Wooden decking consists of various durable wood types that are suitable for outdoor use and offer aesthetic appeal. Wooden decking provides a comfortable, attractive surface that enhances the curb appeal of homes while doubling up as an outdoor living space. The global wooden decking market provides various wood types like redwood, cedar, and tropical hardwood that offer durability against harsh weather conditions along with maintaining stability, comfort and appealing looks for years.
The global wooden decking Market is estimated to be valued at US$ 23107.38 Mn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing demand for outdoor leisure and entertaining spaces amid rising home improvement and repair activities has majorly contributed to the steady growth of the wooden decking market over the years. Wooden deckingplays a pivotal role in enhancing the aesthetic appeal of homes and doubling up the usable home space.The pandemic has further accelerated people's inclination towards upgrading their homes to create comfortable outdoor areas and multi-functional spaces.This has spurred the sales of wooden decking material across residential as well as commercial construction sectors. Moreover, the increasing popularity of eco-friendlyand sustainable construction practices along with rising investments in green building projects are some key factors propelling the consumption of wooden decking made from renewable and naturally durable wood types in the recent past.
Segment Analysis
The global wooden decking market is dominated by the non-composite or solid wood segment. This is because solid wood decking provides a natural aesthetic appeal and longevity. Though wood composites are gaining popularity due to lower maintenance, solid wood still holds over 50% of the market share due to consumer preference for an authentic wood look and feel.
Key Takeaways:
Global Wooden Decking Market Demand is expected to witness high growth.
Regional analysis:
North America region currently dominates the global wooden decking market with over 35% share. This is because of rising outdoor construction activities in the United States. The region is expected to continue its dominance over the forecast period owing to higher disposable incomes and consumer preference for wooden decking over other alternatives. The Asia Pacific region is projected to grow at the fastest pace during the forecast period. This is attributed to increasing residential and commercial construction in China and India coupled with rising consumer spending on outdoor spaces.
Key players:
Key players operating in the wooden decking market are The AZEK Company Inc., Deckorators Inc., Deck Solutions LLC, DuraLife Decking & Railing Systems, Fiberon, Humboldt Sawmill Company LLC, Kebony AS, Metsa Wood Thermory, Trex Company Inc., United Construction Products Inc. (BISON Innovative Products), Mendocino Forest Products Company LLC, NeoTimber, Shubh Composites. These companies have a widespread distribution and manufacturing network across major regions worldwide.
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