The composite decking and railing market size was valued at $2.6 billion in 2020, and is expected to reach $9.2 billion by 2030, registering a CAGR of 12.6% from 2021 to 2030. Decking & railing is the process of installation of flooring and safety rails, generally outside the house, using materials, such as polypropylene and polyethylene, to enhance the beauty of buildings.
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The composite decking and railing is driven by factors such as increase in trend for beautification of buildings and rise in spending capacity of people and living a luxurious life. In addition, advancement in material has led to use of strong and durable materials to build the decks and railing. However, harsh weather, such as high heat and storm, can loosen the integrity of the composite material as well as the frame it is installed on, which, in turn, fails to last long and breaks earlier. This acts as a restraining factor for the growth of the composite decking and railing. Moreover, outbreak of the COVID-19 has led to a halt in logistics and manufacturing activities across the globe, which, in turn, led to interruption of supply chain, thereby hindering the composite decking and railing market growth. However, this situation is expected to improve as governments have started relaxing norms around the world for resuming business activities.
Furthermore, emerging countries in Asia-Pacific and LAMEA such as Brazil, India, China, and others are rapidly urbanizing and a lot of new construction is being carried out. Moreover, the spending capacity on beautification of buildings is gradually rising in these countries. This acts as an opportunity for the growth of composite decking and railing market share during the forecast period.
The composite decking and railing market analysis is segmented into type, application, resin type, composition, product type, and region. By type, the market is segregated into capped and uncapped. By application, it is divided into residential sector and non-residential sector. On the basis of resin type, it is classified into polypropylene and polyethylene. Compositions covered in the study include new solid and hollow. On the basis of product type, it is bifurcated into decking and railing. Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, and the rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and the rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
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Key Findings Of The Study
- By type, the uncapped segment was the highest revenue contributor in 2020.
- On the basis of application, the residential sector segment was the highest revenue contributor in 2020.
- By resin type, the polyethylene segment dominated the composite decking and railing market trends in 2020.
- Depending on composition, the solid segment acquired the leading position in 2020.
- By product type, the decking segment dominated the market in 2020.
- North America generated the highest revenue in 2020.
Leading Players:
The major players profiled in the research include Axion Structural Innovations LLC, Fortress Building Products, Fortune Brands Home & Security, Inc. (Fiberon), Genova Products Inc., Green Bay Decking, Shanghai Seven Trust Industry Co., Ltd, The AZEK Company Inc. (TimberTech), Trex Company, Inc., UFP Industries, Inc. and UPM. Major companies in the market have adopted product launch and business expansion as their key developmental strategies to offer better products and services to customers in the composite decking and railing industry
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