Australia Composite Decking and Railing Market (2023-2029) COVID-19 Impact, Trends, Forecast, Share, Industry, Size, Companies, Value, Analysis, Revenue & Growth: Market Forecast By Type, By Resin Type, By Application, By Regions and Competitive Landscape

Australia Composite Decking and Railing Market Synopsis

During 2019 to 2022, Australia Composite decking and railing market saw a notable surge in demand, driven by an upswing in both residential and commercial projects nationwide. Nevertheless, the year 2020 brought challenges due to the COVID-19 pandemic, resulting in a 7% decline in Australia's GDP and a revenue slowdown. This was predominantly caused by a nationwide lockdown, which subsequently led to a cessation in construction activities. However, with the resumption of construction activities and a growing demand for the completion of ongoing residential projects, including notable ones like the $312 million Playford Alive, the $250 million Fortville plan redevelopment, and the $103 million-valued Emerald City Mixed-Use Development, the market gradually regained momentum post-pandemic.
According to this research, Australia Composite Decking and Railing market size is projected to shrink at CAGR of 12.3% during 2023-2029. Australia composite decking and railing market is poised for substantial growth in forthcoming years, driven by increased investments in the residential sector as there are currently around 24,000 apartments in development, with Melbourne and Sydney contributing to half of these ongoing projects, serving as significant catalysts for market expansion. Further, Australia's annual population growth rate of 1.4% and the concurrent urbanization in cities like Queensland, Victoria, and New South Wales are expected to spur real estate development, further fuelling market growth. Additionally, Government initiatives, such as the 2021 Infrastructure Plan and the Housing Strategy 2017-2027, which allocates $136 million for Queensland, play a pivotal role in supporting Australia's composite decking and railing market.

Market by Types

Capped composite decking and railing types are anticipated to exhibit significant growth in Australia composite decking and railing industry, primarily due to their exceptional durability, minimal maintenance requirements, and the substantial long-term cost savings they offer.

Market by Resin Types

In 2022, polyethylene (PE) resin types dominated the Australia composite decking and railing market owing to their exceptional durability, low maintenance requirements, and cost-effectiveness. PE is highly resistant to moisture, rot, and insects, making it an ideal choice for outdoor applications. Homeowners appreciate its easy maintenance, as PE composites do not require staining or painting.

Market by Applications

In 2022, Australia composite decking and railing market saw a higher revenue share from residential applications compared to commercial ones. This shift may have been driven by increased home renovation and improvement projects, heightened focus on home upgrades due to the COVID-19 pandemic.

Market by Regions

New South Wales (NSW) in Australia is anticipated to exhibit substantial growth in composite decking and railing market due to its high population, urbanization, and increased construction activities in both residential and commercial sectors.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 11 Years Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects

Key Highlights of the Report

• Australia Composite Decking and Railing Market Overview
• Australia Composite Decking and Railing Market Outlook
• Australia Composite Decking and Railing Market Forecast
• Historical Data and Forecast of Australia Composite Decking and Railing Market Revenues for the Period 2019-2029F
• Historical Data and Forecast of Market Revenues, By Types, for the Period 2019-2029F
• Historical Data and Forecast of Market Revenues, By Resin Types, for the Period 2019-2029F
• Historical Data and Forecast of Market Revenues, By Applications, for the Period 2019-2029F
• Historical Data and Forecast of Market Revenues, By Regions, for the Period 2019-2029F
• Market Drivers and Restraints
• Australia Composite Decking and Railing Market Trends
• Industry Life Cycle
• Porter’s Five Force Analysis
• Market Opportunity Assessment
• Australia Composite Decking and Railing Market Share, By Companies
• Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

By Types

• Capped
• Uncapped

By Resin Types

• Polyethylene
• Polypropylene
• Polyvinylchloride
• Others (Including Polystyrene, Polyester, and Nylon, etc.)

By Applications

• Residential
• Commercial

By Regions

• New South Wales
• Victoria
• Queensland
• Western Australia
• Rest of Australia (South Australia, Australian Capital Territory, Tasmania, and Northern Territory.)