Global Plastic Decking Market: Overview
Plastic decking, primarily formulated from recycled plastic material or virgin (new) plastic does not require any filler material. Over the years, it has become highly popular in the construction industry for crafting residential decking boards, window lineal, rails and balusters, door components, fencing, and sliding. Going forward too, it is slated to sustain its growth momentum on the back of its durability.
Depending upon the type of polymer, the global market for plastic decking can be segmented into PVC, HDPE, LDPE, and PP categories. Of these, HDPE and LDPE are anticipated to hold a sway over the market with maximum share. This is because HDPE exhibit high strength and stiffness on account of which they find application in the residential sector and LDPE contains certain strength-enhancing additives useful for manufacturing decking products.
Depending upon the type of composite again, the report splits the global market for plastic decking into capped and uncapped varieties. Capped composite decking, prepared by blending pre and post-consumer recycled plastic and timber mill scraps to obtain solid products, is expected to rule the market in the near future owing to their resistance to color fading and rotting. Further, capped composites have a protective coating of UV inhibitors and anti-oxidants that prevent the growth of mildew and mold, thereby preventing splintering and rotting. Uncapped composites, on the other hand, are vulnerable to staining, fading, mold, and mildew. This explains their diminishing demand.
Global Plastic Decking Market: Trends and Opportunities
Some of the unique perceived benefits of plastic decking is that they are stain-resistant, do not require finishing, or high maintenance. Additionally, they are unaffected by splintering which keeps them in good shape for longer. They do not fade easily and are resistant to moisture. On account of so many advantages, plastic decking is gaining widespread popularity in the overall decking industry. Other prominent growth drivers in the global market for plastic decking are the burgeoning construction industry which has driven up demand for low-maintenance superior quality decks.
Countering the growth in the market, on the other hand, is the fact that plastic decks expand and contract in certain climates resulting in loosening joints and making them unstable. Further, in hot climes, plastic decks can become extremely hot and can actually radiate heat, making them uncomfortable. However, thrust on research and development to come up with better products will likely help the market overcome the aforementioned hurdles and grow at a good clip.
Global Plastic Decking Market: Regional Outlook
Geographically, the key segments of the global plastic decking market are North America, Europe, Latin America, Asia Pacific, and Middle East and Africa. Of them, North America is likely to account for maximum demand on account of a strong requirement for low-maintenance building products in its ever-expanding construction industry. Besides, stringent norms against use of wood in North America and Europe have also resulted in swift uptake of plastic decking. In Asia pacific, the increasing pace of urbanization and changing lifestyles, particularly in countries of India and China, have resulted in a surge in new and existing house completions that in turn has stoked demand for plastic decking.
Companies Mentioned in the Report
To assess the competition prevailing in the global market for plastic decking, the report has profiled companies such as Advanced Environmental Recycling Technologies, Inc, Cardinal Building Products, Certainteed Corporation, Fiberon, LLC, Green Bay Decking, LLC, Tamko Building Products, Inc., UPM Kymmene Corporation, and Universal Forest Products, Inc.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.