According to a new report, published by KBV research, 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).
The plastic lumber market is experiencing a significant expansion driven by several factors. Growing awareness of sustainability and the need for durable, low-maintenance materials has fueled demand for plastic lumber across various applications, including decking, fencing, outdoor furniture, and landscaping. The versatility of plastic lumber, which resists rot, insects, and moisture, coupled with its recyclability, positions it as an attractive alternative to traditional wood lumber.
The Polyvinyl Chloride segment is registering a CAGR of 11.6% during (2023 - 2030). Polyvinyl chloride (PVC) lumber requires minimal maintenance, eliminating the need for painting, staining, sealing, or waterproofing. PVC lumber is easy to clean with soap and water, making it a convenient and low-maintenance choice for homeowners and property managers. The low maintenance requirements of PVC lumber contribute to its growing demand as a preferred material for outdoor construction and landscaping projects.
The Decking segment is leading the Global Plastic Lumber Market by Application in 2022; thereby, achieving a market value of $3.6 billion by 2030. Plastic lumber decking is highly durable and resistant to rot, decay, insects, moisture, and UV radiation, making it well-suited for outdoor environments. Unlike traditional wood decking, plastic lumber decking does not warp, splinter, or crack over time, ensuring long-lasting performance and minimal maintenance requirements.
The Recycled Plastic segment is experiencing a CAGR of 11.2% during (2023 - 2030). Recycled plastic offers a sustainable alternative to conventional materials by diverting plastic waste from landfills and reducing the demand for virgin resources. Using recycled plastic in plastic lumber production helps mitigate environmental issues associated with plastic pollution and resource depletion. Using recycled plastic in plastic lumber production helps mitigate environmental issues associated with plastic pollution and resource depletion.
Full Report: https://www.kbvresearch.com/plastic-lumber-market/
The Europe region dominated the Global Plastic Lumber Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $4.3 billion by 2030. The North America region is anticipating a CAGR of 10.8% during (2023 - 2030). Additionally, The Asia Pacific region would exhibit a CAGR of 11.8% during (2023 - 2030).
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)
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