by Wooden decking products such as boards, railing, and accessories provide an attractive appearance and enhance the aesthetic value of outdoor spaces in residential and commercial buildings. These products support weight bearing activities and provide protection against termites and fungal decay. Residential sector dominates the global wooden decking market driven by growing construction of swimming pools, gardens, and patios.
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:
Rising adoption of attractive wooden decks is a major trend propelling the market growth. Wooden decking products such as pressure treated tropical hardwood are increasingly being used in residential backyards, patios, and pool decks to enhance the aesthetic appeal. Their ability to withstand harsh weather conditions and require very less maintenance makes them suitable for commercial settings as well. Moreover, composite wooden decking which combines wood fibers or sawdust with plastic binder offers properties like durability and affordability. This has further increased their adoption in markets. However, growing environmental concerns related to harvesting of trees and depleting forest cover may hamper the market growth over the forecast period. Sustainable forest management and adoption of recycled wood products can provide new opportunities in the coming years.
SWOT Analysis
Strength: Wooden decking has a timeless aesthetic appeal and natural texture that enhance the outdoor space. It is environmentally sustainable and biodegradable material.
Weakness: Wooden decking requires maintenance like cleaning, staining or painting to protect it from weathering. It is susceptible to damage from moisture, insects and rot if not properly maintained.
Opportunity: Increasing consumer preference for sustainable and eco-friendly building materials is creating new opportunities for wood decking manufacturers. There is growing demand for composite and thermally modified wood decking that has better durability.
Threats: Plastic and composite decking materials pose competition due to their lower maintenance needs. Strict forest certification standards and sustainability regulations can increase production costs.
Key Takeaways
The global wooden decking market is expected to witness high growth.
Regional analysis:
North America dominates the global wooden decking market currently due to widespread construction and renovation activities for residential decking projects. The United States accounts for the largest share in the region. Europe is the second largest market led by countries like Germany, France and the UK. Asia Pacific is expected to be the fastest growing regional market with increasing construction spending in China, India and other developing nations.
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, and Tecnodeck (Mitera Group). These companies are focusing on expanding their product portfolio and global footprint through organic and inorganic growth strategies to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
