The global wooden decking market is worth US$ 7.8 Billion as of now and is expected to reach US$ 10.4 Billion by the year 2033 at a CAGR of 2.9% between 2023 and 2033.
There is a spike in public infrastructural development projects. Residential projects are being handsomely funded by the governments. Moreover, outdoor living spaces such as patios, balconies, and decks are in greater demand. Also, there is an upsurge in demand for patio décor and renovation The millennial home buyers are also into adopting outdoor entertainment areas.
The luxury homes are asking for floor covering; with durable flooring being one of the options.
At the same time, the fact that wooden decking is being replaced with composite decking can’t be ignored. This factor may hamper the wooden decking market in the near future.
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Future Market Insights has walked through these facts with future perspectives in its latest market study entitled ‘Wooden Decking Market’. It has its determined team of analysts and consultants to deploy a 360-degree view in its primary, secondary, and tertiary modes of research.
“With cost-effectiveness, aesthetic appeal, and durability being the cornerstones, the global wooden decking market is likely to grow on an explicit note in the forecast period”, says an analyst from Future Market Insights.
Key Takeaways from Wooden Decking Market
- North America holds the largest market share with the US leading from the front. This could be attributed to booming construction vertical coupled with popularity on the part of wood species conducive to decking drives.
- Europe holds the second-largest market share with the UK dominating. Herein, the consumers are preferring sustainable manufacturing practices and also making use of wood from various certified sources for addressing demand for environmentally-friendly decking material.
- The Asia-Pacific is expected to grow at the fastest rate in the wooden decking market going forward with China asking for sustainable and low-maintenance decking solutions.
Competitive Decking
- Accsys, in August 2020, did form a joint venture with Eastman Chemical Company called ‘Accoya USA LLC’. The basic intention is that of constructing and operating Accoya wood production plant for serving the market of North America.
- Fiberon, in September 2022, did announce launching Wildwood composite cladding, thereby providing an unparalleled warmth and beauty of wood in combination with high-class performance and low maintenance.
- Boise Cascade’s BMD (Building Materials Distribution) division, in December 2022, did announce expanding distribution capacity in Walterboro, SC and Hondo, Texas for building new distribution facility helping in serving the customers based out of Austin, Corpus Christi, San Antonio, and Rio Grande Valley.
- AZEK Company Inc., in October 2022, unleashed its new production facility at Boise (Idaho). It’s the company’s first in the US’ western part. The 350K square feet facility does advance the company’s strategy for driving material conversion to its low-maintenance, sustainable, and environmentally sustainable outdoor living products.
- Shubh Composite is known for providing its impertinent range of the flooring tiles and decks.
- HKS Flooring LLP leads in manufacturing teak wooden flooring, wooden plank, and oak wood flooring.
- Deckorators Inc., in October 2022, did announce providing two novel colors for its new-fangled product line of Venture Decking. They are Saltwater (a warm smokey-taupe) and Sandbox (classic, medium-brown).
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What does the Report say?
- The research study is based on wood type (pressure treated wood, redwood, cedar wood, and likewise), by construction type (repairs && remodelling and new decks), and by application (non-residential and residential).
- Growing demand for various outdoor spaces is expected to take the wooden decking market by storm in the forecast period.
Key Segments Covered in the Wooden Decking Industry Analysis
By Wood Type:
- Pressure Treated Wood
- Redwood
- Cedar Wood
- others
By Construction Type:
- Repairs & Remodelling
- New Decks
By Application:
- Residential
- Non-Residential
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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