Global Composite Decking and Railing Market Report 2021: Asia-Pacific Witnesses Rapid Growth, Strong Construction Activity Makes China and India Lucrative Markets – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Composite Decking and Railing – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
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
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/1ctyrn
Contacts
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
[email protected]
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
