Rolled vinyl decking market Size Expected to Reach $11.0 Billion by 2030—Allied Market Research

According to a new report published by Allied Market Research, titled, "Global rolled vinyl decking market by application and by End Use: Global Opportunity Analysis and Industry Forecast, 2020-2030," the global rolled vinyl decking market was valued at $4.3 billion in 2020, and is projected to reach $11.0 billion by 2030, with a CAGR of 9.9% from 2021 to 2030.

Increase in disposable income and change in lifestyles have raised the demand for goods and services in developing countries across the globe. Reduction of transportation cost has positively impacted the development of commercial and industrial real estate market and has increased the number of manufacturing hubs in various sectors such as automotive, consumer goods, energy, and power, thus resulting in the establishment of warehouses, corporate office, and large-scale factories. In 2018, the U.S. spent nearly $302 billion on new public construction, in addition to this there is a 40% increase in average area of the U.S. houses and 15% decrease in average number of occupants in U.S. households. In 2021, 11% of Canadian homeowners spent over $21,000 on household renovations.

The EU Commission has implemented renovation waver strategy to enhance the quality of life for the people living in the poorly performing building since 2021. In addition to this, the China State Council started to renovate more than 39,000 old urban residential areas which benefits more than seven million households. India is a rapidly developing country where construction sector is developing widely and the presence of excess revenue led to investment in the construction of residential households and other architectural building. The implementation of Programme of Investment Partnerships to expand and strengthen the relationship between public and the private sector through partnership contracts is a major driving factor of the rolled vinyl decking market. 

The rolled vinyl decking market is segmented on the basis of application, end use, and region.

On the basis of application, the rolled vinyl decking market is categorized into sun decks, porches & patios, roof decks, floating deck systems, and others. By end use, it is segregated into residential, commercial, and industrial.

Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, Asia-Pacific accounts for the largest share of the market, followed by Europe and Asia-Pacific.

The major companies profiled in this report include Armor decking, Bradbury Co., Inc, Duradek, Dec-k-ing, Dec-Tec, DekSmart, Tufdek, Weatherdek, and Intelli Deck. Additional growth strategies such as expansion of production capacities and research & innovation in the vinyl decking product are adopted to attain key developments in the rolled vinyl decking market.

Impact Of Covid-19 On The Global Rolled Vinyl Decking Market

• COVID-19 pandemic has negatively impacted the Global rolled vinyl decking market drastically.
• The pandemic has affected various industries and caused global economic slowdown. However, owing to the global economic crisis caused by the pandemic, consumers are only willing to invest in essential goods and services.
• The COVID-19 pandemic has changed consumer preference and buying behavior significantly. Lockdowns imposed by several governments in the current crisis have suspended construction activities temporarily, delaying new construction projects and renovation of houses, which hampers demand for rolled vinyl decking during the pandemic period.
• The pandemic has also affected supply chains and disrupted manufacturing operations.
• Increase in fluctuation of the market price of petroleum feedstock and decline in demand for the global rolled vinyl decking in the construction industry hamper the market growth.

Key findings of the study

• Region wise, Asia-Pacific is projected to witness growth at the highest CAGR in terms of revenue, during the forecast period.
• As per global rolled vinyl decking market analysis, by application, the roof decks segment accounted for the largest share in 2020.
• On the basis of end use, the residential segment was the major share contributor in 2020.