Dublin, May 30, 2023 (GLOBE NEWSWIRE) -- The "Composite Concrete Deck Market Size, Share & Trends Analysis Report By Thickness (1.5",2",3"), By Deck Type (Proprietary System, Precast, Site-Built), By Application (Residential, Commercial), By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global composite concrete deck market size is expected to reach USD 775.6 million by 2030, registering a CAGR of 6.9% from 2023 to 2030.
The composite concrete deck is a sustainable building material that offers high strength, reinforces structural integrity, and adds durability to the structures. The rising usage of composite concrete decks in multistory residential and commercial construction is expected to fuel the market's demand.
With the growing concerns related to the environment, stringent regulations by the governments have stimulated the use of sustainable building materials. Steel used as a reinforcement material in the composite concrete deck can be recycled repeatedly without affecting its inherent properties, making it a sustainable solution. Moreover, the reinforcement given by steel reduces the consumption of concrete in the construction of decking, thus reducing the overall cost.
The market for composite concrete deck is negatively affected by the presence of decking substitutes such as wooden decking, composite decking, bamboo decking, and concrete decking, which also provide high strength and durability. However, rising concerns about using environment-friendly building products have encouraged the use of various composite materials. In addition, the growing usage of advanced materials in developed economies such as the U.S., Canada. The U.K., and Germany is anticipated to further boost demand for the composite concrete deck during the coming years.
The market is competitive owing to the presence of manufacturers that are consolidated in North America and Europe. The strong presence of major players, along with the existence of opportunities in developing countries with huge investing powers for the continuous development, exhibits high competitive rivalry among the players. Furthermore, market players are engaged in forward integration by providing products directly to end users.
Composite Concrete Deck Market Report Highlights
- The 3" thickness type segment led the market and accounted for the largest revenue share of 42.35% in 2022, and it is expanding at a CAGR of 6.8% during the forecast year 2023-2030. It is the most common and profound variety of composite floor deck that can support concrete slabs thicker than the 1.5" or 2" composite concrete deck. Its applications in outdoor flooring are for larger spans. The market demand is expected to increase during the forecast period due to its expanding trends in the industrial and commercial construction industries
- Site-built deck type led the market and accounted for USD 236.1 million in 2022. The growth is attributed to its ability to provide additional structural integrity. It can be customized to fit the exact specifications of the deck, making it more stable and movement-resistant. Thus, augmenting the demand for site-built deck type during the forecast year
- Commercial application of composite concrete deck accounted for the highest revenue share of 57.3% in 2022, and it is expanding at a CAGR of 6.6% in terms of revenue during the forecast period. Composite concrete decking is often used in public spaces, such as boardwalks, parks, and outdoor dining areas, due to its durability and resistance to wear and tear. It also has low maintenance requirements, which can reduce maintenance costs for the businesses and municipalities. This has led to an increase in the demand for the composite concrete deck in commercial construction during the coming years
- North America dominated the global market in 2022. Rising concerns about sustainability and the environmental impact of building materials drive the market. Composite decks are often made from recycled materials and are designed to last longer than traditional wood decks, reducing waste and protecting the environment. Government regulations and initiatives have been introduced to address these issues, which are likely to contribute to the growth of the market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 72 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $456 Million |
| Forecasted Market Value (USD) by 2030 | $775.6 Million |
| Compound Annual Growth Rate | 6.9% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Composite Concrete Deck Market Variables, Trends, and Scope
3.1 Market Lineage Outlook
3.2 Composite Market - Value Chain Analysis
3.2.1 Price Trend Analysis
3.2.2 Sales Channel Analysis
3.3 Regulatory Framework
3.4 Market Dynamics
3.4.1 Market Driver Analysis
3.4.1.1 Increasing demand for lightweight materials in the construction industry.
3.4.1.2 Growing utilization of Composite
3.4.2 Market Restraint Analysis
3.4.2.1 Presence of substitutes
Chapter 4. Composite Concrete Deck Market: Thickness Type Estimates & Trend Analysis
4.1 Composite Concrete Deck Market: Thickness Type Key Takeaways
4.2 Composite Concrete Deck Market: Thickness Type Movement Analysis, 2022 & 2030
4.3 1.5"
4.4 2"
4.5 3"
Chapter 5. Composite Market: Deck Type Estimates & Analysis
5.1 Composite Concrete Deck Market: Deck Type Key Takeaways
5.2 Composite Concrete Deck Market: Deck Type Movement Analysis, 2022 & 2030
5.3 Proprietary systems
5.4 Pre-cast
5.5 Site-built
Chapter 6. Composite Concrete Deck Market: Application Estimates & Analysis
6.1 Composite Concrete Deck Market: Application Key Takeaways
6.2 Composite Concrete Deck Market: Application Movement Analysis, 2022 & 2030
6.3 Residential
6.4 Commercial
Chapter 7. Composite Concrete Deck Market: Regional Estimates & Trend Analysis
Chapter 8. Competitive Landscape
Companies Mentioned
- ASC Steel Deck
- Raised Floor Solutions Limited
- Tata Steel
- Prodeck-Fixing Ltd.
- Structural Metal Decks
- O'Donnell Metal Deck, LLC
- Construction Metal Forming
- Cordeck
- A.C.T. Metal Deck Supply
- TRUEDEK Steel Decking solutions
For more information about this report visit https://www.researchandmarkets.com/r/a5s4fa
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