When it comes to deck construction materials, your main considerations are usually:
Strength becomes a more important consideration as the size, height or expected weight load of your deck increases. Your strongest materials tend to be hardwoods and your weakest materials tend to be synthetics.
Rot/decay resistance is always important, especially in those areas exposed to the elements. Synthetic and composite materials tend to be highly resistant to rot and decay, though many woods, especially hardwoods, offer more than acceptable resistance when properly maintained.
UV resistance/color stability is always a concern in areas exposed to the elements. Wood is traditionally a poor performer in this area, usually needing to be stained to the desired tone. However, though exotic hardwoods lack color stability, the silvery patina that they fade to is considered highly attractive by many. Synthetics tend to be the most color stable decking materials, holding up beautifully over the years.
Aesthetics is a matter of personal taste. Fortunately many of your options are available in a wide variety of board widths, finishes and colors to give you the visual appeal you seek.
Maintenance is required for all materials. Usually maintenance involves the immediate cleaning of any spills, regular removal of decaying organic debris such as fallen leaves, and annual or biennial application of some type of stain and/or sealant. The wood alternatives offer the biggest advantage in maintenance as most do not require any stain/sealant application, which is the most labor- and cost-intensive maintenance step.
Initial costs tend to be highest for exotic hardwoods and low-maintenance wood alternatives, and lowest for pressure treated lumber.
Maintenance costs add up quickly over time, particularly if you are not performing the staining/sealing yourself. Some estimates show low-maintenance composite and synthetic decking exhibiting a noticeable savings in total (initial + maintenance) costs in as little as five years.
Pressure Treated Lumber
Lowest initial investment, medium strength, medium rot/decay resistance, low color stability, moderate annual maintenance costs.
Redwood/Cedar
Second lowest initial investment, medium strength, medium rot/decay resistance, low color stability, moderate annual maintenance costs.
Exotic Hardwoods
Higher initial investment, higher strength, higher rot/decay resistance, most varieties fade to silvery patina, moderate annual maintenance costs.
Wood Plastic Composites
Higher initial investment, variable strength, high rot/decay resistance, medium color stability, low annual maintenance costs.
Expanded Polymer Synthetic
Higher initial investment, low strength, high rot/decay resistance, high color stability, low annual maintenance costs.