“Global Plastic Lumber Market to reach a market value of USD 11.8 Billion by 2030 growing at a CAGR of 11.0%”
The Global Plastic Lumber Market size is expected to reach $11.8 billion by 2030, rising at a market growth of 11.0% CAGR during the forecast period. In the year 2022, the market attained a volume of 3,586.3 kilo tonnes, experiencing a growth of 9.1% (2019-2022).
Plastic lumber fencing offers design versatility with various styles, colors, and textures. Thus, the fencing segment acquired $756.4 million revenue in 2022. Plastic lumber fences can replicate the look of traditional wood fences or offer contemporary designs, allowing homeowners and businesses to enhance the appearance of their properties.
Plastic lumber is highly resistant to environmental elements such as moisture, rot, mold, mildew, and insects. This reliability makes it a preferred choice for applications with paramount structural integrity and safety. Therefore, plastic lumber's high durability and longevity are driving the market's growth.
Additionally, the demand for eco-friendly building materials is rising due to growing awareness of environmental challenges and the necessity of sustainable practices. As awareness of plastic pollution and climate change grows, consumers are more inclined to choose products made from recycled materials. Hence, the rising demand for recycled materials propels the market's growth.
However, Plastic lumber often has a higher upfront cost compared to traditional wood lumber. This initial cost barrier can deter consumers, contractors, especially if they perceive wood lumber as a more affordable option for their construction or landscaping projects. Therefore, the high initial cost of plastic lumber is impeding the market's growth.
Based on application, the plastic lumber market is divided into molding trim, fencing, landscaping outdoor products, windows, doors, decking, and others. The molding trim segment attained a substantial 26.1% revenue share in the plastic lumber market in 2022. This low maintenance requirement appeals to homeowners and builders seeking hassle-free exterior trim solutions.
On the basis of the product, the plastic lumber market is segmented into virgin plastic, recycled plastic, and composite. The virgin plastic segment recorded 45.4% revenue share in the plastic lumber market in 2022. In applications where strength, longevity such as structural components and high-traffic areas, virgin plastic is preferred to ensure optimal performance and reliability.
Based on resin type, the plastic lumber market is categorized into polyethylene, polyvinyl chloride, polystyrene, and others. In 2022, the polyethylene segment registered 44% revenue share in the plastic lumber market. LDPE resin may be utilized for applications that require flexibility and impact resistance, such as plastic lumber boards and profiles.
Free Valuable Insights: Global Plastic Lumber Market size to reach USD 11.8 Billion by 2030
Region-wise, the plastic lumber market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Europe region witnessed a 39% revenue share in the plastic lumber market in 2022. Also, plastic lumber, particularly those made from recycled materials, aligns well with Europe's sustainability goals by reducing reliance on virgin resources and diverting plastic waste from landfills.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 5.1 Billion |
| Market size forecast in 2030 | USD 11.8 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 11.0% from 2023 to 2030 |
| Number of Pages | 347 |
| Number of Table | 770 |
| Quantitative Data | Volume in Kilo Tonnes, Revenue in USD Billion, and CAGR from 2019 to 2030 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Resin Type, Product, Application, Region |
| Country scope |
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| Companies Included | Trex Company, Inc., American Recycled Plastic, Inc., Tangent Technologies, LLC, KWK Plastic Lumber Co., Ltd., Repeat Plastics Australia Pty Ltd. (Recycle technology (Aust.) Pty Ltd.), Ecoville, CMI Limited Co. (Capital Partners), PlasTEAK, Inc., Fiberon LLC (Fortune Brands Innovations, Inc.), Genova Products Inc. |
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 Geography (Volume, Kilo Tonnes, USD Billion, 2019-2030)
This Market size is expected to reach $11.8 billion by 2030.
High durability and longevity of plastic lumber are driving the Market in coming years, however, High initial cost of plastic lumber products restraints the growth of the Market.
Trex Company, Inc., American Recycled Plastic, Inc., Tangent Technologies, LLC, KWK Plastic Lumber Co., Ltd., Repeat Plastics Australia Pty Ltd. (Recycle technology (Aust.) Pty Ltd.), Ecoville, CMI Limited Co. (Capital Partners), PlasTEAK, Inc., Fiberon LLC (Fortune Brands Innovations, Inc.), Genova Products Inc.
In the year 2022, the market attained a volume of 3,586.3 kilo tonnes, experiencing a growth of 9.1% (2019-2022).
The Decking segment is leading the Market by Application in 2022; there by, achieving a market value of $3.6 billion by 2030.
The Europe region dominated the Market by Region in 2022, and would continue to be a dominant market till 2030; there by, achieving a market value of $4.3 billion by 2030.
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