF reports and online dashboards for insights into company revenue shares and regional opportunities. Global players often lead in market share, but regional players also play a significant role, contributing to the market's consolidation and growth.
The market in Canada is driven by various factors, including the use of PVC derivatives like Polyvinyl alcohol (PVA) and Polyvinyl acetate in the production of durable decking materials. Concrete crack injection and the incorporation of aluminum components enhance the structural integrity of PVC decking, making it suitable for both residential and commercial building applications. The market benefits from the focus on exterior aesthetics and the increasing demand for low-maintenance outdoor decks. Key players are exploring growth and expansion opportunities, leveraging their distribution networks and product brands to strengthen their position in the market. The market in Canada is influenced by various factors, including data from Statistics Canada that tracks trends in the thermal power market and infrastructure industry.
Polyvinyl Chloride Decking Market Scope |
|
Report Coverage |
Details |
Page number |
160 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.02% |
Market Growth 2024-2028 |
USD 645.87 million |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
7.45 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 40% |
Key countries |
US, Canada, China, UK, and Germany |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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. |
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. |
Customization purview |
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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
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