Plastic Decking Market: Residential Buildings Industry is Estimated to Play a Key Role

The report "Plastic Decking Market by Resin Type (HDPE, LDPE, PVC, PP), Composite Type (Capped, Uncapped), Type of Construction (Repairs & Remodeling, New Decks (Existing Constructions, New Constructions)), End-Use (Residential, Non-Residential) - Global Forecast to 2021", The plastic decking market size is estimated to grow from USD 2.55 Billion in 2015 to USD 4.69 Billion by 2021, at a CAGR of 10.82%. The plastic decking market is projected to witness significant growth in the next few years with the increasing demand for new constructions all over the world due to rapid urbanization and industrialization with large-scale investments in industrial and infrastructure sectors, rising construction activities in emerging economies, and development of innovative products in the decking market are some of the factors driving the growth of the plastic decking market. 

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Browse 190 market data Tables and 45 Figures spread through 204 Pages and in-depth TOC on "Plastic Decking Market"

Plastic decking is manufactured using recycled plastics or virgin polymers. The plastic decks helps to increase the strength, low maintenance, and durability. MarketsandMarkets projects that the plastic decking market size will grow from USD 2.55 billion in 2015 to USD 4.69 billion by 2021, at a compound annual growth rate (CAGR) of 10.82% from 2016 to 2021. The increase in demand of plastic decks from residential applications is driving the plastic decking market.

The key players in the plastic decking market are UPM Kymmene Corporation (Finland), Universal Forest Products, Inc. (U.S.), Advanced Environmental Recycling Technologies, Inc. (U.S.), Azek Building Products, Inc. (U.S.), Fiberon LLC (U.S.), Cardinal Building Products (U.S.), TAMKO Building Products, Inc. (U.S.), CertainTeed Corporation (U.S.), Green Bay Decking, LLC (U.S.), and DuraLife Decking & Railing Systems (U.S.). These players have adopted various strategies to expand their global presence and increase their market share. New product launches, partnerships, agreements, expansions, and investments are some of the major strategies adopted by the market players to achieve growth in the plastic decking market

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The year 2014 and 2015 witnessed several new product launches of plastic deck products by key players in order to strengthen their product portfolio and substantial agreements between plastic decks manufacturers and distributors. New product launches and agreements were the key strategies adopted by the manufacturers for expanding their market share in the plastic decking market

Azek Building Products, Inc. (U.S.) introduced a new product line of plastic decking called the Vintage Collection. The development of these new products will improve the performance of plastic decks which will support the growth of the market. Azek Building, Inc. (U.S.) introduced a new light color called Hazelwood for its arbor collection decking boards. Such decking colors are designed to match hardscapes and other exteriors to create a customized outdoor living space. The development of such products provides the company with a competitive edge over other manufacturers.

In 2013, Fiberon, LLC (U.S.) signed a distribution agreement with Shelter Products, Inc. (U.S.) to distribute the full line of Fiberon decking products. This agreement helped the company develop its business and enhance the supply of high-value products to its prospective customers. In the same year, the company signed a distribution agreement with Monsma Marketing Corporation, (U.S.) for the distribution of various decking colors, grain patterns, and design choices for builders and homeowners. This development strategy enabled the company to expand its market presence in the Midwestern region of the U.S. Plastic decking manufacturers worldwide are continuously upgrading their products and services to provide innovative, long lasting and advanced decking products.

The residential buildings industry is estimated to play a key role in the plastic decking market.

Decks are constructed outdoors above the ground and are connected to a building. Plastic decks have multiple applications such as garden landscaping, extension of living area of a house, dinning, play group area, and interiors of houses.  A significant change has been observed in the construction industry with the introduction of plastic decks as it offers high-performance, low-maintenance, and low-cost building products. Also, 3D concrete printing offers benefits of high quality control, increased efficiency, and better finishing. MarketsandMarkets projects that the global plastic decking market size will grow USD 2.55 billion in 2015 to USD 4.69 billion by 2021, at a CAGR of 10.82%. Increase in infrastructural activities, industrialization, and recovery of global economy are expected to be the major drivers of the plastic decking market.

Traditionally, wood and wood plastic composites were used to manufacture decking products. With the rising need for advanced innovative products and to overcome the limitations of conventional decking material, capped composites were launched. These composites contain an additional resin protection layer or capstock on the decking surface. The growing demand for high-performance decking in commercial applications such as hotels, marinas, and public parks has increased the need for capped composites. Capped composites dominated the plastic decking market, globally, especially in North America, owing to its superior product quality and better performance when compared to other composites. Manufacturers have started to manufacture capped composite decking products to establish their brand name and increase their market share in the plastic decking industry.

The residential sector is projected to be the fastest-growing market in the plastic decking market because of the properties exhibited in plastic decks such as resistance to rot, splinter, color fading, long product durability, and low maintenance cost. The residential application dominated the plastic decking market globally in 2015 and this trend is expected to continue during the forecast period. As residential applications require non-splintering, rot-resistant, and non-color fading decking products, plastic decks are largely used in this sector. The non-residential application of plastic decking includes docks, marinas, public boardwalks, commercial establishment patios, and flooring, among others. Capped composites are utilized in large volumes where the decking is always in contact with water.  

On the basis of resin type, the market for plastic decking is segmented into high-density polyethylene (HDPE), low-density polyethylene (LDPE), polypropylene (PP), and polyvinyl chloride (PVC). HDPE is projected to grow at the highest rate, owing to its easy to use and install, durable, and adaptable characteristics. HDPE products require no waterproofing, painting, staining, and are cost-effective; this segment is projected to grow at the highest CAGR.

In 2015, North America dominated the global plastic decking market by volume, with U.S. being the fastest-growing market in this region. This was followed by Europe, Asia-Pacific, and RoW. Plastic decking products offer better features such as low maintenance cost, long product durability, and superior aesthetic looks in comparison to natural wood decking products. The high growth in demand of plastic decking products is anticipated from the RoW and Asia-Pacific regions. The Middle Eastern region and Brazil are projected to be the fastest-growing markets for plastic decking in the RoW region.