The Wooden Decking Market report, unveiled by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—presents invaluable insights and meticulous analysis of the Wooden Decking market. Encompassing the research’s scope and essence, this report scrupulously examines the driving factors, market size, and predictive data for Wooden Decking. It furnishes intricate revenue and shipment segmentations, accompanied by a decade-long projection up to 2033. Additionally, the document evaluates key industry players, their market distribution, the competitive scenario, and regional perspectives.
The global Wooden Decking Market is on track for substantial growth, with an estimated value of approximately US$ 7.8 billion projected for the year 2023. This positive trajectory is primarily driven by the rising preference for high-quality wooden decks in the residential sector, serving as a catalyst for market expansion. Forecasts suggest that by 2033, the market is poised to attain a valuation of US$ 10.4 billion, showcasing a Compound Annual Growth Rate (CAGR) of 2.9% from 2023 to 2033.
One of the key drivers propelling this growth is the increasing demand stemming from repair and remodeling endeavors. These projects play a significant role in bolstering the overall growth and vitality of the wooden decking market. Moreover, the market stands to benefit from ongoing trends such as urbanization and heightened investments in infrastructural development, particularly in emerging economies. These factors underscore the promising outlook of the market throughout the forecast period.
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Significant advancements in manufacturing processes coupled with the introduction of cutting-edge materials have greatly bolstered the sustainability and appeal of wooden decks. These developments are poised to play a pivotal role in driving demand within the wooden decking market, thereby augmenting its growth potential.
The expanding applications of wooden decks across residential and commercial sectors have created promising avenues for market expansion. The increasing preference for environmentally friendly and sustainable flooring solutions is expected to be a key catalyst for market growth in the foreseeable future.
The convergence of rising investments in the construction sector and a growing consumer inclination towards aesthetic considerations is anticipated to positively influence the market dynamics in the coming years. The proliferation of both residential and non-residential application segments, supported by demographic trends such as population growth, is projected to further stimulate the demand for wooden decking.
In regions such as Europe and North America, substantial investments in the construction sector are set to drive the demand for wooden decking. Moreover, the surge in real estate projects and the establishment of numerous hospitality, commercial, and corporate facilities in emerging economies like India and China are poised to be pivotal in accelerating the growth trajectory of the wooden decking market during the forecast period.
Key Takeaways from the Market Study
- From 2018 to 2022, the market demand expanded at a CAGR of 3.8%
- Based on the wood type, the pressure-treated wood segment accounts for a CAGR of 2.7%
- By construction type, the repair & remodeling segment is expected to expand at a CAGR of 2.5% during the forecast period
- North America to emerge as a promising market, capturing a CAGR of 2.8%
- Asia Pacific to be an opportunistic market, expected to capture a CAGR of 2.8% during the forecast period.
“Growing popularity of outdoor spaces and technological innovation in wooden decking is expected to drive the market in the forecast period. The increasing demand from the residential sector globally is projected to play a vital role in strengthening the market”.
Competitive landscape
Prominent players in the wooden decking market are Georgia-Pacific LLC; Boral Ltd.; Boise Cascade Company; Builders FirstSource, Inc; AZEK Building Products, Inc., among others.
Some notable developments are as follows:
- In October 2022– AZEK Company Inc. unveiled its newest manufacturing facility in Boise, Idaho – AZEK’s first in the Western part of the United States. The 350,000-square-foot state-of-the-art facility further advances AZEK’s strategy to drive material conversion to its types of sustainable, low-maintenance, and environmentally sustainable outdoor living products, providing capacity that will allow the Company to scale to market demand for its products.
- In September 2022- Fiberon announces the launch of Wildwood composite cladding, providing the unrivaled beauty and warmth of the wood combined with the durability of high-performance, low-maintenance materials. Wildwood composite cladding features an open-joint profile and is available in a variety of board lengths and widths for added design flexibility.
Know More about What the Wooden Decking Market Report Covers
Future Market Insights offers an unbiased analysis of the global wooden decking market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the wooden decking market, the market is segmented based on the wood type, construction type, and application across five major regions.
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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, Inc. (ESOMAR certified, Stevie Award – recipient 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 favour 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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