Press release
Plastic Lumber Market Size | Industry Thriving Worldwide at a Significant Growth | Forecast to 2033
Plastic Lumber Market
Plastic lumber is all set to become the leader in the lumber industry plastic lumber is durable and affordable at the same time. This versatile building material is produced from recycled plastics, typically high-density polyethylene (HDPE) or a combination of various plastic types.
Download Sample Pages of Research Overview: https://www.alliedmarketresearch.com/request-sample/3161
Prime determinants of growth
The global plastic lumber market is experiencing growth due to several factors such as growing government regulations and incentives and properties of plastic lumber such as durability and low maintenance, highly resistant to rot, decay, and insect infestations. However, the limited awareness regarding plastic lumber hinders market growth to some extent. Moreover, rising demand for eco-friendly products offers remunerative opportunities for the expansion of the Plastic Lumber market.
Report Coverage & Details:
Forecast Period 2023-2032
Base Year 2022
Market Size in 2022 $5.3 billion
Market Size in 2032 $15.8 billion
CAGR 11.3 %
No. of Pages in Report 309
Segments Covered
Product, Resin Type, Application and Region.
Drivers
Government regulations and incentive
Durability and low maintenance
Opportunity
Rising demand for eco-friendly products
Restraint
Limited awareness regarding plastic lumber
The composite segment is expected to grow faster throughout the forecast period
Based on the product, the virgin plastic segment held the highest market share in 2022, accounting for more than two-fifths of the global plastic lumber market revenue and is likely to retain its dominance throughout the forecast period. This can be attributed to the fact that virgin plastic can be used to create plastic lumber, which is a durable and versatile building material. Plastic lumber is commonly used in outdoor construction projects such as decking, fencing, and landscaping due to its resistance to rot, insects, and decay. It offers several advantages, including low maintenance, longevity, and the ability to withstand harsh weather conditions. However, the composite segment is projected to manifest the highest CAGR of 13.1% from 2023 to 2032. This can be attributed to the fact that composite lumber offers several advantages, including durability, resistance to rot, insects, and decay, low maintenance requirements, and an eco-friendly aspect of repurposing plastic waste. Its uses span from decking and fencing to outdoor furniture and landscaping, providing an enduring and aesthetically pleasing option that conserves natural resources and reduces the environmental impact associated with conventional wood products.
Procure Complete Report (309 Pages PDF with Insights, Charts, Tables, and Figures) @ https://bit.ly/3Q2vWmm
The polyethylene segment is expected to lead the trial by 2032
Based on the resin type, the polyethylene segment held the highest market share in 2022, accounting for more than two-fifths of the global plastic lumber market revenue and is likely to retain its dominance throughout the forecast period. This can be attributed to the fact that polyethylene, a versatile thermoplastic polymer, is commonly used in the production of plastic lumber. Plastic lumber is a sustainable alternative to traditional wood lumber, made from recycled or virgin polyethylene resin. Its defining characteristic is its durability, and resistance to rot, decay, and insect damage, making it ideal for outdoor applications such as decking, fencing, and outdoor furniture. It also reduces the need for deforestation and minimizes environmental impact. However, the other segments which consist of polypropylene, composite resins, high-density polyethylene (HDPE), and low-density polyethylene (LDPE) are projected to manifest the highest CAGR of 12.6% from 2023 to 2032. This can be attributed to the fact that polypropylene is a versatile thermoplastic polymer widely utilized in the production of plastic lumber. It is defined as a type of synthetic resin composed of propylene monomers. Polypropylene plastic lumber finds extensive use in outdoor and construction applications due to its exceptional durability, resistance to moisture, and low maintenance requirements. Its unique properties make it an ideal choice for decking, fencing, and other structural components, as it withstands harsh weather conditions, termites, and rot.
The molding trim segment is expected to grow faster throughout the forecast period
Based on the application, the decking segment held the highest market share in 2022, accounting for more than one-third of the global plastic lumber market revenue and is likely to retain its dominance throughout the forecast period. This can be attributed to the fact that plastic lumber is a sustainable and eco-friendly alternative to traditional wood and finds extensive application in decking projects. Its durability and resistance to rot, termites, and decay make it an ideal choice for outdoor spaces. Plastic lumber decking is low maintenance, requiring no staining or sealing, and it can withstand harsh weather conditions, ensuring a longer lifespan. Moreover, it contributes to environmental conservation by reducing the demand for natural wood resources and diverting plastic waste from landfills. However, the molding trim segment is projected to manifest the highest CAGR of 12.2% from 2023 to 2032. This can be attributed to the fact that plastic lumber's low maintenance requirements eliminate the need for painting or staining, reducing long-term costs. Moreover, it can be easily customized and cut to fit various design preferences, offering versatility in architectural aesthetics. By choosing plastic lumber for molding trim, builders and homeowners not only enhance the visual appeal of their structures but also contribute to sustainable, eco-friendly construction practices by recycling plastic waste.
Europe to maintain its dominance by 2032
Based on region, Europe held the highest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global plastic lumber market revenue and is expected to rule the roost in terms of revenue throughout the forecast timeframe. The plastic lumber market in Europe has experienced substantial growth in recent years. This eco-friendly alternative to traditional wood is gaining popularity due to its durability, low maintenance requirements, and sustainability. With increasing awareness of environmental issues and a push for more sustainable construction materials, the demand for plastic lumber in Europe has surged. Governments and organizations are also promoting its use through regulations and incentives. The market is witnessing innovation in terms of product variety and applications, ranging from outdoor decking and furniture to landscaping and marine structures.
Key Market Players: -
AMERICAN RECYCLED PLASTIC
GENOVA PRODUCTS INC.
TANGENT TECHNOLOGIES, LLC.
TREX COMPANY, INC.
KWK PLASTIC LUMBER CO., LTD.
REPEAT PLASTICS AUSTRALIA PTY LTD.
ECOVILLE
CMI
PLASTEAK
FIBERON
The report provides a detailed analysis of these key players in the global plastic lumber market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Want to Access the Statistical Data and Graphs, Key Players' Strategies: https://www.alliedmarketresearch.com/plastic-lumber-market/purchase-options
Contact:
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com
Web: www.alliedmarketresearch.com
Allied Market Research Blog: https://blog.alliedmarketresearch.com
About Us
Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Plastic Lumber Market Size | Industry Thriving Worldwide at a Significant Growth | Forecast to 2033 here
News-ID: 3466809 • Views: …
More Releases from Allied Market Reasearch
Carbon Nanomaterial Market 2025: How these factors will help to escalate market …
Allied Market Research published a report, titled, "Global Carbon Nano Materials Market by Product Type (Graphene, Carbon Nanofibers, Fullerenes, Others): Global Opportunity Analysis and Industry Forecast, 2022-2031." According to the report, the global carbon nano materials market accrued a sum of $2.9 billion in 2021, and is projected to reach $31.6 billion by 2031, witnessing a CAGR of 27.7% from 2022 to 2031. The report offers a detailed analysis of…
Magnetic Beads Market Sales Revenue to Touch $2.6 Billion By 2027 | Major Compan …
Allied Market Research recently published a report, titled, "Magnetic Beads Market by Magnetic Core (Ferrimagnetic and Superparamagnetic), Size (Less than 5 um, 5-20 um, 20-40 um, and 40 um & Above) and Application (Next-Generation Sequencing (NGS), Biomolecule Separation & Purification, Molecular & Immunodiagnostics, and Other): Global Opportunity Analysis and Industry Forecast, 2020-2027″. As per the report, the global magnetic beads industry was pegged at $1.1 billion in 2019, and is…
Carbon Steel Market Statistics, Size Will Hit $1.3 Billion By 2032 | Growth With …
Allied Market Research has released a comprehensive report titled "Carbon Steel Market," providing insights into the market's dynamics and growth opportunities. The global carbon steel market, valued at $0.9 trillion in 2022, is projected to reach $1.3 trillion by 2032, with a CAGR of 3.6% from 2023 to 2032. The report covers key determinants of growth, market segmentation, and regional outlook.
Access Full Summary @ https://www.alliedmarketresearch.com/carbon-steel-market-A08203
Key Report Details:
Type: Low carbon steel,…
Medical Composite Market Sales Revenue to Hit $2.3 Billion By 2030 | Growth With …
Increase in use of medical composites in diagnostic imaging application and surge in demand from composite body implants drive the growth of the global medical composites market. Based on application, the diagnostic imaging segment accounted for the major share in 2020. By region, on the other hand, the market across Asia-Pacific would manifest the fastest CAGR by 2030.
Access Full Summary @ https://www.alliedmarketresearch.com/medical-composite-market-A14376
The global medical composites market was estimated at $0.9…
More Releases for Plastic
Plastic bottles at events - Better party with plastic
Partying, dancing, camping - festivals attract hundreds of thousands of visitors every year in Germany alone. One challenge: supply and safety. For this reason, drinks in glass bottles are banned at most events due to the risk of injury. Lightweight and unbreakable plastic bottles, on the other hand, are considered a safe and practical alternative. Not only that: they can even be used to make a musical instrument.
Festivals or pageants…
Plastic Pallet With Plastic Crate Use: Efficient Material Handling
When it comes to efficient moving and storage of goods, a combination of plastic pallets [https://www.agriculture-solution.com/plastic-pallet/]and plastic crates is a popular choice. They are widely used in various industries such as manufacturing, retail, agriculture, etc. for storage and transportation of goods. Plastic pallets are designed to provide a stable base for stacking and shipping goods, while plastic crates provide safe and protective containers for stored or transported items. Plastic pallets…
Plastic Granules Market to Witness Massive Growth by Balaji Plastic, Navkar Indu …
The Worldwide Plastic Granules Market has witnessed continuous growth in the past few years and is projected to grow at a good pace during the forecast period of 2023-2029. The exploration provides a 360° view and insights, highlighting major outcomes of Worldwide Plastic Granules industry. These insights help the business decision-makers to formulate better business plans and make informed decisions to improve profitability. Additionally, the study helps venture or emerging…
Insights on the Growth of Plastic Granules Market 2018 to 2025 | Profiling Key C …
UpMarketResearch offers a Latest report on “Plastic Granules Market Analysis & Forecast 2018-2025” delivering key insights and providing a competitive advantage to clients through a detailed report. The report contains 114 pages which highly exhibits on current market analysis scenario, upcoming as well as future opportunities, revenue growth, pricing and profitability.
Request Sample Copy of This Report@ https://www.upmarketresearch.com/home/requested_sample/49052
Plastic Granules research report delivers a close watch on leading competitors with strategic…
Agriculture Film Market SWOT Analysis of Leading Key Players Shandong Tianhe Pla …
HTF MI recently introduced Global Agriculture Film Market study with in-depth overview, describing about the Product / Industry Scope and elaborates market outlook and status to 2023. The market Study is segmented by key regions which is accelerating the marketization. At present, the market is developing its presence and some of the key players from the complete study are British Polythene Industries (BPI), Trioplast, Berry Plastics, Armando Alvarez, Polypak, Barbier…
Building Materials Market 218 : Hepworth, National Plastic Industry, Hira Indust …
Building materials in this report covered the PVC pipes and fittings, PPR pipes and fittings, PE pipes and fittings, fabrication, ducts systems for infrastructure, valves and pumps and electrical conduits PVC systems.
At present, Hepworth, National Plastic Industry, Hira Industries, Florance Plastic Industries, Polyfab Plastic Industry, MPI, Union Pipes Industry, ANABEEB, Borouge and ACO Group are the UAE leading suppliers of the building materials, and top ten of them shared about…
