PUNE, India, July 26, 2016 /PRNewswire/ --
The report "Plastic Decking Market by Resin Type (HDPE, LDPE, PVC, PP), Composite Type (Capped, Uncapped), Type of Construction (Repairs & Remodeling, New Decks (Existing Constructions, New Constructions)), End-Use (Residential, Non-Residential) - Global Forecast to 2021" published by MarketsandMarkets, The market size is estimated to grow from USD 2.55 Billion in 2015 to USD 4.69 Billion by 2021, at a CAGR of 10.82%.
Browse 190 market data Tables and 45 Figures spread through 204 Pages and in-depth TOC on "Plastic Decking Market"
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The Plastic Decking Market is projected to witness significant growth in the next few years with the increasing demand for new constructions all over the world due to rapid urbanization and industrialization with large-scale investments in industrial and infrastructure sectors, rising construction activities in emerging economies, and development of innovative products in the decking market are some of the factors driving the growth of the Plastic Decking Market.
Capped composite decking will drive the growth of the Plastic Decking Market
The major factor driving the Plastic Decking Market is the replacement of traditional materials with capped composite decking products. The capped composite segment accounted for the largest market share in the Plastic Decking Market as these products offer superior properties including resistance to rotting, color fading, and mold & mildew growth formation. Capped composites have a resin protective layer attached to the wooden core. This protective resin layer helps in preventing rotting, splintering, and mildew & mold growth formation.
Residential buildings to gain maximum traction during the forecast period
The residential buildings segment dominated the market in 2015 and is projected to be the fastest-growing end-user sector in the next five years, as a result of the rising urbanization and changing lifestyle inclined toward low-maintenance and better quality decks in homes. The residential market is driven by the rise in new and existing housing completions. Furthermore, plastic provides better properties such as superior aesthetics, quality, durability, and low maintenance cost as compared to traditional decking. The development of capped composite decking, which is superior in quality than uncapped decking, is expected to drive the growth of the residential Plastic Decking Market.
"North American Plastic Decking Market constitutes the largest market share."
The U.S. contributes a major market share in the global as well as North American Plastic Decking Market. The recovery of the U.S. residential market by 2010 after the 2008 recession, and the increasing demand of low maintenance building products are some of the factors driving the Plastic Decking Market in North America. The Plastic Decking Market in this region is growing rapidly due to the presence of numerous leading players in the region.
The major players in the Plastic Decking Market includes UPM Kymmene Corporation (Finland), Universal Forest Products, Inc. (U.S.), Advanced Environmental Recycling Technologies, Inc. (U.S.), Azek Building Products, Inc. (U.S.), Fiberon LLC (U.S.), Cardinal Building Products (U.S.), TAMKO Building Products, Inc. (U.S.), CertainTeed Corporation (U.S.), Green Bay Decking, LLC (U.S.), and DuraLife Decking & Railing Systems (U.S.).
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