Increasing demand for construction in several developing and under developed countries along with demand for new decks on new houses, repairs of old ones and lower costs are the factors contributing to the CAGR in the forecasted period.
Market Size – USD 7.53 Billion in 2018, Market Growth - CAGR of 1.9%, Market Trends – Continuous launch of varied products made of different materials.
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According to the current analysis of Reports and Data, the global Wooden Decking market was valued at USD 7.53 Billion in 2018 and is expected to reach USD 8.34 Billion by year 2026, at a CAGR of 1.9 %. This report covers the genre of building materials with specific focus on wooden decking. A deck is a flat surface capable of supporting weight, similar to a floor, but typically constructed outdoors. They are often elevated from the ground and are usually connected to buildings. Decks are, mainly, of three types namely, wooden decks, composite decks and PVC decks. Composite and PVC decks are decks produced using artificial materials such as plastics. However, they preserve the woody look. Wooden decks, as the name suggests, are decks made purely of wood. These decks are usually used for residential and non-residential interiors and constructions. The wooden decks are of several types such as, redwood, cedar, pressure treated lumber etc. These wooden decking now-a-days come in two forms namely, tiles and panels. Increasing demand of wooden decks for residential interiors has been increasing due to the increase in constructions. This is the major driving factor of the market. However, the growing environmental concerns and availability of alternatives act as the main restraining factors. They are predominantly used as rails and building materials. The continuous construction works has been encouraging this market as well.
Further key findings from the report suggest
• Continuous developments is the developing and under developed countries results in a need for infrastructural development. Thus, there is a rising demand for wooden decks in developing countries.
• The incessant rise in the demand for construction works as well as residential interiors has been a major driving factor in the market.
• Factors such as fluctuations in wood and related material prices and availability of substitutes such as plastic decks and wood-polymer composite decks might restrict the growth of the market.
• New decks on new houses plays a key role in changing the wooden decking landscape and is projected to grow at the second-highest rate during the forecast period.
• Several technological developments and advancements have developed the quality of the wooden decks making them splinter resistant, rot resistant, durable and sustainable. This has furthermore encouraged demand for wooden decks.
• The rising environmental awareness and the stringent governmental laws to protect the environment acts as a restraining factor for production. This discourages a large number of newer participants of the market.
• Pressure treated decking type of wooden decking dominates the market and is expected to continue its growth at a CAGR of 1.7% due to its durability and stability. Redwood decking is expected to grow at a CAGR of 2.4%.
• North America dominates the market with the largest market share, owing to the technological advancement and the abundant resources.
• Europe is the second largest market because of the abundance of wood in the region.
• Asia Pacific is expected to have the fastest growth with a CAGR of 2.5% due to the availability of cheap labor and resources. The spiraling urbanization in the emerging economies of the region has resulted in an increase in the demand for wooden decks.
• The key players include Universal Forests Products, Weyerhaeuser, West Fraser Timber, Intefor Co., James Latham Plc and Mendocino Redwood Company. Intefor Co. dominates the market.
For the purpose of this report, Reports and Data has segmented the Wooden Decking market on the basis of type, application, end use, and region:
Type (Revenue, USD Million; 2016–2026)
• Redwood Decking
• Cedar Decking
• Pressure treated Decking
• Others:
• Mahogany
• IPE (Brazilian Walnut)
• Teak
• Camaru
Application (Revenue, USD Million; 2016–2026)
• Residential
• Building Constructions
• Infrastructures
End Use (Revenue, USD Million; 2016–2026)
• Residential
• Non-residential:
• Commercial
• Patios
• Docks
• Hotels
Regional Outlook (Revenue in USD Million; 2016–2026)
• North America
o U.S.
o Canada
• Europe
o Germany
o France
o UK
o Spain
o Italy
o Rest of the Europe
• Asia Pacific
o China
o India
o Japan
o Rest of Asia-Pacific
• Middle East & Africa
• Latin America
o Brazil
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