Global Composite Decking Market

Composite Decking Market Size, Share, Growth Analysis, By Material Type(Wood-Plastic Composite (WPC), Capped Composite), By Product(Solid Composite Decking, Hollow Composite Decking), By End-Use(Residential and Commercial) - Industry Forecast 2024-2031

Report ID: SQMIG15F2140 | Region: Global | Published Date: March, 2024
Pages: 184 | Tables: 88 | Figures: 72

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Composite Decking Market size was valued at USD 3.31 billion in 2022 and is poised to grow from USD 3.84 billion in 2023 to USD 12.69 billion by 2031, growing at a CAGR of 16.1% during the forecast period (2024-2031).

The composite decking market is highly competitive, with numerous players vying for market share. Competition in the market is driven by factors such as product innovation, brand reputation, distribution networks, pricing strategies, and customer service. Composite decking providers should focus their efforts on developed as well as developing countries to maximize their sales and revenue generation potential in the future. Composite decking companies can also invest in research and development to create new products that help them stay ahead of the competition. 'Trex', 'AZEK', 'Fiberon', 'Tianzhen Bamboo Flooring', 'Taizhou Huali', 'Barrette Outdoor Living', 'Oldcastle', 'UFP Industries', 'UPM', 'TAMKO', 'Zhejiang Walrus', 'Cali Bamboo', 'Silvadec', 'TECNODECK', 'Fortress Building Products', 'DuxxBak Composite Decking'

As homeowners seek low-maintenance outdoor living solutions, the demand for composite decking continues to rise. Composite decking offers advantages over traditional wood decking, including durability, resistance to rot and insect damage, and minimal upkeep requirements, which in turn, drive market growth. The growth of the residential construction sector, driven by factors such as urbanization, population growth, and improving living standards, fuels demand for decking materials. Composite decking is commonly used in residential projects for decks, patios, balconies, and outdoor living spaces.

Composite decking market players can focus on the adoption of novel material technologies to create new types of products with better enhanced properties. Companies can also mimic the appearance and feel of other materials such as wood while providing the robust durability features of composite materials as well. Incorporation of eco-friendly materials will also be a key trend that composite decking market players should focus on in the long run.

North America dominates the composite decking market, driven by driven by factors such as the popularity of outdoor living spaces, high homeownership rates, and a robust construction industry. North America has a well-established composite decking market, with a long history of adoption and widespread use of composite decking materials in residential and commercial construction projects. North American consumers value the benefits of composite decking, including durability, low maintenance, and resistance to rot, decay, and insect damage. These preferences have contributed to the widespread adoption of composite decking in residential properties across the region.

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Global Composite Decking Market

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