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. According to the report published by Allied Market Research, the global composite decking and railing market was estimated at $2.63 billion in 2020 and is expected to hit $9.18 billion by 2030, registering a CAGR of 12.6% from 2021 to 2030.
Increasing need for beautification of buildings and emergence of high quality fabric material drive the growth of the global composite decking and railing market. On the other hand, certain harsh weather conditions impede the growth to some extent. However, rapid urbanization of developing countries is anticipated to create lucrative opportunities in the industry.
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The global composite decking and railing market is analyzed across type, application, resin type, composition, product type, and region.
By type, the uncapped segment held the highest market share in 2020, holding more than three-fifths of the global market. The capped segment, however, is projected to manifest the fastest CAGR of 13.0% from 2021 to 2030.
By application, the residential sector segment contributed to the major share in 2020, accounting for nearly two-thirds of the global market, and is expected to lead the trail during the forecast period. Simultaneously, the non-residential sector segment is anticipated to cite the fastest CAGR of 13.3% from 2021 to 2030.
By region, North America held the highest market share in terms of revenue 2020, garnering more than two-fifths of the global market. LAMEA, on the other hand, is projected to showcase the fastest CAGR of 14.0% throughout the forecast period.
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Top Players:
The key market players analyzed in the global composite decking and railing market report include Fortress Building Products, (Fiberon), Genova Products Inc., Axion Structural Innovations LLC, Green Bay Decking, Shanghai Seven Trust Industry Co., Ltd, Fortune Brands Home & Security, Inc., The AZEK Company Inc. (TimberTech), UPM, Trex Company, Inc., and UFP Industries, Inc. These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.
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.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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