Global Composite Steel & Decking Market Report 2021: Asia Pacific Region Experiencing Rapid Growth, Strong Construction Activity Making China & India Markets Profitable

Dublin, November 24, 2021– (work wire)–The “Decking and Composite Barriers – Global Market Path and Analysis” Report added to ResearchAndMarkets.com an offer.

Global Composite Steel & Decking Market Will Reach $6.5 Billion By 2026

Amidst the COVID-19 crisis, the global decorative and iron composite market of $2.9 billion in 2020, is expected to reach a revised size of $6.5 billion by 2026, at a compound annual growth rate of 14.1% during the analysis period.

Capped Composites, one of the sectors analyzed in the report, is expected to grow at a compound annual growth rate of 14.6% to reach $5.4 billion by the end of the analysis period. After a comprehensive analysis of the commercial implications of the epidemic and the resulting economic crisis, the growth in the non-covered vehicle segment was readjusted to a compound annual growth rate of 12.8% for the next seven years. This segment currently accounts for 28.5% of the global market share for the iron and decking industry.

The US market size is estimated at $1 billion in 2021, while China is expected to reach $1.1 billion by 2026

The composite iron and decking market in the United States is estimated to be around US$1.0 billion in 2021. The country currently accounts for 32.3% of the global market share. China, the world’s second largest economy, is expected to reach an estimated market size of US$1.1 billion in 2026, outpacing a compound annual growth rate of 18.9% during the analysis period.

Other noteworthy geographic markets include Japan and Canada, both of which are expected to grow at 11.3% and 13.2% respectively during the analysis period. Within Europe, Germany is expected to grow at a compound annual growth rate of approximately 12.8% while the rest of the European market (as defined in the study) will reach US$1.3 billion by the end of the analysis period.

The major growth drivers of the market include recovery in the worldwide construction industry and technological advancement. Homeowners are increasingly choosing composite decking and partition systems over systems made of natural wood because of the former’s many beneficial features including low thermal expansion, color fading, and high slip resistance among others.

Composite decking is increasingly popular over wood due to its attractive benefits, primarily lower maintenance and enhanced aesthetic appeal. Composite decking and partition systems combine the advantages of plastic, including ease of care and low maintenance, with the aesthetics of wood. It is a combination of photovoltaic and recycled wood providing an elegant structure that is both durable and strong. While these products use different materials and manufacturing methods, they are highly rated for added value and visual appeal.

Furthermore, many manufacturers are introducing new, affordable product lines to extend their gains over traditional wood options. The influx of new and economical composite decking is narrowing the price premium over wood, which is likely to boost market growth over the coming years. The market is poised to benefit from access to diverse finishing and color options, along with increased investment by homeowners in remodeling or renovation projects.

Main topics covered:

I. METHODOLOGY

Secondly. Executive Summary

1. Market Overview

  • Introduction to Composite Iron and Decking Market

  • Advantages of Composite Decking

  • various types

  • The impact of Covid-19 and the looming global recession

  • 2020 is a year of turmoil and transformation

  • The race between the virus and vaccines intensifies. In the midst of this chaotic battle, where is the global economy heading in 2021?

  • So how fast or slow do you move?

  • Progress in vaccinations, why should companies care?

  • With the IMF’s upward revision of the 2021 global GDP forecast, most companies are optimistic about the return of the global economy.

  • The global construction industry bears the brunt of COVID-19

  • Recovery in US residential construction activity to drive market growth

  • Impact of COVID-19 on selected regional construction sectors

  • Asia

  • Canada

  • Australia

  • United kingdom

  • Africa

  • Middle east

  • Impact of COVID-19 on the decking and composite iron market

  • Home Improvement Projects and DIY Interest Stimulating Demand for Composite Decking Amid COVID-19

  • Global market overview and market prospects

  • The global market for decking and railing systems is set for rapid gains in the future

  • Composite Decking Market Rise Big on Low-Maintenance and Green Credentials

  • Covered decking leads the market, and is set to make big gains

  • Polyethylene is the main resin

  • Regional Market Analysis

  • The United States leads the global composite market for iron and decorative materials

  • American decorating market trends

  • Rapid growth and construction activity in the Asia Pacific region makes China and India profitable

  • Developing countries are emerging as future growth hotspots

  • Contest

  • Some famous brands of decking and railings

  • Trix

  • TimberTech (AZEK)

  • Cali Bamboo

  • Dora Live

  • Composite wood visualization

  • Recent market activity

  • Select international brands

2. Focus on identifying players (56 featured total)

  • Advanced Environmental Recycling Technologies, Inc.

  • Axion Structural Innovations LLC

  • DuraLife decking and handrail systems

  • fibron

  • Green Bay Decking LLC

  • TAMKO Building Products, Inc.

  • Timber Tech

  • Trex Co., Inc.

  • Universal Forest Products, Inc.

  • Upm Biocomposites

3. Market trends and drivers

  • Increasing shift towards natural wood decking and partitions is driving market growth

  • Rising timber prices increase the popularity of composite decking

  • Composite decking as a good alternative to wooden decks

  • Composite decking makers focus on reducing timber sales with better options

  • Composite railing and decking are gaining in popularity among homeowners

  • Customers seek more storied functions

  • Added value at an affordable price

  • Building relationships with remodeling contractors

  • Serious efforts by composite sellers to drive participation

  • Recent hacks are making composite decking a cooler option for homeowners

  • Composite compound with cooler surfaces

  • Custom surface finishes – a new trend

  • Multi-width composite decking boards

  • Affordable synthetic decking

  • Hollow decking boards are gaining in popularity

  • Innovative railing systems suitable for composite floors

  • Innovative products expand the addressable market

  • Technological advances enhance functional and design features

4. Global market perspective

Third. Regional Market Analysis

Fourthly. Competition

For more information about this report visit https://www.researchandmarkets.com/r/1ctyrn

View the source version on businesswire.com: https://www.businesswire.com/news/home/20211124005891/ar/

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