PUBLISHER: KBV Research | PRODUCT CODE: 1450652
PUBLISHER: KBV Research | PRODUCT CODE: 1450652
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.
By Resin Type Analysis
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.
By Application Analysis
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.
By Product Analysis
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.
By Regional Analysis
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.
Recent Strategies Deployed in the Market
List of Key Companies Profiled
Global Plastic Lumber Market Report Segmentation
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)
"TABLE 209Europe Plastic Lumber Market, 2019 - 2022, USD Million