Latest Updates on Composite Decking Market Revenue
The key players in the composite decking market are TimberTech (U.S.), Trex Company, Inc. (U.S.), Advanced Environmental Recycling Technologies, Inc. (U.S.), Fiberon LLC (U.S.) and UPM Biocomposites (Finland). Some of the other players in the composite decking market are TAMKO Building Products, Inc. (U.S), Universal Forest Products, Inc. (U.S), Axion International, Inc.(U.S), Integrity Composites (U.S), and Green Bay Decking (U.S).
Composite decking continues to gain industry momentum, as outdoor living projects remain a high priority for homeowners when considering renovation projects. Composite decking is widely used for its special features as opposed to natural wood decking products. Growth in demand for low maintenance building projects is expected to drive the composite decking market over the forecast period.
The wide availability of new and innovative products has been one of the market drivers for the composite decking market. Recovery of the residential housing market in North America has fuelled growth of the global composite decking market. The major element influencing the composite decking market are replacement of old-fashioned decking materials with uncapped and capped composite decking products. These products have some superior properties such as resistance to color fading, rotting, mold and decay growth formation. Uncapped composite decking is costlier compared to capped composite decking and accounts for low cost in the long run. Capped composite decking is basically plastic composites which have a resin protected layer that is attached with the help of the wooden core. The resin protected layer restricts mold growth creation, splintering, and rotting.
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The composite decking market is segmented by three types- by application, by type, and by resin type. On the basis of type, the composite decking market is segmented by capped composites and uncapped composites. Uncapped composite decking is expected to be the dominant segment owing to the low maintenance cost and increasing popularity among consumers.
On the basis of resin type, the composite decking market is segregated by polypropylene, polyethylene, polyvinyl chloride, and other related types of resin-based composite decking. Polypropylene resin is resilient to thermal expansion and contraction, and can also preserve the structural integrity as well as long stability of decking. Polypropylene has improved creep resistance and is less greasy.
Besides, as polypropylene resin is firmer compared to other resins, longer decking panels can be manufactured using polypropylene resin. Owing to these reasons, polyethylene is a dominant segment and it is expected to remain so over the estimated period. On the basis of application, the composite decking market is segmented by residential and non-residential. The non-residential composite decking market is expected to be the dominant segment. The non-residential application of composite decking includes marinas, docks, commercial establishments, public boardwalks, patios, and flooring.
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On the basis of geography, the composite decking market is segmented by North America, Europe, Asia Pacific, Middle-East & Africa, and Latin America. North America accounted for majority of the market share of composite decking in 2015 and is expected to remain dominant over the forecast period. The recovery of the residential markets in North America has been one of the major drivers for the composite decking market. Europe has a considerable market share in the global composite decking market. Asia Pacific is one of the fast growing regions for composite decking and it is expected to remain so over the forecast period. The replacement of traditional types of composite decking materials with uncapped type of decking has fuelled the demand for composite decking in this region. Middle East & Africa has an emerging composite decking market owing to the introduction of innovative types of composite decking products.