Plastic Lumber Market: Overview
- Plastic lumber is a type of timber manufactured with the use of recycled or virgin plastic. It does not include wood fiber or flour. It is manufactured from 100% plastic material.
- Plastic lumber is a sustainable, non-toxic, and environment-friendly substitute to conventional lumber. Advantages of plastic lumber include corrosion resistance, moisture resistance, and no color fading and material degradation. It can be easily cleaned with soap and water.
- Plastic lumber requires less or no maintenance. It is long lasting; resistant to salt & acids; and unaffected by marine parasites, termites, rodents, or any other insects. Furthermore, it does not release any toxins into the marine or soil ecology.
- Plastic lumber is used in a wide range of applications such as fencing, decking, molding, windows, doors, and landscaping products
Key Drivers of Plastic Lumber Market
- The global plastic lumber market is anticipated to expand at a significant pace during the forecast period
- Rise in applications of plastic lumber in construction activities, increase in usage of plastic lumber in decking applications, and growth in residential renovation activities are key factors driving the global plastic lumber market
- Ongoing research and technologic advancements to develop high-performance applications and advanced technologies are augmenting the demand for plastic lumber in various applications
- Rapid urbanization and industrialization in emerging economies is expected to drive the construction industry. This, in turn, is anticipated to boost the demand for plastic lumber.
- Higher prices of plastic lumber compared to those of conventional wood lumber is estimated to hamper the global plastic lumber market
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Recycled Plastic Segment to Offer Lucrative Opportunities for Global Plastic Lumber Market
- Based on raw material, the global plastic lumber market can be divided into virgin plastic, recycled plastic, and composite
- Recycled plastic is projected to be the dominant segment of the global plastic lumber market during the forecast period. It is likely to be followed by composite and virgin plastic segments.
- Recycled plastic is highly preferred raw material for plastic lumber due to its low price than other raw materials. Recycled plastic used in lumber manufacturing is a blend of post-consumer or post-industrial regrind, which usually gets disposed of in landfills.
Global Plastic Lumber Market, by Resin Type
- Based on resin type, the global plastic lumber market can be segregated into polyethylene, polyvinyl chloride (PVC), polystyrene (PS), and others
- Polyethylene is anticipated to be the dominant segment of the global plastic lumber market during the forecast period, followed by polyvinyl chloride (PVC), polystyrene (PS), and others
- Polyethylene resin based plastic lumber is one of the highly common plastic lumbers. It is highly durable, moldable, and a strong material.
Significant Opportunities for Plastic Lumber in Decking Application
- Based on application, the global plastic lumber market can be classified into decking; molding & trim; landscaping & outdoor products; and others
- Decking is anticipated to be the dominant segment of the global plastic lumber market during the forecast period. It is estimated to be followed by molding & trim; landscaping & outdoor products; and others segments.
- The molding & trim segment is projected to expand at a rapid pace during the forecast period. Plastic lumbers are easy to shape compared to conventional lumber and engineered wood.
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North America to be Key Region of Plastic Lumber Market
- In terms of region, the global plastic lumber market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America is expected to be the major region of the plastic lumber market during the forecast period, led by the presence of prominent plastic lumber manufacturers and increase in demand for decking and other applications
- The market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period owing to the rise in infrastructure development and growth in residential construction in countries such as China and India
Key Manufacturers in Market
The market was fragmented in 2018. Expansion, new product launch, partnership, and new technology development are the key strategies executed by key players to increase their share in the global plastic lumber market.
Key manufacturers operating in the global plastic lumber market include:
- Advanced Environmental Recycling Technologies Inc.
- Aeolian Enterprises Inc.
- American Recycled Plastic Inc.
- Bedford Technology LLC
- Century-Board USA, LLC
- Engineered Plastic Systems LLC
- Genova Products Inc.
- KWK Plastic Lumber Co., Ltd.
- Tangent Technologies, LLC
- Trex Company, Inc.
Global Plastic Lumber Market: Research Scope
Global Plastic Lumber Market, by Raw Material
- Virgin Plastic
- Recycled Plastic
Global Plastic Lumber Market, by Resin Type
- Polyvinyl Chloride (PVC)
- Polystyrene (PS)
Global Plastic Lumber Market, by Application
- Molding & Trim
- Landscaping & Outdoor Products
- Others (windows, doors, fencing, etc.)
Global Plastic Lumber Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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.