Composite Decking Market, 32% of Growth to Originate from North America, Technavio

NEW YORK, Jan. 17, 2025 /PRNewswire/ -- The global composite decking market size is estimated to grow by USD 3.99 billion from 2025 to 2029, according to Technavio. The market is estimated to grow at a CAGR of 16.6% during the forecast period.

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Region Outlook

1. North America
2. Europe
3. Asia
4. Rest of World

1. North America - North America is estimated to contribute 32%. To the growth of the global market. The Composite Decking Market report forecasts market growth by revenue at global, regional & country levels from 2017 to 2027. 

The construction of single-family homes in the US with decks experienced significant growth between 2010 and 2021, with the number of houses built increasing from 32,000 in 2010 to 50,000 in 2021. This trend is driven by the rising demand for personal outdoor spaces and affordable home improvement options. As a result, the market for composite decking in North America is projected to grow. Homeowners are investing in renovation projects to enhance their properties and increase their value, making composite decks a popular choice due to their durability and low maintenance requirements. With the continued growth in single-family home construction and home improvement spending, the demand for composite decks is expected to remain strong during the forecast period.

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Segmentation Overview

1. Application 
• 1.1 Residential
• 1.2 Non-residential
2. Type 
• 2.1 Polyethylene
• 2.2 Polypropylene
• 2.3 Polyvinyl chloride
• 2.4 Others
3. Geography 
• 3.1 North America
• 3.2 Europe
• 3.3 APAC
• 3.4 South America
• 3.5 Middle East and Africa
4. Country
   US, China, UK, India, Germany, Canada, South Korea, France, Japan, and Italy

1.1 Fastest growing segment:

The residential segment of the composite decking market is anticipated to experience significant growth due to the increase in residential construction activities in the US, Europe, and Asia Pacific (APAC) regions. Factors such as increasing disposable incomes, urbanization, and government initiatives are driving the demand for new residential constructions and public infrastructure in countries like China, India, Malaysia, and Indonesia. The recovery of the global housing market in the US, Canada, Germany, and Spain is also expected to fuel the demand for composite decking. In the US, the residential building industry has benefited from expansionary monetary policies and record-low mortgage rates, leading to an increase in housing demand. Additionally, growing investments by countries like the US and Germany for remodeling and renovation of residential buildings will further boost the market growth. The Middle Eastern region, particularly the UAE, is also witnessing in residential construction activities, with projects like Azizi Developments' Riviera Reve in Dubai, which includes 25 luxury buildings and over 5,000 houses, contributing to the market expansion. Despite the temporary halt of residential construction activities due to COVID-19 lockdowns, the long-term growth prospects of the market remain positive, driven by the factors mentioned above.

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Research Analysis

Composite decking is a popular choice for homeowners and contractors due to its durability and low maintenance properties. This building material is made from a combination of natural wood fibers and plastic resins, creating varieties such as capped composite decking with a protective shell. While initial costs may be higher than natural wood, composite decking offers benefits like resistance to fading, staining, scratching, and high load-bearing capacity. Resin types used in composite decking include polyethylene and polypropylene, with a shift in trend towards the latter due to its superior performance. Composite decking railing is also available, offering a cohesive look for outdoor spaces. Other advantages include low thermal expansion, resistance to slip, and color stability. Raw material costs and segmentation, including form (solid or hollow), have influenced product offerings from companies like Cardinal Building Products, Green Bay Decking, Fiberon, and MoistureShield. The building and construction industry has seen a rise in demand for composite decking due to its benefits, while the requirement for natural wood is lessening due to harvesting and regulatory concerns.

Market Overview

Composite decking is a popular choice for homeowners and contractors seeking low-maintenance, weather-resistant solutions for their outdoor living spaces. This market offers various varieties, including capped composite decking with a protective shell, to ensure durability against fading, staining, scratching, and high foot traffic. Composite decking is known for its load-bearing capacity and resistance to slip, making it an ideal option for both residential and commercial projects. The shift in trend towards sustainable materials has boosted the composite decking market. Resin types, form, and segmentation are key factors influencing product offerings. Capped composite decking, with its low thermal expansion and color stability, is a top choice for clients seeking design versatility. However, raw material costs and color fading can be restraining factors. Interviews with industry executives reveal a rise in demand for composite decking railings and luxury lines. The Building and Construction Industry Association and other industry associations provide valuable data triangulation on market trends. The Transcend Lineage and other luxury composite decking lines cater to the growing demand for high-end, long-lasting outdoor living solutions.

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Key Topics Covered:

 1 Executive Summary
 2 Market Landscape
 3 Market Sizing
 4 Historic Market Size
 5 Five Forces Analysis
 6 Market Segmentation
 7 Customer Landscape
 8 Geographic Landscape
 9 Drivers, Challenges, and Trends
10 Venodr Landscape
11 Vendor Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE Technavio