Global Wooden Decking Market to Grow at 4.82% CAGR by 2028

 

Triton Market Research presents the Global Wooden Decking Market report sectioned by Product Type {Wood-Plastic Composites (WPC), Cedar, Tropical Hardwood, Redwood, Pressure-treated Wood, Other Product Types}, Application {Railing, Wall, Floor, Other Applications}, End-user {Residential, Non-residential}, and Regional Outlook {Europe, North America, Middle East and Africa, Asia-Pacific, Latin America}. The report further discusses the Market Summary, Industry Outlook, Impact of COVID-19, Key Insights, Porter’s Five Forces Analysis, Market Attractiveness Index, Vendor Scorecard, Value Chain Analysis, Key Market Strategies, Drivers, Challenges, Opportunities, Competitive Landscape, Research Methodology & Scope, Global Market Size, Forecasts & Analysis (2022-2028).

Triton Market Research’s report highlights that the global wooden decking market is anticipated to witness growth at a CAGR of 4.82% during the forecast period 2022-2028.

 

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Wood decking is a multifaceted procedure involving the application of a layer of quality materials to the exteriors of a building or structure in order to provide protection and thermal insulation from harsh climatic conditions.

Wooden decking is widely used in the residential sector for new structure construction, maintenance, and renovation purposes, such as paths, swimming pool decks, flooring, cladding and siding, and so on. With the rising living standards, people all over the world are preferring hardwood or timber decking, which can be used in numerous ways as part of garden landscaping to increase a house’s living area as well as an alternative to stone-based features like patios. Thus, the intensification of renovation activities is anticipated to supplement the growth of the wooden decking market in the forecast period.

However, the growing usage of alternative wood decking materials can negatively impact the development of the global market. This is due to the high cost of acquiring and maintaining wooden decks compared to alternative composite decking materials, such as metal decking, PVC, and polystyrene plastics.

Globally, the Asia-Pacific is expected to become the fastest-growing region in the wooden decking market. The region’s robust growth can be attributed to the increase in IT towers, logistics centers, multifunctional towers, and universities. Furthermore, rising family income levels and an increasing number of people moving from rural to urban areas are increasing the demand for residential housing in the region. Also, the number of affordable housing projects in the region is growing as several governments offer tax breaks to encourage investment in the region. These factors are likely to help the wooden decking market grow.

Leading companies in the wooden decking market include Trex Company Inc, Fiberon, Humboldt Sawmill Company LLC, Setra Group AB, Thermory AS, UFP Industries Inc, Metsä Group, DuraLife Decking & Railing Systems, Inovar Floor, Weyerhaeuser Company, Deck Solutions LLC, UPM-Kymmene Oyj, Azek Company Inc, West Fraser Timber Co Ltd, Kebony, Mendocino Forest Products Company LLC, Vetedy Group, NeoTimber, and Tecnodeck (Mittera Group).

The wooden decking market is fragmented owing to the considerable presence of domestic and international players, particularly in North America and Europe. However, decking activities employ various types of wood types, including redwood, cedar, and tropical wood. These items are not widely available globally on a commercial scale, which limits the growth of new entrants. Thus, it can be said that the threat of new entrants is low.

 

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