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Rapid Growth Expected in the Global Wooden Decking Market by 2022

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Ben Wood
Rapid Growth Expected in the Global Wooden Decking Market by 2022

The global wooden decking market is estimated to be valued at US$20,851.70 million in 2021 and is projected to reach US$ (incorporate given market value for 2022) Bn or Mn in 2022, with a CAGR of 5.27% during the forecast period of 2022-2030, as stated in a new market research report by Coherent Market Insights.

Market Overview: Wooden decking refers to the construction of outdoor decks made from wood materials. These decks provide several advantages, including enhancing the aesthetics of outdoor areas, creating additional living spaces, and adding value to residential and commercial properties. The rising demand for eco-friendly and sustainable construction materials, coupled with the growing popularity of outdoor living spaces, is driving the market growth. The need for wooden decking products is associated with their durability, resistance to weather conditions, ease of installation, and low maintenance requirements.

Market Key Trends: One key trend in the wooden decking market is the increasing demand for composite decking materials. Composite decking offers several advantages over traditional wood decking, such as better resistance to moisture, rot, and insect infestation, as well as enhanced durability. Composite materials also offer a wider range of design options, including different colors, textures, and finishes, allowing customers to customize their outdoor spaces according to their preferences. The growing awareness about the environmental impact of traditional wood decking has also fueled the demand for eco-friendly composite decking options. Thus, the market is witnessing a shift towards composite decking materials, driving the growth of this segment.

Segment Analysis:

The wooden decking market can be segmented based on material type, end-use industry, and distribution channel. In terms of material type, the market can be divided into pressure-treated wood, redwood, cedar, and others. Among these, pressure-treated wood dominates the market due to its cost-effectiveness, durability, and resistance to decay and insect damage. Pressure-treated wood is widely used in residential and commercial constructions, as well as in outdoor landscaping projects. It offers several advantages such as enhanced strength, improved stability, and resistance to extreme weather conditions. As a result, it holds a significant market share in the wooden decking industry.

Key Takeaways:

The global wooden decking market is expected to witness high growth, exhibiting a CAGR of 5.27% over the forecast period of 2022-2030. This growth can be attributed to various factors. Firstly, the increasing demand for outdoor living spaces and the growing trend of outdoor renovations and landscaping projects are driving the market. Wooden decking provides an aesthetically pleasing and functional solution for creating outdoor leisure areas, which has gained popularity among homeowners and commercial property owners.

Secondly, the rising focus on eco-friendly and sustainable building practices is fueling the demand for wooden decking. Wood is a renewable and recyclable material, and advancements in wood treatment technologies have improved its durability and resistance to environmental factors. This has resulted in the adoption of wooden decking as a sustainable alternative to other materials such as plastic and composite decking.

Regional analysis reveals that North America is the fastest-growing and dominating region in the wooden decking market. This can be attributed to the high demand for outdoor living spaces, increasing construction activities, and the presence of key players in the region. North America is witnessing a surge in residential and commercial construction projects, which is driving the demand for wooden decking. Additionally, the region has favorable climatic conditions that support outdoor leisure activities and the use of wooden decking.

Key players operating in the wooden decking market include 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 product innovation, expanding their distribution channels, and strategic partnerships to gain a competitive edge in the market.

Read More:

https://www.newswirestats.com/wooden-decking-market-is-estimated-to-witness-high-growth-owing/

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