Global composite decking & railing market to grow US$3.09 bln by 2020, at CAGR of 12.6%

The global composite decking & railing market is projected to grow from US$1.7 bln in 2015 to US$3.09 bln by 2020, at a compound annual growth rate (CAGR) of 12.60% from 2015 to 2020, as per Markets and Markets. Composite decking & railing products are utilized in large volumes due its superior features as compared to natural wood decking & railing products. The increase in the demand of low maintenance building products, the recovery of the U.S. residential market and availability of new innovative products are the factors driving the composite decking & railing market. The major forces driving the composite decking & railing market are replacement of traditional materials with uncapped and capped composite decking & railing products. These products offer superior properties including resistance to rotting, color fading, mold and mildew growth formation. Uncapped composite decking & railing, being on a higher price range as compared to timber decking & railing, offers less maintenance with low cost in the long run. Capped composites are wood plastic composites which have a resin protective layer attached to the wooden core. This protective resin layer helps in prevention of rotting, splintering, mildew and mold growth formation. The non-residential application will be the fastest growing market segment during the forecast period in the composite decking & railing market. The non-residential application of composite decking & railing includes docks, marinas, public boardwalks, commercial establishment patios and flooring, among others. Capped composites are utilized in large volumes where the decking & railing is always in contact with water. For instance, dock and marina decks, which are always in contact with water, uses capped composites on a large scale. Capped composite, being water proof in nature due the presence of resin protective layer, prevents splintering, rotting, and mold and mildew growth formation. The U.S. contributes a major market share in the Global as well as North American composite decking & railing market. The recovery of the U.S. residential market after the 2008 recession, and the increasing demand of low maintenance building products are some of the factors driving the composite decking & railing market inNorth America. The major players in the composite decking & railing market include Trex Company, Inc. (U.S.), TimberTech (U.S.), Fiberon LLC (U.S.), Advanced Environmental Recycling Technologies, Inc. (U.S.), UPM Biocomposites (Finland)