Composite Decking & Railing Market Growth is projected to be at a CAGR of 13.4% by 2030
“The global Composite Decking & Railing Market size is expected to grow at more than 13.4% CAGR from 2023-2030 & to reach above USD 8.54 billion by 2030 from a little above USD 4.15 billion in 2023.”
Composite decking and railing serve as an addition to a home or place of business while offering security and safety. Composite decking and railing come in a variety of materials, hues, patterns, and styles.
They have become increasingly popular in the business sector, where it is important to enhance the outside space and give the building's front and backyard a distinctive feel. In order to attract clients, PVC coated fabric composite decking and railings have been introduced to the market. It is hoped that these products will be of a higher calibre.
These factors fuel the market for composite decking and railing.
Competitive Landscape of the Composite Decking & Railing Market
Key competitors from both domestic and international markets compete fiercely in the worldwide global composite decking & railing industry are Trex Company Inc., UPM Biocomposites, TAMKO Building Products Inc., TimberTech, Integrity Composites LLC, Green Bay Decking LLC, Fiberon LLC, Axion International Inc., Envision Building Product LLC, Cali Bamboo LLC.
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Customization and personalization for improved aesthetics are creating attractive chances for the market expansion of composite decking and railing.
With so many different design possibilities, textures, and colours available in composite decking and railing, customers can make customised outdoor spaces that match their tastes. Manufacturers are constantly coming up with new ways to emulate wood's natural appearance while offering improved performance qualities.
More and more buyers are looking for goods that let them show their individuality and design distinctive living places. By providing numerous customisation options for composite decking and railing, including distinctive colours, textures, patterns, and sizes, manufacturers may take advantage of this potential.
Giving customers the option to customise their outside environments can help products stand out and appeal to a range of consumer preferences.
A high cost, limited colour fade resistance, lack of authenticity will limit composite decking and railing market expansion.
Composite decking and railing products often have a higher initial cost compared to traditional wood materials. The upfront investment required to purchase and install composite materials can be a deterrent for budget-conscious consumers, especially when compared to the relatively lower cost of wood products.
Although composite materials are generally more resistant to colour fading compared to wood, prolonged exposure to intense sunlight can cause some degree of colour change or fading. This limitation can deter potential customers who prioritize colour stability in their outdoor spaces.
While composite materials aim to replicate the appearance of natural wood, some consumers still prefer the authentic look and feel of real wood. This preference can lead to a portion of the market choosing traditional wood decking and railing options over composite alternatives.
The composite decking and railing industry has been greatly impacted by the COVID-19 pandemic's repercussions on the global economy.
The outbreak of COVID-19 resulted in widespread disruptions across industries, including construction and home improvement. Lockdown measures, supply chain disruptions, and construction site closures led to temporary disruptions in the composite decking and railing market.
Manufacturing facilities faced challenges such as labour shortages, reduced production capacities, and logistic constraints, affecting the availability of products. COVID-19 led to a shift in consumer preferences, with a greater emphasis on outdoor living spaces. Homeowners sought to create functional and aesthetically pleasing outdoor areas for relaxation and entertainment, as indoor gatherings were limited.
Composite decking and railing, with their low maintenance and durability, presented an attractive solution for creating outdoor spaces, which may have contributed to increased demand. With many people spending more time at home and looking for activities to engage in, do-it-yourself (DIY) projects gained popularity during the pandemic.
Composite decking and railing, with their relatively easy installation and low-maintenance nature, were well-suited for DIY enthusiasts. This trend likely drove demand in the market as consumers sought to upgrade their outdoor spaces independently.
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