Market Size & Trends
The Canada Polyvinyl Chloride (PVC) decking market size was valued at USD 36.1 million in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 9.0% from 2023 to 2030. Rapid urbanization and industrialization coupled with the growing infrastructure industry and the presence of several manufacturing industries boosted by investments from governments for industrial sector are projected to positively impact the PVC decking market over the forecast period.
Polyvinyl chloride (PVC) is the most widely utilized plastics across building and construction applications such as pipes, flooring, window profiles, cables, and roofing. In addition, PVC resin is being widely utilized to manufacture decks as it offers moisture control, high resistance to mold, and resistivity toward decay and humidity compared to traditional materials such as wood and composites.
The prices of PVC are subject to intense fluctuations as it is derived from crude oil, which is a highly volatile raw material. The poor heat stability of PVC derivatives, i.e., polyvinyl alcohol (PVA) and polyvinyl acetate, is also expected to hamper its regional demand in the coming years. Future shifts in the demand-supply scenario are expected to keep the costs of PVC volatile in the Canadian market.
PVC decking is preferred for concrete crack injection over its alternatives such as aluminum due to its high tensile strength, excellent compression properties, elevated flexural strength, and corrosion resistance.
Application Insights
The residential application segment led the market and accounted for more than 41.0% share of the revenue in 2022. The residential construction industry is mainly driven by the rise in single-family housing units. According to Statistics Canada, over 83,480 units were completed in 2022 in line with the population growth in major cities. In addition, the ongoing transition to a sustainable energy system, especially in North America, is further fueling the demand for residential green buildings, driving the adoption of PVC decking in construction applications.
The rising construction spending and the growing inclination of consumers toward exterior materials is expected to propel the market demand for PVC decking in a commercial building. The development of the construction industry and shift in consumer perception of outdoor decks made of PVC is further creating a surge in demand for polyvinyl chloride decking in the country. Moreover, continuous development in key growth areas such as interiors and exterior aesthetics is expected to boost the market over the forecast period.
In addition, the growing thermal power market and factories are expected to boost the production of decks. This, in turn, is expected to lead to increased demand and consumption of polyvinyl chloride for the industrial sectors in the form of decking.
Key Players & Market Share Insights
The market is moving towards consolidation on account of presence of large number of global and regional players. Major players have strong distribution network and product brands in the global market. The ongoing research and development activities in Canada PVC decking market exhibit several growth and expansion opportunities to market players, which in turn is projected to positively influence the overall market.
Manufacturers are engaged in expansion activities for polyvinyl chloride plastic decking. For instance, in June 2022, Owens Corning announced the completion of its purchase of WearDeck, an Ocala, Florida-based premium composite decking and structural lumber manufacturer. Owens Corning expects this industry to grow significantly in the coming years, contributing to the company's goal of reaching USD 10 billion in revenue by 2024. Some of the prominent players in Canada Polyvinyl Chloride (PVC) decking market include:
Robi Decking
National Decking
Deck Masters of Canada
The Deck Store Inc.
Advanced Environmental Recycling Technologies, Inc.
Fiberon LLC
Azek Building Products, Inc.
Cardinal Building Products
Certainteed Corporation