Global Plastic Lumber Market Size, Share & Trends Analysis Report By Resin Type (Polyethylene, Polyvinyl Chloride, Polystyrene, and Others), By Application, By Product, By Regional Outlook and Forecast, 2023 - 2030

Global Plastic Lumber Market Size, Share & Trends Analysis Report By Resin Type (Polyethylene, Polyvinyl Chloride, Polystyrene, and Others), By Application, By Product, By Regional Outlook and Forecast, 2023 - 2030

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

• Feb-2023: Trex Company, Inc. launched Trex Signature® Decking, an offering of durable, low-maintenance composite boards designed for high-performance outdoor spaces. Trex Signature embodies the authentic appearance of indoor hardwoods while being engineered to endure outdoor elements and requirements, pioneering a new standard in composite decking by introducing an unprecedented level of realism to wood plastic composites (WPC).
• Nov-2022: Fiberon LLC came into partnership with Hixson Lumber, a leading supplier of quality lumber products, known for its reliability and commitment to customer satisfaction. Through this partnership, Fiberon would be able to expand its footprint across Texas, Louisiana, Arkansas, and Oklahoma. Presently, Hixson Lumber would supply pressure-treated lumber for deck framing, enabling dealers to obtain all materials from a single source.
• Oct-2022: Fiberon LLC signed a partnership with Huttig Building Products, a leading distributor of millwork, building materials, and wood products in the United States. Through this partnership, Fiberon would be able to bolster its ongoing expansion within the outdoor living sector, substantially broadening the company's distribution across the Southeast region of the United States via Huttig.
• Sep-2022: Fiberon LLC introduced Wildwood composite cladding, an offering that provides both durability and aesthetic appeal for exterior applications. Wildwood composite cladding offers unmatched beauty and the warmth of wood, coupled with the durability of high-performance, low-maintenance materials, it presents an open-joint profile and comes in diverse board lengths and widths to enhance design flexibility.
• Mar-2020: Tangent Technologies, LLC took over Bedford Technology, a company that specializes in manufacturing structural recycled plastic lumber for a wide range of applications, providing durable and sustainable solutions for various industries. Through this acquisition, Tangent would be able to expand its facility presence throughout North America and develop one of the foremost organizations in alternative material innovation, enhancing value for our customers.

List of Key Companies Profiled

• 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.

Global Plastic Lumber Market Report Segmentation

By Resin Type (Volume, Kilo Tonnes, USD Billion, 2019-2030)

• Polyethylene
• Polyvinyl Chloride
• Polystyrene
• Others

By Application (Volume, Kilo Tonnes, USD Billion, 2019-2030)

• Decking
• Molding Trim
• Landscaping Outdoor Products
• Fencing
• Windows Doors
• Others

By Product (Volume, Kilo Tonnes, USD Billion, 2019-2030)

• Virgin Plastic
• Recycled Plastic
• Composite

By Geography (Volume, Kilo Tonnes, USD Billion, 2019-2030)

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Singapore
• Malaysia
• Rest of Asia Pacific
• LAMEA
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA