Wooden Decking Market Size, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3771
Wooden Decking Market size is majorly driven by increasing demand for luxurious homes in developing nations coupled with rising refurbishment and remodeling activities over the forecast timeframe. In the repercussion of 2009 economic recession, many homeowners were unwilling to invest in the repairing, refurbishment and decking projects due to persisting uncertainty. However, improving housing prices in most of the developed nations have invoked confidence in buyers across the globe. According to the IMF, in some countries the housing prices are increasing faster than the rent prices which is a good indication for the growth of global residential sector. All these factors together will drive product market in positive direction.
Wooden decks are flat surfaces that are able to provide support and withstand weight. These are used widely in luxury homes for generally outdoor applications such as construction of floors, rails across gardens. Globally the demand of luxury homes is on rise due to rise in per capita income, changing consumer aspirations and lifestyles. High disposable income enables citizens to spend their money on various amenities, to reflect lavish lifestyles. Moreover, in developed economies the wooden decking market size is expected to show substantial growth as the demand for luxury house will propel due to their ability to provide higher return on investment as these are one of the best performing assets in terms of value and will yield after a period of time. Availability of substitutes such as composite decking solutions which are easy to install and durable, coupled with high maintenance requirements for wooden decks is likely to hinder the market growth rate in near future.
There are different types of wooden decks that are used for various applications, among which the most common ones are pressure treated wood, redwood, cedar and tropical hardwood. Cedar is one of the most common choices for wood decks as they have better aesthetics and natural aroma. Decks made from these woods also provide resistance to insects, rots, etc. thus enabling them to hold decent share in the overall wooden decking market. However, these decks are too soft and are used majorly for balustrade and fencing applications. Pressure treated lumber decks are also used as these are less expensive as compared to cedar and redwood with same qualities. They have disadvantages such as inconsistent appearance, splitting, and easy staining resulting in higher maintenance, which results in less market attractiveness for these types of wooden decks.
On the basis of application, the wooden decking market size is segmented into railings, walls, floors and others. The others segment includes structures like pergolas, planters, etc. The product is used in all these applications to enhance the aesthetics of the houses. On the basis of end use sector, the market is segmented into residential and non-residential. Among these residential sectors is expected to hold the major share due presence of large number of residential building stock all across the globe. The non-residential includes all the commercial, institutional buildings where wooden decks are used for providing lavish and appealing look. Also, wooden decks are majorly used in row houses/single family houses rather than apartments.
On the basis of region, Europe is expected to hold the significant share in wooden decking market. In European Union residential stock is the biggest segment constituting around 75% of the total building stock. Of this residential stock, around 64% are row houses/single family houses. Countries such as UK, Ireland, Norway, Netherlands have more than 80% of single-family houses, and with recovery in residential sector due to rise in real estate prices the demand for wooden deck is also expected to show a positive growth rate over forecast timespan in region. Besides countries such as China, Brazil and Mexico will also show a decent growth due to increasing refurbishment and remodeling activities.
Some of the prominent players in wooden decking market are Sundek Interio, United Construction Products, AZEK Building Products, Metsa Wood, Humboldt Redwood Company, DuraLife, Kebony, Universal Forest Products, Deck Solutions, Koppers, Trex Company, Alfresco Floors, Thermory AS, etc.
Wooden Decking Market, By Type, 2014-2025 (USD Million)
- Pressure treated wood
- Tropical hardwood
Wooden Decking Market, By Application, 2014-2025 (USD Million)
The above information has been provided for the following regions and countries:
- North America
- South Korea
- Latin America
- South Africa
- Saudi Arabia
- Sundek Interio
- United Construction Products
- AZEK Building Products
- Metsa Wood
- Humboldt Redwood Company
- Universal Forest Products
- Deck Solutions
- Trex Company
- Alfresco Floors
- Thermory AS
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