Composite Decks and Railings Market Analysis | 2021-2026

Market Insights

The composite decks and railings market was estimated at USD 3.0 billion in 2020 and is likely to grow at a CAGR of 5.4% during 2021-2026 to reach USD 4.2 billion in 2026.

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Market Dynamics

Composite decking is a man-made construction material composed of an approximately equal combination of recycled wood fibers and recycled plastics. Composite decking products have a significantly longer lifespan than wood decks since they are so sturdy and rot-resistant. Composite Decking is made of two types: Capped Composite and Uncapped Composite. Capped composite decking is a type of wood plastic composite (WPC) product with a surface layer and a core layer made of functional plastics (mostly HDPE and PP) and natural fiber (wood powder), with a certain number of additives (anti UV agent, antioxidant, coupling agent, lubricant, colorant, etc.) added and processed using specialized mixing and molding equipment.

A composite is defined as “a mixture of parts or substances.” Manufacturers use natural and synthetic elements to create composite decking. Wood fiber, virgin or recycled plastic, and chemical additives make up the majority of composite deck boards. Composite decking can be built of polypropylene, polyethylene, or completely nonwood polymers. Products made of polypropylene(PP) are more durable and less likely to expand and contract. Polyethylene(PE) has long service life as the most prevalent plastic used by composite makers because of its greater availability. Polyvinyl chloride (PVC) decks are constructed of plastics that do not discolor or absorb water and have no wood content. These are more expensive than wood, lighter than other composites, and usually do not contain any recycled material. Some composite decking is more fade-resistant than others, which is something that can be considered as well.

Unlike other construction markets, where the sudden outburst of the pandemic collapsed the demand across regions, here, in the composite deck and railings market, manufacturers represented uncharted territory with over 9.0% growth in 2020. The USA, the largest market, grew significantly during this trying time, mainly due to the increased demand for composite decks among existing homeowners. Homeowners are moving towards adopting greener products and increasing their activities in do-it-yourself (DIY) and outdoor living projects.

Furthermore, to boost the demand for composite decks and railings amid the pandemic, leading players have reduced the prices to make their products affordable. Major players have also raised their capacities in order to meet the growing demand.

Segment Analysis

By Product Type

"Deck segment accounted for the largest market share."

For ease of analysis, the composite decks and railings market is segmented into six types, namely Product Type, Decking Type, Resin Type, Application Type, Sales Type, and Region. Based on the product type, the market is segmented as Decks and Railings. Deck is expected to grow at a higher rate in the market during the forecast period since the decking products deliver various advantages, such as resistance to insects and molds, and low maintenance costs. Furthermore, as decking products are fade-resistant and offer stain resistance, it becomes convenient to clean them, and they also have high color retention.

By Decking Type

"The Capped Composites segment accounted for the largest market share."

The market is segmented into capped composites and uncapped composites. Capped Composites are expected to grow at a faster pace in the market during the forecast period owing to their characteristics, such as resistance to breakage, decomposition, mold & mildew growth, and color fading. Capped composites also deliver ultra-low maintenance costs and premium aesthetics against natural wood decking and railing products. They are extensively employed in residential and non-residential applications, owing to their physical properties.

By Resin Type

"The polyethylene segment accounted for the largest market share."

The market is segmented into polyethylene, polypropylene, polyvinyl chloride, and others. The polyethylene segment accounts for the largest market share of the composite decking and railings market. Polyethylene resin has elevated strength and sturdiness, which is suitable for residential applications, necessitating a joist 16 inches on center. Polypropylene is estimated to be the fastest-growing resin type during the forecast period. They confront thermal expansion & contraction, enabling them to be suitable in the manufacturing of composite decking & railings in elevated temperature regions.

By Application Type

"The residential segment accounted for the largest market share."

The composite decks and railings market is segmented as Residential and Non-Residential. Residential is estimated to be the fastest-growing segment during the forecast period. The characteristics presented by composite decking & railings, such as resistance to thermal expansion and contraction when exposed to sunlight and resistance to splintering & rot, are beneficial in application areas.

Regional Insights

"North America accounted for the largest market share."

North America is the largest procurer of composite decking & railing. In terms of country, the USA, Germany, and China are the growth engines of the global market. North America is likely to remain the largest procurer in the global market over the next five years, whereas Asia-Pacific is expected to grow at the fastest pace in the post-pandemic market developments. There has been an incessant increase in the penetration of composite decks & railings in the developed regions, mainly the USA.

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Key Players

Over the years, the market for composite decks and railings has been gradually consolidating with major companies performing mergers & acquisitions to gain the leading position in this briskly expanding market. For instance, in May 2011, the leading composite decking company, Iron Deck, was acquired by a leading composite deck manufacturer, Trex Company. Some of the major key players in the composite decks and railings market are listed below.

• Trex Company
• The Azek Company
• Fiberon LLC
• UPM BioComposites
• CertainTeed Ever New
• Guofeng WPC Ltd
• Barrette Outdoor Living
• Tamko Building Products Ltd
• Cali Bamboo
• DuraLife Decking and Railings

Note: The above list does not necessarily include all the top players of the market.

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Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s composite decks and railings market realities and future market possibilities for the forecast period of 2023 to 2028. After a continuous interest in our composite decks and railings market report from the industry stakeholders, we have tried to further accentuate our research scope to the composite decks and railings market to provide the most crystal-clear picture of the market. The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors

Market Segmentation

This report studies the market, covering a period of 12 years of trends and forecasts. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The composite decks and railings market is segmented into the following categories:

By Product Type

• Decks
• Railings

By Decking Type

• Capped Composite
• Uncapped Composite

By Resin Type

• Polyethylene
• Polypropylene
• Polyvinyl Chloride
• Others

By Application Type

• Residential
• Non-Residential

By Sales to End-User Type

• Dealers
• Builders/Contractors
• Home Improvement Retailers

By Sales to Manufacturer Type

• One-Step/Direct Distribution
• Two-Step Distribution

By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, India, and Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Argentina, and Others)

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respected clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected].