The Composite Decking Market size was USD 4.71 Billion in 2021 and is expected to register a revenue CAGR of 11.0% during the forecast period. An increase in demand for Wood Plastic Composites (WPC) is the key factor driving market revenue growth. WPC is made from all-purpose polymers such as polyethylene and polyvinyl chloride. Wood plastic composites consume less energy since they melt at lower temperatures than pure plastics. They increase the aesthetic and practical value of a home and are long-term cost-efficient. These robust and long-lasting decking can be used for fencing, decking, and other things. WPC is utilized in automobiles for storage such as trunk trim, spare tire shelves, interior door trims, and others.
Top Companies Operating in the Global Composite Decking Market:
Advanced Environmental Recycling Technologies, Inc., Azek Building Products, Inc., Fiberon LL., Tamco Building Products Inc., Cardinal Building Products, CertainTeed Corporation, UPM Kymmene Corporation, Universal Forest Products, Inc., Duralife Decking, and Railing Systems, and Duxxbak Composite Decking.
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Increasing industrialization and urbanization, rise in demand for modern constructions, and replacement of the usage of traditional materials in decking are major factors driving market revenue growth. Plastic decking is an elevated flat surface construction used in building facades made from recycled plastic materials. It is highly resistant and requires low maintenance to enhance the aesthetic value and quality of a deck. Moreover, these materials are resistant to moisture and humidity, which in turn raises their demand in the construction industry. Plastic deck boards are weatherproof and waterproof because they do not contain natural materials like wood.
Market Overview:
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
The adoption of digital technologies by oil, gas, and chemical firms has been fueled primarily by cost savings and greater reliability. Many organizations in these areas saw excellent benefits from advanced market sensing, improved operational optimization, and expanded usage of "in silico" simulations. Companies' existing digital technologies provided an advantage with the abrupt entrance of COVID-19 and the accompanying shutdown of facilities and work sites, but they were often insufficient for the level of remote working and cybersecurity that was suddenly required.
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The Composite Decking Market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Composite Decking Market.
The global Composite Decking Market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Resin Type Outlook:
- Polyvinyl Chloride
- High density polyethylene
- Low density Polyethylene
- Polypropylene
Composite Type Outlook:
- Capped
- Uncapped
Type of construction Outlook:
- Capped
- Uncapped
End Use Outlook:
- Residential
- Non-residential
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