Demand for wood-plastic composite (WPC) and plastic lumber in the U.S. will increase 6.9% each year to $5.9 billion in 2020, the Freedonia Group forecast today.
In its Wood-Plastic Composite & Plastic Lumber study, the group identified the residential market as a contributing factor to the products’ growth, particularly in decking. Decking’s share of the WPC and plastic lumber market rose to 43.1% in 2015 from 40.1% in 2010.
Most homeowners want the aesthetic of a wood deck without the upkeep, Freedonia says. Consequently, “producers will continue to offer decking materials with more realistic wood-like surface textures and a broader palette of colors, such as those that look like tropical hardwoods,” analyst Matt Zielenski says. Freedonia also declares that other applications of WPC and plastic lumber will be used in projects such as gazebos and al fresco dining areas that will enhance a homeowner’s outdoor living space.
The study is available from the Freedonia Group for $5500.