Synthetic Decking Product Industry ChallengesPosted on 11:38 pm | Posted in WPC Decking Blog | Posted by
Synthetic Decking Product-A Composite Material
Higher raw material costs and product performance are the biggest challenges to the Synthetic Decking product and railing industry. Material costs and performance will ultimately affect Synthetic Decking product‘s ability to take market share from wood decking. To a lesser extent, decking industry faces increased competitive pressure from patio and hardships. Stricter decking safety codes and cumbersome permitting in some areas are driving up the cost of deck installations. Costlier decking installations combined with the growth in decorative landscapes are giving consumers more choices in the design of their outdoor living space. A sustained recovery in the economy will provide the building products industry with ample opportunities to grow their business over the next five years. Given that demographic and consumer trends favor growth in outdoor living products, suppliers and channel partners need to align their product lines to make most of this opportunity.
Homeowners want reasonably priced, low maintenance products with refined aesthetics and long-term performance. Contractors want products that are easy to install, perform well and are supported by good warranties. Distributors want products with sharp turns, good margins, and have minimal call backs. They also want the products to be supported by a company that works to build the brand and pull through demand. Thus, suppliers’ success will be dependent on their ability to produce robust products that improve the lifestyles for homeowners while providing the players in the supply chain an opportunity to make money.
Synthetic Decking product has a great future given that the economy and the housing industry are expected to recover from a very low point and that the industry’s latest ultra-low maintenance products have been extremely successful. These products have the potential to take more market share from wood and to grow the overall Synthetic Decking product category share to over 20%. However, maximizing this share gain will be dependent on long-term product performance that meets customers’ expectations and maintaining a reasonable price-point differential with wood products.17 comments | Comment has been closed
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