The North America Plastic Lumber Market would witness market growth of 10.8% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 780.5 kilo tonnes, showcasing a growth of 8.9% (2019-2022).
The plastic lumber market looks at potential as it keeps changing in response to the growing need for environmentally friendly building materials, legislative demands, and technical breakthroughs. With the focus on environmental preservation and the rise of the circular economy, it will be essential to the shift to more environmentally friendly building methods. Innovations in material science, composite formulations, and manufacturing processes drive the development of high-performance plastic lumber products with enhanced durability, strength, and design flexibility.
One of the primary drivers behind adopting plastic lumber is its environmental sustainability. Unlike traditional wood lumber, which often requires the harvesting of trees and contributes to deforestation, it is typically made from recycled plastic materials. It helps keep plastic waste out of landfills and lowers the need for virgin plastic, protecting natural resources and lowering pollution levels.
Increasing PET bottle recycling in Mexico provides a growth environment for the market. As per the International Trade Administration (ITA), Mexico is recognized as a leader in North America regarding polyethylene terephthalate (PET) recycling and recovers 59 percent of PET bottles intended for recycling circulated in the market. As recycling efforts continue to expand and evolve, the market stands to benefit from increased access to recycled materials and growing consumer demand for sustainable products. Therefore, the region's high plastic production and increasing PET bottle recycling propel the market's growth.
The US market dominated the North America Plastic Lumber Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $2,399.1 million by 2030. The Canada market is experiencing a CAGR of 13.2% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 12.3% during (2023 - 2030).
Free Valuable Insights: The Plastic Lumber Market is Predict to reach $11.8 Billion by 2030, at a CAGR of 11.0%
Based on Resin Type, the market is segmented into Polyethylene, Polyvinyl Chloride, Polystyrene, and Others. Based on Application, the market is segmented into Decking, Molding Trim, Landscaping Outdoor Products, Fencing, Windows Doors and Others. Based on Product, the market is segmented into Virgin Plastic, Recycled Plastic and Composite. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
By Resin Type (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Product (Volume, Kilo Tonnes, USD Billion, 2019-2030)
By Country (Volume, Kilo Tonnes, USD Billion, 2019-2030)
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