Wooden Decking Market Growth Analysis | 2023-2028

Market Insights

The Wooden Decking Market was estimated at US$ 14.74 billion in 2022 and is expected to grow at a CAGR of 2.97% during 2023-2028 to reach US$ 17.63 billion in 2028.

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What is Wooden Decking?

Wooden decking refers to the construction of outdoor platforms or floors using wood materials. Typically made from hardwoods or softwoods, wooden decking provides a natural and aesthetically pleasing extension to outdoor spaces, such as patios, gardens, or poolside areas. The wooden boards are laid in a parallel pattern over a supporting structure, such as a joist system, to create a stable and level surface for walking, lounging, or entertaining. Wooden decking offers several advantages, including its warm appearance, durability, and ability to withstand various weather conditions with proper maintenance. It also provides a comfortable and safe surface, making it a popular choice for residential and commercial outdoor settings. However, regular maintenance, such as sealing and staining, is necessary to preserve the wood's integrity and prevent decay or splintering.

Market Dynamics

Key drivers fueling the Wooden Decking Market's growth throughout the projected period encompass:

• Escalating Interest: Demand for wooden decking is surging owing to a heightened fascination with outdoor living spaces and a preference for naturally appealing environments.

• Home Enhancement Trends: Increasing home renovation and outdoor area improvement efforts are propelling the integration of wooden decking in residential properties.

• Urban Growth Impact: The thriving construction industry and urban expansion drive the need for wooden decking in commercial spaces such as hotels, resorts, and restaurants, aiming to craft inviting outdoor areas for patrons.

• Diverse Material Range: The presence of multiple wood species, finishes, and designs offers consumers an extensive array of choices, catering to diverse tastes and inclinations.

• Green Consciousness: Environmentally aware consumers are exhibiting a preference for responsibly sourced and certified wood decking materials, fostering the adoption of sustainable and eco-friendly choices.

• Rivalry and Advancements: Manufacturers are consistently enhancing their wooden decking offerings, innovating with advanced treatments and coatings to heighten durability and diminish maintenance needs.

Segments Analysis

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By Construction Type

Based on the construction type, the market is segmented as repairs & remodeling and new constructions. The repairs & remodeling segment held the larger share of the market and is expected to remain dominant during the forecast period. Increasing repairs & remodeling activities to improve the aesthetics of the residential construction sector are the major factors behind the dominance of the segment over the next five years. 

By End-User Type

Based on the end-user type, the wooden decking market is segmented as residential and non-residential. The residential segment dominates the market, owing to a surge in its demand for improving aesthetics and recreational facilities in the outdoors of residential constructions.

Regional Analysis

In terms of region, North America is estimated to be the largest market, whereas Asia-Pacific is projected to be the highest-growing region in the market, fueled by its higher demand in emerging economies of the region such as China, India, and Japan. The highly growing construction industry along with rapid urbanization and rising disposable income in emerging economies such as China, Japan, and India, are the major growth factors of the Asia-Pacific’s wooden decking market during the forecast period.

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Key Players

Some of the major players in the wooden decking market are-

• UPM-Kymmene Oyj
• Weyerhaeuser Company
• West Fraser Timber Co. Ltd.
• UFP Industries, Inc.
• Metsä Group
• Setra Group AB
• James Latham plc
• Cox Industries, Inc.
• Humboldt Redwood Company and Mendocino Redwood Company
• Vetedy Group.

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Customization Option

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players).
• SWOT analysis of key players (up to three players).

Competitive Benchmarking

• Benchmarking of key players on the following parameters: product portfolio, geographical reach, regional presence, and strategic alliances.

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