Rolled Vinyl Decking Market to Garner $11.0 Billion by 2030 | CAGR: 9.9%: AMR
Increase in renovation projects and demand for superior properties of vinyl-based products, rapid growth in commercial real estate, and properties of rolled vinyl decking like water resistance and thermal resistance fuel the growth of the global rolled vinyl decking market. Asia-Pacific contributed to the highest share in 2020, and is expected to continue its dominant share in terms of revenue by 2030. The construction activities were hindered due to lockdown measures taken during the Covid-19 pandemic and the demand for Rolled Vinyl Decking reduced.
Portland, OR, Jan. 20, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global *rolled vinyl decking market* generated $4.3 billion in 2020, and is estimated to generate $11.0 billion by 2030, witnessing a CAGR of 9.9% from 2021 to 2030. The report offers a detailed analysis of evolving market trends, value chain, top segments, key investment pockets, regional scenarios, and competitive landscape.
Increase in renovation projects and demand for superior properties of vinyl-based products, rapid growth in commercial real estate, and properties of rolled vinyl deckinglike water resistance and thermal resistance fuel the growth of the global Rolled Vinyl Decking market. However, the stringent regulations on vinyl-based compounds restrain the market growth. Contrarily, increase in the number of homeowners and rise in residential buildings present new opportunities in the next few years.
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*Covid-19 Scenario:*
· The government imposed lockdown in response to the Covid-19 pandemic has halted construction activity, delayed new construction projects and home renovations during the initial phase.
· However, consumers are willing to invest in basic products and services due to the worldwide economic crisis caused by the pandemic.
· The disrupted construction activities and supply chain, increased fluctuation in the market price of petroleum feedstock, and decline in demand for vinyl decking in the construction industry severely affected the market.The report offers detailed segmentation of the global rolled vinyl decking market based on end use, application, and region.
By application, the roof decks segment contributed to the highest share in 2020, accounting for more than one-fourth of the total market share, and is expected to maintain its lead during the forecast period. However, the floating deck systems segment is projected to witness the highest CAGR of 10.6 % from 2021 to 2030.
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Based on end use, the residential segment contributed to the highest share in 2020, accounting for more than half of the global rolled vinyl decking market and is projected to maintain its leadership status during the forecast period. However, the industrial segment is projected to witness the highest CAGR of 10.6% from 2021 to 2030.
By region, Asia-Pacific held the highest share in 2020, contributing to more than two-fifths of the total market, and is expected to continue its dominance by 2030. Moreover, this segment is projected to maintainthe fastest CAGR of 10.6% during the forecast period.
Leading players of the global rolled vinyl decking market analyzed in the research includeBradbury Co., Inc, Weatherdek, Dec-Tec, Tufdek, Armor decking, Duradek, Dec-k-ing, DekSmart, and Intelli Deck.
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*Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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