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Plastic Lumber Market Size to Reach USD $11.5 Billion, Globally, By 2030 at CAGR of 6.90 % – IndustryARC

Increased usage of plastic lumber in new construction activities, increased penetration in decking applications, and increased expenditure on residential renovation are key factors driving growth in the plastic lumber market.

Plastic Lumber Market size is valued at $5.3 billion in 2022 and is expected to reach a value of $11.5 billion by 2030 at a CAGR of 6.90% during the forecast period 2023-2030. Plastic lumber is a versatile building material made from recycled plastics, typically high-density polyethylene (HDPE) or a combination of various plastic types. It serves as an eco-friendly alternative to traditional wood lumber, offering several key properties and benefits.

Plastic lumber is highly durable and resistant to rot, decay, and insect infestations, making it ideal for outdoor applications such as decking, fencing, and outdoor furniture. Its longevity far surpasses that of natural wood, reducing the need for frequent replacements. Moreover, plastic lumber is impervious to moisture, preventing swelling or warping, and it can withstand harsh weather conditions, including UV exposure, without fading or deteriorating.

It is environmentally friendly as it diverts plastic waste from landfills, reducing the ecological footprint. It requires minimal maintenance, doesn’t require painting or staining, and is easy to clean. In addition, plastic lumber is available in various colors and textures, providing design flexibility. It also contributes to sustainable forestry practices by reducing the demand for timber. With growing environmental concerns surrounding traditional lumber production and plastic waste, governments globally are increasingly implementing stringent regulations to curtail deforestation and reduce plastic pollution. These regulations often mandate the use of sustainable and eco-friendly alternatives like plastic lumber in construction and landscaping projects. Simultaneously, governments are offering incentives and subsidies to promote the adoption of plastic lumber, incentivizing businesses, and consumers to choose this eco-conscious option.

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Plastic Lumber Market Current and Future Trends:

Growing Demand for Sustainable Building Materials: There is an increasing preference for environmentally friendly building materials, driven by concerns about deforestation, carbon emissions, and plastic waste. Plastic lumber, made from recycled plastics or virgin polymers, is gaining popularity as a sustainable alternative to traditional wood lumber.

Regulatory Support for Sustainable Construction: Governments and regulatory bodies are implementing policies and building codes that encourage the use of sustainable construction materials. Incentives, tax breaks, and green building certifications promote the adoption of plastic lumber and other eco-friendly building products.

Expansion of Construction and Infrastructure Projects: The construction industry’s growth, particularly in residential, commercial, and infrastructure sectors, is driving demand for building materials, including plastic lumber. Urbanization, population growth, and infrastructure development projects contribute to the increased use of plastic lumber in decking, fencing, landscaping, and structural applications.

Advancements in Material Technology: Manufacturers are investing in research and development to enhance the performance and aesthetics of plastic lumber products. Innovations in polymer formulations, extrusion processes, and surface treatments result in improved durability, colorfastness, weather resistance, and texture, making plastic lumber more appealing to consumers and contractors.

Customization and Design Flexibility: Plastic lumber offers design flexibility, allowing architects, designers, and homeowners to create customized outdoor spaces and structures. The availability of a wide range of colors, sizes, profiles, and textures enables creative applications in decking, railing, pergolas, furniture, and other outdoor amenities.

Longevity and Low Maintenance Requirements: Plastic lumber is valued for its durability and low maintenance characteristics. Unlike traditional wood lumber, plastic lumber is resistant to rot, decay, mold, termites, and moisture damage. Its longevity and minimal upkeep requirements make it an attractive choice for outdoor applications, especially in harsh climates.

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Plastic Lumber Market Report – Scope:

The Plastic Lumber Market has been segmented By Product Type, By Resin Type, By application and By Geography. The report provides insights into the market dynamics, including market drivers and challenges. And Plastic Lumber Market with top country data and analysis. The report also highlights the market potential, growth rates, and alternative relevant statistics.

The competitive landscape section features company profiles of major players such as Trex, Fiberon, Tangent Technologies, Genova and Plasteak. This report is a valuable source of guidance and direction for companies and individuals interested in the Plastic Lumber Market.

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The top 10 players in the Plastic Lumber Market are:

  1. Trex Company, Inc.
  2. Fiberon
  3. TANGENT Technologies, LLC.
  4. Genova Products, Inc.
  5. PlasTEAK, Inc. and PlasDECK, Inc.
  6. American Recycled Plastic, Inc.
  7. KWK Plastic Lumber Co., Ltd.
  8. Ecoville
  9. CMI
  10. Repeat Plastics Australia Pty Ltd. and others.

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