Global Composite Decking and Railing Market Report 2021: Market to Reach $6.5 Billion by 2026 - Composite Decking Makers Set Focus on Chipping Away Wood Sales with Better Options
Global Composite Decking and Railing Market to Reach $6.5 Billion by 2026
Amid the COVID-19 crisis, the global market for Composite Decking and Railing estimated at US$2.9 Billion in the year 2020, is projected to reach a revised size of US$6.5 Billion by 2026, growing at a CAGR of 14.1% over the analysis period.
Capped Composites, one of the segments analyzed in the report, is projected to grow at a 14.6% CAGR to reach US$5.4 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Uncapped Composites segment is readjusted to a revised 12.8% CAGR for the next 7-year period. This segment currently accounts for a 28.5% share of the global Composite Decking and Railing market.
The U.S. Market is Estimated at $1 Billion in 2021, While China is Forecast to Reach $1.1 Billion by 2026
The Composite Decking and Railing market in the U.S. is estimated at US$1.0 Billion in the year 2021. The country currently accounts for a 32.3% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$1.1 Billion in the year 2026 trailing a CAGR of 18.9% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 11.3% and 13.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 12.8% CAGR while Rest of European market (as defined in the study) will reach US$1.3 Billion by the close of the analysis period.
Major growth drivers for the market include recovery in construction industry worldwide and technological advancements. Homeowners are increasingly choosing composite decking and railing systems over systems made of natural wood because of the many beneficial features of the former including lower thermal expansion and color fading and higher resistance to slip among others.
Composite decking is enjoying increasing popularity over wood owing to its appealing benefits, primarily lower maintenance and enhanced aesthetic appeal. Composite decking and railing systems combine the benefits of plastic, including easy care and low maintenance, with the aesthetics of wood. They are a blend of PV and recycled wood offering an elegant structure with durability and strength. While these products use different materials and fabrication methods, they score high in terms of value addition and visual appeal.
Moreover, various manufacturers are introducing new product lines at affordable price points to further extend their gains over traditional wood options. The influx of new and economical composite decking is narrowing down the price premium in comparison to wood, which is likely to bolster the market growth over the coming years. The market is poised to gain from access to diverse finish and color options, along with increasing homeowner investment in remodeling or renovation projects.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
A Prelude to Composite Decking and Railing Market
Advantages of Composite Decking
Different Types
Impact of Covid-19 and a Looming Global Recession
2020 Marked as a Year of Disruption & Transformation
The Race Between the Virus & Vaccines Intensifies. Amidst this Chaotic Battle, Where is the World Economy Headed in 2021?
So How Fast Or Slow Are We Moving?
Progress on Vaccinations, Why Should Businesses Care?
With IMF's Upward Revision of Global GDP Forecasts for 2021, Most Companies Are Bullish About a Global Economic Comeback.
Global Construction Industry Bears the Brunt of COVID-19
Recovery in Residential Construction Activity in the US to Drive Market Growth
COVID-19 Impact on Select Regional Construction Sectors
Asia
Canada
Australia
UK
Africa
Middle East
COVID-19 Impact on Composite Decking and Railing Market
Home Improvement Projects & Interest in DIY Stimulate Composite Decking Demand amid COVID-19
Global Market Overview and Market Prospects
Global Composite Decking and Railing Systems Market Set for Rapid Gains in Future
Composite Decking Market Rises High on Low-Maintenance & Green Credentials
Capped Decking Leads the Market, Set to Make Big Gains
Polyethylene Constitutes the Main Resin
Regional Market Analysis
United States Leads the Global Composite Decking and Railing Market
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
Competition
Some of the Popular Composite Decking and Railing Brands
Trex
TimberTech (AZEK)
Cali-Bamboo
Dura-Life
Envision Composite Lumber
Recent Market Activity
SELECT GLOBAL BRANDS
2. FOCUS ON SELECT PLAYERS (Total 56 Featured)
Advanced Environmental Recycling Technologies, Inc.
Axion Structural Innovations Llc
DuraLife Decking & Railing Systems
Fiberon
Green Bay Decking LLC
TAMKO Building Products, Inc.
TimberTech
Trex Co., Inc.
Universal Forest Products, Inc.
Upm Biocomposites
3. MARKET TRENDS & DRIVERS
Increasing Shift towards Composite Decking and Railing from Natural Wood Counterparts Drive Market Growth
Rising Lumber Prices Increases Popularity of Composite Decking
Composite Decking as a Good Alternative to Wood Decks
Composite Decking Makers Set Focus on Chipping Away Wood Sales with Better Options
Composite Decking and Railing 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 Railing Systems to go with Composite Decks
Innovative Products Widen the Addressable Market
Technological Advancements Augment Functional and Design Attributes
