Plastic Decking Market Recent Trends, Development 2024
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Depending upon the type of polymer, the global market for plastic decking can be segmented into PVC, HDPE, LDPE, and PP categories. Of these, HDPE and LDPE are anticipated to hold a sway over the market with maximum share. This is because HDPE exhibit high strength and stiffness on account of which they find application in the residential sector and LDPE contains certain strength-enhancing additives useful for manufacturing decking products.
Depending upon the type of composite again, the report splits the global market for plastic decking into capped and uncapped varieties. Capped composite decking, prepared by blending pre and post-consumer recycled plastic and timber mill scraps to obtain solid products, is expected to rule the market in the near future owing to their resistance to color fading and rotting. Further, capped composites have a protective coating of UV inhibitors and anti-oxidants that prevent the growth of mildew and mold, thereby preventing splintering and rotting. Uncapped composites, on the other hand, are vulnerable to staining, fading, mold, and mildew. This explains their diminishing demand.
Some of the unique perceived benefits of plastic decking is that they are stain-resistant, do not require finishing, or high maintenance. Additionally, they are unaffected by splintering which keeps them in good shape for longer. They do not fade easily and are resistant to moisture. On account of so many advantages, plastic decking is gaining widespread popularity in the overall decking industry. Other prominent growth drivers in the global market for plastic decking are the burgeoning construction industry which has driven up demand for low-maintenance superior quality decks.
Countering the growth in the market, on the other hand, is the fact that plastic decks expand and contract in certain climates resulting in loosening joints and making them unstable. Further, in hot climes, plastic decks can become extremely hot and can actually radiate heat, making them uncomfortable. However, thrust on research and development to come up with better products will likely help the market overcome the aforementioned hurdles and grow at a good clip.
Geographically, the key segments of the global plastic decking market are North America, Europe, Latin America, Asia Pacific, and Middle East and Africa. Of them, North America is likely to account for maximum demand on account of a strong requirement for low-maintenance building products in its ever-expanding construction industry. Besides, stringent norms against use of wood in North America and Europe have also resulted in swift uptake of plastic decking. In Asia pacific, the increasing pace of urbanization and changing lifestyles, particularly in countries of India and China, have resulted in a surge in new and existing house completions that in turn has stoked demand for plastic decking.
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To assess the competition prevailing in the global market for plastic decking, the report has profiled companies such as Advanced Environmental Recycling Technologies, Inc, Cardinal Building Products, Certainteed Corporation, Fiberon, LLC, Green Bay Decking, LLC, Tamko Building Products, Inc., UPM Kymmene Corporation, and Universal Forest Products, Inc.
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