Global Market for Composite Decking
Dublin, May 19, 2022 (GLOBE NEWSWIRE) -- The "Composite Decking - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Composite Decking Market to Reach US$5.8 Billion by the Year 2027
The global market for Composite Decking estimated at US$2.8 Billion in the year 2020, is projected to reach a revised size of US$5.8 Billion by 2027, growing at a CAGR of 11.2% over the period 2020-2027.
Capped, one of the segments analyzed in the report, is projected to grow at a 11.5% CAGR to reach US$4.3 Billion by the end of the analysis period.
After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Uncapped segment is readjusted to a revised 10.5% CAGR for the next 7-year period. This segment currently accounts for a 28.4% share of the global Composite Decking market.
The U.S. Accounts for Over 32.3% of Global Market Size in 2020, While China is Forecast to Grow at a 15.1% CAGR for the Period of 2020-2027
The Composite Decking market in the U.S. is estimated at US$899.3 Million in the year 2020. The country currently accounts for a 32.34% share in the global market.
China, the world second largest economy, is forecast to reach an estimated market size of US$971.8 Million in the year 2027 trailing a CAGR of 15.1% through 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.9% and 10.5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 10.2% CAGR while Rest of European market (as defined in the study) will reach US$971.8 Million by the year 2027.
What's New for 2022?
Global competitiveness and key competitor percentage market shares
Market presence across multiple geographies - Strong/Active/Niche/Trivial
Online interactive peer-to-peer collaborative bespoke updates
Access to the publisher's digital archives and Research Platform
Complimentary updates for one year
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Impact of Covid-19 and a Looming Global Recession
Year 2021 and Beyond
Recovery in Construction Industry to Drive Market Growth
Trends in the Construction Industry Influence Market Uptake
Increased Activities of Remodeling and Renovation to Propel the Growth
COVID-19 Impact on Plastic Decking Market
Home Improvement Projects & Interest in DIY Stimulate Composite Decking Demand amid COVID-19
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
A Prelude to Plastic Decking
Global Market Overview and Market Prospects
Affordability and Low Maintenance- Key Driving Forces of the World Plastic Decking Market
Capped Decking Leads the Market, Set to Make Big Gains
Polyethylene Constitutes the Main Resin
Regional Market Analysis
United States Leads the Global Plastic Decking Market, Asia-Pacific to Witness Fastest Growth
US Decking Market Trends
Asia-Pacific Witnesses Rapid Growth, Strong Construction Activity Makes China and India Lucrative Markets
Developing Countries Emerge as Hot Spots for Future Growth
Recent Market Activity
2. FOCUS ON SELECT PLAYERS (Total 110 Featured)
Axion Structural Innovations LLC
Azek Building Products, Inc.
DuraLife Decking & Railing Systems
Green Bay Decking
TAMKO Building Products LLC
Trex Company, Inc.
3. MARKET TRENDS & DRIVERS
Increasing Shift towards Plastic Composite Decking from Natural Wood Counterparts Drive Market Growth
PVC Decking Witnesses Increased Popularity
Rising Lumber Prices Increases Popularity of Plastic Decking
Composite Decking as a Good Alternative to Wood Decks
Composite Decking Makers Set Focus on Chipping Away Wood Sales with Better Options
Plastic Decking Gains Popularity among Homeowners
Customers Seek More Functionality from Decks
Value Addition at Affordable Price Points
Building Relationships with Remodeling Contractors
Serious Efforts by Composite Vendors to Push Share
Recent Breakthroughs Make Composite Decking a Cooler Option for Homeowners
Composite Decking with Cooler Surfaces
Customized Surface Finishes - A New Trend
Multi-Width Composite Decking Boards
Synthetic, Affordable Decking
Hollowed Decking Boards Gain Popularity
Innovative Products Widen the Addressable Market
Technological Advancements Augment Functional and Design Attributes
Favorable Demographic & Socio-Economic Trends Strengthen Market Prospects
Rapid Growth in Urban Households
Growing Affluence of Middle Class Consumer Segment
Rising Living Standards
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
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