PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1515597
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1515597
Asia Pacific Plastic Lumber Market, By Product Type, By Application, By Resin Type, By Country - Industry Analysis, Market Size, Market Share & Forecast from 2024-2032
REPORT HIGHLIGHT
Asia Pacific Plastic Lumber Market size was valued at USD 680.9 Million in 2023, expanding at a CAGR of 11.90% from 2024 to 2032.
Plastic lumber, also known as composite lumber, plastic wood, or synthetic wood, is a manufactured building material designed to replicate the look and feel of natural wood. Typically crafted from recycled plastics such as polypropylene (PP), it undergoes a blending process with various additives like colorants, UV stabilizers, and sometimes natural fibers such as wood, rice husks, or bamboo. The composition of plastic lumber greatly impacts its performance characteristics.
Asia Pacific Plastic Lumber Market- Market Dynamics
O Increasing expenditure on the construction sector to propel market demand
The plastic lumber market is witnessing an expansion into diverse applications and industries beyond its traditional use in construction and landscaping. It now finds utility in marine infrastructure, outdoor furniture, industrial pallets, transportation infrastructure, and recreational products. With ongoing advancements in material technology and product innovation, the potential applications for plastic lumber are expected to broaden further, presenting opportunities in emerging markets and industries. Offering notable long-term economic advantages, plastic lumber is highly durable and resistant to rot, decay, insects, and weathering, reducing the need for frequent maintenance, repairs, and replacements. This durability translates into substantial cost savings for homeowners, businesses, and municipalities over time, making it a financially prudent investment. The increasing expenditure on India's construction sector is a significant driver for the market, spurred by the rising demand for sustainable building materials. Projections indicate that by 2030, approximately 600 million people will inhabit urban centers in India, necessitating 25 million additional mid-end and affordable housing units. Notably, the construction development sector in India attracted $32 billion in foreign direct investment from April 2000 to September 2023, positioning the country as one of the top recipients of FDI. With the Indian construction industry recording a robust growth rate of 15.7% in 2022, reaching $738.5 billion in value terms, the expansion of the region's construction sector serves as a significant catalyst for the market's growth.
Asia Pacific Plastic Lumber Market- Key Insights
v As per the analysis shared by our research analyst, the market is estimated to grow annually at a CAGR of around 11.90% over the forecast period (2024-2032)
v Based on Product Type segmentation, recycled plastic was predicted to show maximum market share in the year 2023
v Based on Resin Type segmentation, Polyethylene was the leading type in 2023
v On the basis of countries, China was the leading revenue generator in 2023
Asia Pacific Plastic Lumber Market- Segmentation Analysis:
The Asia Pacific Plastic Lumber Market is segmented on the basis of Product Type, Application, Resin Type, and Country.
The market is divided into three categories based on Product Type: Virgin Plastic, Recycled Plastic and Composite. In 2023, the recycled plastic segment claimed the largest market share. Recycled plastic involves the reprocessing of plastic materials previously used, contributing to environmental conservation efforts. To create recycled plastic lumber, post-consumer, and post-industrial plastic waste undergo collection, cleaning, and reprocessing. Its eco-friendly nature has propelled its prominence in the global plastic lumber market, offering a sustainable solution that mitigates plastic pollution in oceans and landfills. This aligns with the increasing demand for sustainable construction materials and products.
The market is divided into four categories based on Resin Type: Polyethylene, Polyvinyl Chloride, Polystyrene, and Others. Polyethylene dominated the market share in 2023, commanding a significant presence in the global plastic lumber industry. Renowned for its affordability and durability, polyethylene finds extensive applications in landscaping, decking, fencing, and outdoor furniture. Its recyclable nature further enhances its utilization in the plastic lumber sector.
Asia Pacific Plastic Lumber Market- Geographical Insights
The analysis of the Asia Pacific Plastic Lumber market includes countries such as India, China, South Korea, Japan, Australia, Thailand, Indonesia, and the Philippines, along with the rest of the Asia Pacific (APAC). China emerged as the market leader, boasting the highest market share and a prominent position in the manufacturing sector, particularly in wood plastic composite materials. Wood plastic composites contribute to product longevity and environmental sustainability, driving their widespread adoption across various industries, notably manufacturing. These factors collectively contribute to the burgeoning growth and expansion of the wood plastic composites market in China.
Asia Pacific Plastic Lumber Market- Competitive Landscape:
Plastic lumber manufacturers implement a diverse range of strategies to uphold their competitiveness within the construction materials sector. Continuous innovation plays a pivotal role in enhancing the durability, versatility, and visual appeal of plastic lumber, thereby broadening its utility across various construction ventures. Streamlined Resin Typologies optimize resource allocation and minimize expenses, ensuring competitive pricing within the market landscape. Collaborative endeavors with architects, builders, and environmental groups promote product awareness and acceptance, driving market penetration. Stringent quality control protocols and adherence to industry standards reinforce consumer confidence and satisfaction. Embracing sustainability through the utilization of recycled plastics underscores environmental stewardship, resonating with environmentally-conscious consumers and regulatory bodies alike, thereby solidifying plastic lumber's status as a viable alternative to traditional wood products.
Recent Developments:
v In December 2022, Ocean Legacy unveiled the inaugural commercially available plastic pellet in North America, known as Legacy Plastic.
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
ASIA PACIFIC PLASTIC LUMBER MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHT
O Trex Company, Inc.
O American Recycled Plastic, Inc.
O Tangent Technologies, LLC
O KWK Plastic Lumber Co., Ltd.
O Repeat Plastics Australia Pty Ltd. (Recycle technology (Aust.) Pty Ltd.)
O Ecoville
O CMI Limited Co. (Capital Partners)
O PlasTEAK, Inc
O Others
ASIA PACIFIC PLASTIC LUMBER MARKET, BY PRODUCT TYPE - MARKET ANALYSIS, 2019 - 2032
O Virgin Plastic
O Recycled Plastic
O Composite
ASIA PACIFIC PLASTIC LUMBER MARKET, BY APPLICATION- MARKET ANALYSIS, 2019 - 2032
O Decking
O Molding Trim
O Landscaping Outdoor Products
O Fencing
O Windows Doors
O Others
ASIA PACIFIC PLASTIC LUMBER MARKET, BY RESIN TYPE - MARKET ANALYSIS, 2019 - 2032
O Polyethylene
O Polyvinyl Chloride
O Polystyrene
O Others
ASIA PACIFIC PLASTIC LUMBER MARKET, BY COUNTRY- MARKET ANALYSIS, 2019 - 2032
O India
O China
O South Korea
O Japan
O Australia
O Thailand
O Indonesia
O Philippines
O Rest of APAC
Table of Contents
1. Asia Pacific Plastic Lumber Market Overview
- 1.1. Study Scope
- 1.2. Market Estimation Years
2. Executive Summary
- 2.1. Market Snippet
- 2.1.1. Asia Pacific Plastic Lumber Market Snippet by Product type
- 2.1.2. Asia Pacific Plastic Lumber Market Snippet by Application
- 2.1.3. Asia Pacific Plastic Lumber Market Snippet by Resin Type
- 2.1.4. Asia Pacific Plastic Lumber Market Snippet by Country
- 2.2. Competitive Insights
3. Asia Pacific Plastic Lumber Key Market Trends
- 3.1. Asia Pacific Plastic Lumber Market Drivers
- 3.1.1. Impact Analysis of Market Drivers
- 3.2. Asia Pacific Plastic Lumber Market Restraints
- 3.2.1. Impact Analysis of Market Restraints
- 3.3. Asia Pacific Plastic Lumber Market Opportunities
- 3.4. Asia Pacific Plastic Lumber Market Future Trends
4. Asia Pacific Plastic Lumber Industry Study
- 4.1. PEST Analysis
- 4.2. Porter's Five Forces Analysis
- 4.3. Growth Prospect Mapping
- 4.4. Regulatory Framework Analysis
5. Asia Pacific Plastic Lumber Market: COVID-19 Impact Analysis
- 5.1. Pre-COVID-19 Impact Analysis
- 5.2. Post-COVID-19 Impact Analysis
- 5.2.1. Top Performing Segments
- 5.2.2. Marginal Growth Segments
- 5.2.3. Top Looser Segments
- 5.2.4. Marginal Loss Segments
6. Asia Pacific Plastic Lumber Market Landscape
- 6.1. Asia Pacific Plastic Lumber Market Share Analysis, 2023
- 6.2. Breakdown Data, by Key Manufacturer
- 6.2.1. Established Players' Analysis
- 6.2.2. Emerging Players' Analysis
7. Asia Pacific Plastic Lumber Market - By Product type
- 7.1. Overview
- 7.1.1. Segment Share Analysis, By Product type, 2023 & 2032 (%)
- 7.1.2. Virgin Plastic
- 7.1.3. Recycled Plastic
- 7.1.4. Composite
8. Asia Pacific Plastic Lumber Market - By Application
- 8.1. Overview
- 8.1.1. Segment Share Analysis, By Application, 2023 & 2032 (%)
- 8.1.2. Decking
- 8.1.3. Molding Trim
- 8.1.4. Landscaping Outdoor Products
- 8.1.5. Fencing
- 8.1.6. Windows Doors
- 8.1.7. Others
9. Asia Pacific Plastic Lumber Market - By Resin Type
- 9.1. Overview
- 9.1.1. Segment Share Analysis, By Resin Type, 2023 & 2032 (%)
- 9.1.2. Polyethylene
- 9.1.3. Polyvinyl Chloride
- 9.1.4. Polystyrene
- 9.1.5. Others
10. Asia Pacific Plastic Lumber Market- By Geography
- 10.1. Introduction
- 10.1.1. Segment Share Analysis, By Geography, 2023 & 2032 (%)
- 10.2. Asia Pacific (APAC)
- 10.2.1. Overview
- 10.2.2. Asia Pacific Plastic Lumber Key Manufacturers in Asia Pacific
- 10.2.3. Asia Pacific Market Size and Forecast, By Country, 2019 - 2032 (US$ Million)
- 10.2.4. Asia Pacific Market Size and Forecast, By Product type, 2019 - 2032 (US$ Million)
- 10.2.5. Asia Pacific Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 10.2.6. Asia Pacific Market Size and Forecast, By Resin Type, 2019 - 2032 (US$ Million)
- 10.2.7. India
- 10.2.7.1. Overview
- 10.2.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
- 10.2.7.3. India Market Size and Forecast, By Product type, 2019 - 2032 (US$ Million)
- 10.2.7.4. India Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 10.2.7.5. India Market Size and Forecast, By Resin Type, 2019 - 2032 (US$ Million)
- 10.2.8. China
- 10.2.8.1. Overview
- 10.2.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
- 10.2.8.3. China Market Size and Forecast, By Product type, 2019 - 2032 (US$ Million)
- 10.2.8.4. China Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 10.2.8.5. China Market Size and Forecast, By Resin Type, 2019 - 2032 (US$ Million)
- 10.2.9. Japan
- 10.2.9.1. Overview
- 10.2.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
- 10.2.9.3. Japan Market Size and Forecast, By Product type, 2019 - 2032 (US$ Million)
- 10.2.9.4. Japan Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 10.2.9.5. Japan Market Size and Forecast, By Resin Type, 2019 - 2032 (US$ Million)
- 10.2.10. South Korea
- 10.2.10.1. Overview
- 10.2.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
- 10.2.10.3. South Korea Market Size and Forecast, By Product type, 2019 - 2032 (US$ Million)
- 10.2.10.4. South Korea Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 10.2.10.5. South Korea Market Size and Forecast, By Resin Type, 2019 - 2032 (US$ Million)
- 10.2.11. Australia
- 10.2.11.1. Overview
- 10.2.11.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
- 10.2.11.3. Australia Market Size and Forecast, By Product type, 2019 - 2032 (US$ Million)
- 10.2.11.4. Australia Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 10.2.11.5. Australia Market Size and Forecast, By Resin Type, 2019 - 2032 (US$ Million)
- 10.2.12. Thailand
- 10.2.12.1. Overview
- 10.2.12.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
- 10.2.12.3. Thailand Market Size and Forecast, By Product type, 2019 - 2032 (US$ Million)
- 10.2.12.4. Thailand Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 10.2.12.5. Thailand Market Size and Forecast, By Resin Type, 2019 - 2032 (US$ Million)
- 10.2.13. Indonesia
- 10.2.13.1. Overview
- 10.2.13.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
- 10.2.13.3. Indonesia Market Size and Forecast, By Product type, 2019 - 2032 (US$ Million)
- 10.2.13.4. Indonesia Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 10.2.13.5. Indonesia Market Size and Forecast, By Resin Type, 2019 - 2032 (US$ Million)
- 10.2.14. Philippines
- 10.2.14.1. Overview
- 10.2.14.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
- 10.2.14.3. Philippines Market Size and Forecast, By Product type, 2019 - 2032 (US$ Million)
- 10.2.14.4. Philippines Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 10.2.14.5. Philippines Market Size and Forecast, By Resin Type, 2019 - 2032 (US$ Million)
- 10.2.15. Rest of APAC
- 10.2.15.1. Overview
- 10.2.15.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2019 - 2032, (US$ Million)
- 10.2.15.3. Rest of APAC Market Size and Forecast, By Product type, 2019 - 2032 (US$ Million)
- 10.2.15.4. Rest of APAC Market Size and Forecast, By Application, 2019 - 2032 (US$ Million)
- 10.2.15.5. Rest of APAC Market Size and Forecast, By Resin Type, 2019 - 2032 (US$ Million)
11. Key Vendor Analysis- Asia Pacific Plastic Lumber Industry
- 11.1. Competitive Dashboard
- 11.2. Company Profiles
- 11.2.1. Trex Company, Inc.
- 11.2.2. American Recycled Plastic, Inc.
- 11.2.3. Tangent Technologies, LLC
- 11.2.4. KWK Plastic Lumber Co., Ltd.
- 11.2.5. Repeat Plastics Australia Pty Ltd. (Recycle technology (Aust.) Pty Ltd.)
- 11.2.6. Ecoville
- 11.2.7. CMI Limited Co. (Capital Partners)
- 11.2.8. PlasTEAK, Inc
- 11.2.9. Others
12. 360 Degree Analyst View
13. Appendix
- 13.1. Research Methodology
- 13.2. References
- 13.3. Abbreviations
- 13.4. Disclaimer
- 13.5. Contact Us
List of Tables
- TABLE List of data sources
- TABLE Market drivers; Impact Analysis
- TABLE Market restraints; Impact Analysis
- TABLE Asia Pacific Plastic Lumber Market: Product type Snapshot (2023)
- TABLE Segment Dashboard; Definition and Scope, by Product type
- TABLE Asia Pacific Plastic Lumber Market, by Product type 2019-2032 (USD Million)
- TABLE Asia Pacific Plastic Lumber Market: Application Snapshot (2023)
- TABLE Segment Dashboard; Definition and Scope, by Application
- TABLE Asia Pacific Plastic Lumber Market, by Application 2019-2032 (USD Million)
- TABLE Asia Pacific Plastic Lumber Market: Resin Type Snapshot (2023)
- TABLE Segment Dashboard; Definition and Scope, by Resin Type
- TABLE Asia Pacific Plastic Lumber Market, by Resin Type 2019-2032 (USD Million)
- TABLE Asia Pacific Asia Pacific Plastic Lumber Market, by Country, 2019-2032 (USD Million)
List of Figures
- FIGURE Asia Pacific Plastic Lumber Market Segmentation
- FIGURE Market research methodology
- FIGURE Value chain analysis
- FIGURE Porter's Five Forces Analysis
- FIGURE Market Attractiveness Analysis
- FIGURE COVID-19 Impact Analysis
- FIGURE Pre & Post COVID-19 Impact Comparision Study
- FIGURE Competitive Landscape; Key company market share analysis, 2023
- FIGURE Product type segment market share analysis, 2023 & 2032
- FIGURE Product type segment market size forecast and trend analysis, 2019 to 2032 (USD Million)
- FIGURE Application segment market share analysis, 2023 & 2032
- FIGURE Application segment market size forecast and trend analysis, 2019 to 2032 (USD Million)
- FIGURE Resin Type segment market share analysis, 2023 & 2032
- FIGURE Resin Type segment market size forecast and trend analysis, 2019 to 2032 (USD Million)
- FIGURE Asia Pacific Plastic Lumber Market share and leading players, 2023
- FIGURE Asia Pacific Plastic Lumber Market share analysis by country, 2023
- FIGURE India Plastic Lumber Market size, forecast and trend analysis, 2019 to 2032 (USD Million)
- FIGURE China Plastic Lumber Market size, forecast and trend analysis, 2019 to 2032 (USD Million)
- FIGURE Japan Plastic Lumber Market size, forecast and trend analysis, 2019 to 2032 (USD Million)
- FIGURE South Korea Plastic Lumber Market size, forecast and trend analysis, 2019 to 2032 (USD Million)
- FIGURE Australia Plastic Lumber Market size, forecast and trend analysis, 2019 to 2032 (USD Million)
- FIGURE Thailand Plastic Lumber Market size, forecast and trend analysis, 2019 to 2032 (USD Million)
- FIGURE Indonesia Plastic Lumber Market size, forecast and trend analysis, 2019 to 2032 (USD Million)
- FIGURE Philippines Plastic Lumber Market size, forecast and trend analysis, 2019 to 2032 (USD Million)
- FIGURE Rest of APAC Plastic Lumber Market size, forecast and trend analysis, 2019 to 2032 (USD Million)
