Wooden Decking Market - By Wood Type (Pressure treated Wood, Redwood, Cedar, Tropical Hardwood, Wood-plastic Composites, Others), By Category (Indoor, Outdoor), By Application (Railing, Floor, Wall, Others), By End User (Residential, Commercial), By Distribution Channel (Online, Offline), Forecast 2024 – 2032

Published Date: July - 2024 | Publisher: MRA | No of Pages: 240 | Industry: Construction | Format: Report available in PDF / Excel Format

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Wooden Decking Market - By Wood Type (Pressure treated Wood, Redwood, Cedar, Tropical Hardwood, Wood-plastic Composites, Others), By Category (Indoor, Outdoor), By Application (Railing, Floor, Wall, Others), By End User (Residential, Commercial), By Distribution Channel (Online, Offline), Forecast 2024 – 2032

Wooden Decking Market Size

Wooden Decking Market size was valued at USD 5.40 billion in 2023 and is anticipated to register a CAGR of 7.1% between 2024 and 2032, fueled by a combination of aesthetic appeal, sustainability trends, and outdoor living popularity. Homeowners and businesses alike are increasingly investing in outdoor spaces, leading to a rise in demand for wooden decks to enhance aesthetics and functionality. The market is driven by various wood types, including pressure-treated lumber, cedar, and redwood, with each offering unique benefits in terms of durability, appearance, and maintenance.  

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The building industry is on a roll, especially when it comes to building houses and businesses. This means more people are looking for wooden decks to make their outdoor spaces look great. In July 2022, the U.S. Census Bureau said that the value of homes being built in the United States hit $929.7 billion, which is a lot more than the $815.5 billion recorded in July 2021. That's a 14% rise! Many older homes are still around, which means there is a growing market for remodeling. Older homes often need new stuff or repairs or replacements for things that are outdated. People also want to spend more time outside, so they are making their outdoor spaces more comfortable and beautiful. They want places where they can relax and have fun.

As we become more aware of the need to live in harmony with the environment, the home construction industry is turning to sustainable and biodegradable materials. This means using wood from forests that are managed responsibly to protect the trees and their surroundings. It's all part of a bigger push for green building practices. In India, there's a huge investment in the housing market, with billions of dollars flowing in over the next few years. This means building millions of new homes, which is great news for the wooden decking industry. Affordable housing is becoming more common, and by 2024, we should see a 70% increase in its availability. As people invest in their homes, whether it's renovations or new builds, they're choosing wooden decks, boosting the market even more.

Wooden Decking Market Report Attributes
Report Attribute Details
Base Year 2023
Wooden Decking Market Size in 2023 USD 5.40 Billion
Forecast Period 2024 to 2032
Forecast Period 2024 to 2032 CAGR 7.1%
2032 Value Projection USD 9.70 Billion
Historical Data for 2021 - 2023
No. of Pages 370
Tables, Charts & Figures 247
Segments covered Wood type, category, application, end user, distribution channel and region
Growth Drivers
  • Increase in the construction industry
  • Growing trend of outdoor living spaces
  • Shift towards sustainable and biodegradable building materials
  • Increase in the residential sector
Pitfalls & Challenges
  • Availability of substitutes
  • Concerns related to deforestation

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As sustainability becomes a key focus for consumers, alternatives like composite decking, made from recycled plastics and wood fibers, are gaining popularity due to their durability and lower environmental impact. These substitutes offer a similar aesthetic to wood while requiring less maintenance, further challenging the traditional market. Additionally, growing awareness of deforestation's environmental impact has led to stricter regulations and consumer hesitance about using non-sustainably sourced wood. This has prompted a shift toward certified sustainable forestry practices, yet the perception of environmental harm continues to pose a challenge.  

Wooden Decking Market Trends

Environmental concerns are driving a preference for sustainable wood sources like FSC-certified wood or composite decking made from recycled materials. For instance, Weyerhaeuser is a major lumber supplier that actively promotes sustainable forestry practices and offers FSC-certified decking options, similar to GreenForest Lumber, SilvaWood International, etc.

Furthermore, consumers are increasingly seeking low-maintenance decking materials that require less staining, sealing, and cleaning. This is leading to the popularity of composite decking and pre-finished wood options. For instance, companies like Wolf Decks specializes in pre-finished cedar decking that requires minimal ongoing maintenance compared to traditional untreated cedar.

Wooden Decking Market Analysis

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Imagine a vast marketplace where the world of wood takes center stage. It's like a grand buffet, with an array of wood types waiting to be savored. At the head of this table sits pressure-treated wood, the reigning champion. It's the workhorse of the bunch, offering a budget-friendly way to spruce up your deck. It's tough as nails, standing up to rot and hungry insects. No wonder it holds a whopping 36.1% of the market share! Redwood, cedar, and tropical hardwood are other popular choices, each with its own unique charm. But pressure-treated wood just keeps on shining. Its secret? It's everywhere you look, easy to find and a breeze to install. Plus, with the latest and greatest advances in treating techniques, it's lasting longer and performing better than ever before. Even as new materials enter the scene, pressure-treated wood remains a force to be reckoned with. It's the king of the wood market, holding its throne strong.

However, the market experienced a notable drop in 2023 compared to 2022 owing to the economic uncertainties, including fluctuations in housing markets, inflation in raw material prices, etc. During the COVID-19 pandemic lumber prices spiked due to the disruption in supply chains, which pushed up the  cost of wooden decking materials. Furthermore, as supply chains normalized, lumber prices began to stabilize in 2022 and continued to decrease in 2023. This made wooden decks less expensive but also potentially reduced urgency for some deck projects.

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Based on category, the wooden decking market is bifurcated into indoor and outdoor categories. In 2023, the indoor segment notably dominated the market, generating a revenue of USD 3.15 billion and is expected to reach USD 5.36 billion by 2032. Firstly, the increasing trend of indoor-outdoor living spaces, particularly in urban areas with limited outdoor space, has fueled demand for indoor wooden decking solutions.

Additionally, advancements in wood treatments and finishes have made indoor decking more durable, resistant to wear, and aesthetically pleasing, further driving its popularity among homeowners and commercial spaces alike. Moreover, the versatility of wooden decking allows for customization to match various interior design styles, enhancing its appeal and contributing to its sustained growth in the market.

When it comes to using wooden decking, people have a lot of different options. They can use it for railings, floors, walls, and even other things. But right now, the most popular way to use wooden decking is for floors. In fact, in 2023, people who make wooden decking for floors made a lot of money - almost 2.4 billion dollars! There are a few reasons why wooden flooring is so popular. First of all, it's a great way to make your outdoor space look nice. It looks natural and it can really make a backyard or patio look more inviting. Second, wooden decking is strong and can handle a lot of wear and tear. You can walk on it, dance on it, or even put furniture on it. And finally, more and more people are building outside spaces, like patios and decks. This means that the demand for wooden decking is going to keep growing. In fact, experts think that by 2032, the wooden decking market for floors will be worth about 3.8 billion dollars. That's a lot of wooden decking!

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The North America wooden decking market is expected to reach USD 2.79 billion by 2032. Firstly, the region has a strong tradition of outdoor living and recreational activities, driving significant demand for wooden decking in residential, commercial, and hospitality sectors. The culture of hosting outdoor gatherings and enjoying backyard spaces has led to widespread adoption of wooden decks as a preferred outdoor flooring solution.

North America has a booming construction industry, with a lot of new homes and businesses being built. These buildings often use wooden decking because it looks nice and lasts a long time. In the United States, the construction of new homes is a big business. In July 2022, it was worth almost $930 billion, which is a big jump from $815 billion in July 2021. And with home values rising, people are spending more money on making their homes better. The economy in North America is doing well, with steady growth and high wages. This gives people more money to spend on things like fixing up their homes, which is also good for the construction industry.

There is a decrease in the North American market owing to the decline in sales prices and volumes and the increase in wood raw material prices. For instance, Metsa Group’s pulp and sawn timber industry sales decreased by a significant amount in North America and Europe compared to 2022.

In terms of country, US is dominating the North America wooden decking market with revenue of around USD 1.21 billion in the year 2023 and expected to reach around USD 1.97 billion by 2032. The U.S. boasts a vast land area with diverse climates, providing ample opportunities for outdoor living and recreational activities year-round, thus driving demand for wooden decking. Secondly, the country has a strong tradition of homeownership and a culture that values outdoor spaces, leading to widespread adoption of wooden decks in residential properties.

The construction industry is booming in the US, and that's great news for wooden decking! Homebuilders and businesses love using wood for decks because it looks great and lasts a long time. In fact, there were over 919,000 construction companies in the US at the start of 2023. And get thisbuilding permits in August 2023 were almost 7% higher than the previous month! That's because the economy is doing well, people are spending more money, and they want to enjoy their backyards with beautiful wooden decks. Plus, the US has a lot of companies that make and sell wooden decking, so it's easy to find what you need. And best of all, there are clear rules and regulations in place to make sure wooden decking is safe and meets high standards. All of this makes the US the top dog in the wooden decking market in North America.

In terms of country, the U.K. is dominating the Europe market with revenue of around USD 290.7 million in the year 2023 and expected to reach around USD 455.1 million by 2032. The UK's temperate maritime climate encourages outdoor living, making wooden decking a popular choice for enhancing outdoor spaces. Additionally, the UK boasts a strong tradition of garden culture, with a high value placed on outdoor leisure and entertainment, driving the demand for wooden decking in residential properties.

Moreover, the country's robust construction industry, fueled by urbanization and infrastructure development projects, provides ample opportunities for the incorporation of wooden decking in both residential and commercial construction projects. Furthermore, stringent environmental regulations and a growing emphasis on sustainable practices have prompted the adoption of certified sustainably sourced wood, further boosting the market for wooden decking in the UK.  

In terms of country China dominated with the overall market share of around 22.3% in the Asia Pacific market and is expected to reach USD 654.9 million by 2032. This is due to the nation's rapid urbanization and burgeoning construction industry, which has propelled the demand for outdoor living spaces and eco-friendly building materials.

Imagine a country with a huge population, and a lot of people from the middle class who are working hard to make their lives better. These people are really interested in finding homes that have nice outdoor spaces, like wooden decks. Plus, China has a long history of using wood in building houses and decorating gardens. So, it makes sense that people there love wooden decks. The government is also pushing for people to build green buildings that are better for the environment. This means that there's more demand for wood that's been certified as sustainable. For example, the government has big plans to build new cities and move millions of people there over the next decade. So, there's going to be a lot of demand for new homes, and many of them will have wooden decks.

Wooden Decking Market Share

The key players operating in the market are UPM, Weyerhaeuser Company, West Fraser, Metsä Group, and James Latham PLC all together comprises a market share of 20 - 25% in 2023. The market is highly fragmented. These players focus on strategic partnerships and new screen size launches & commercialization for market expansion. The market offers a wide variety of wood types such as pressure-treated, cedar, redwood, composite materials, and styles such as traditional, grooved, hidden fastener. This allows various players to compete based on their expertise in specific product categories.

Hey there! So, big companies like West Fraser and Metsa have been taking a hit financially. West Fraser, for example, has seen a drop in its production of a type of wood called Southern Yellow Pine (SYP). This is because they've had to slow down their operations in Florida and stop holding so much SYP in storage. But on the flip side, costs have gone down for these companies. Things like materials, energy, workers, and shipping are less expensive. West Fraser has also saved some dough by using less expensive wood and shipping less SYP. Plus, they had a lucky break with some inventory adjustments that benefited them to the tune of $77 million. All in all, they're holding less inventory because it's cheaper and they have less of it on hand. So, while their sales are down, their costs are also lower. It's a bit of a mixed bag right now.

Wooden Decking Market Companies

Major players operating in the wooden decking industry include

  • Alfresco Floors
  • AZEK Building Products
  • DuraLife
  • Fiberon
  • Humboldt Redwood Company
  • Inovar Floors
  • James Latham PLC
  • Kebony
  • Koppers
  • Metsa Group
  • Thermory AS
  • Trex Company, Inc.
  • UPM
  • United Construction Products
  • Universal Forest Products
  • Vetedy Group
  • West Fraser 
  • Weyerhaeuser Company

Wooden Decking Industry News

  • In February 2024, Trex launched a comprehensive collection of Trex-branded deck fasteners and accessories. Featuring more than 120 SKUs, the new collection includes solutions for every composite deck fastening and finishing need such as color-matched screws and plugs to specially engineered bits, depth setters and clips – including several first-to-market innovations.
  • In November 2023, AZEK Company announced their new product lineup for 2024. The products are from its TimberTech, AZEK Exteriors and StruXure brands, including the debut of an innovative aluminum framing product, new decking and porch colors, expanded railing offerings, a new siding product, and a Cabana X model now available with a modular design.
  • In August 2023, Trex launched the new community recycling challenge called the NexTrex Recycling Challenge. Trex has made the process easier and more equitable so more participants have the opportunity to earn recognition and rewards for their recycling efforts. Under the new structure, any participating organization that collects at least 1,000 pounds of recycled plastic film during a 12-month period qualifies to receive a composite bench from the Trex Outdoor Furniture Collection.
  • In August 2023, Metsä Group and SRV, a Finnish construction firm, signed a deal to set up a new Kerto LVL mill in Äänekoski, Finland. Kerto LVL, manufactured by Metsä Group, is a laminated veneer lumber widely utilized in construction endeavors. The raw material is sawn into LVL planks, beams, or panels. This strategic move is poised to enhance Metsä Group's wooden deck production capacity.
  • In July 2023, Oldcastle APG's renowned brand, MoistureShield®, entered into a strategic partnership with Mid-Am Building Supply, Inc. to extend the distribution network of its cutting-edge composite decking collection. This collaboration aims to make MoistureShield® products more accessible to customers in Centralia, Illinois; Chillicothe, Missouri; Moberly, Missouri; Mt. Pleasant, Iowa; and Spring Hill, Kansas.

The wooden decking market research report includes in-depth coverage of the industry, with estimates & forecast in terms of volume (Thousand Units) and revenue (USD Million) from 2021 to 2032, for the following segments

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Market, by Wood Type

  • Pressure treated wood
  • Redwood
  • Cedar
  • Tropical hardwood
  • Wood-plastic composites
  • Others (Mahagony, teak, tigerwood, etc.)

Market, by Category

  • Indoor
  • Outdoor

Market, by Application

  • Railing
  • Floor
  • Wall
  • Others

Market, by End User

  • Residential
    • New construction
    • Remodelling 
  • Commercial
    • New construction
    • Remodelling

Market, by Distribution Channel

  • Direct sales
  • Indirect sales

The above information is provided for the following regions and countries

  • North America
    • U.S.
    • Canada 
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Rest of Asia Pacific 
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America 
  • MEA
    • UAE
    • Saudi Arabia
    • South Africa
    • Rest of MEA

 

 

Table of Content

Report Content

Chapter 1   Methodology & Scope

1.1    Market scope & definition

1.2    Base estimates & calculations

1.3    Forecast parameters

1.4    Data sources

1.4.1    Primary

1.4.2    Secondary

1.4.2.1    Paid sources

1.4.2.2    Public sources

Chapter 2   Executive Summary

2.1    Industry 3600 synopsis, 2021 - 2032

Chapter 3   Industry Insights

3.1    Industry ecosystem analysis

3.1.1    Factor affecting the value chain

3.1.2    Profit margin analysis

3.1.3    Disruptions

3.1.4    Future outlook

3.1.5    Manufacturers

3.1.6    Distributors

3.1.7    Retailers

3.2    Regulatory landscape

3.3    Impact forces

3.3.1    Growth drivers

3.3.1.1    Increase in the construction industry

3.3.1.2    Growing trend of outdoor living spaces

3.3.1.3    Shift towards sustainable and biodegradable building materials

3.3.1.4    Increase in the residential sector

3.3.2    Industry pitfalls & challenges

3.3.2.1    Availability of substitutes

3.3.2.2    Concerns related to deforestation

3.4    Growth potential analysis

3.5    Porter’s analysis

3.6    PESTEL analysis

Chapter 4   Competitive Landscape, 2023

4.1    Introduction

4.2    Company market share analysis

4.3    Competitive positioning matrix

4.4    Strategic outlook matrix

Chapter 5   Market Estimates & Forecast, By Wood Type, 2021 – 2032, (USD Million)

5.1    Key trends

5.2    Pressure treated wood

5.3    Redwood

5.4    Cedar

5.5    Tropical hardwood

5.6    Wood-plastic composites

5.7    Others (Mahagony, teak, tigerwood, etc.)

Chapter 6   Market Estimates & Forecast, By Category, 2021 – 2032, (USD Million)

6.1    Key trends

6.2    Indoor

6.3    Outdoor

Chapter 7   Market Estimates & Forecast, By Application, 2021 – 2032, (USD Million)

7.1    Key trends

7.2    Railing

7.3    Floor

7.4    Wall

7.5    Others

Chapter 8   Market Estimates & Forecast, By End User, 2021 – 2032, (USD Million)

8.1    Key trends

8.2    Residential

8.2.1    New construction

8.2.2    Remodelling

8.3    Commercial

8.3.1    New construction

8.3.2    Remodelling

Chapter 9   Market Estimates & Forecast, By Distribution Channel, 2021 – 2032, (USD Million)

9.1    Key trends

9.2    Direct sales

9.3    Indirect sales

Chapter 10   Market Estimates & Forecast, By Region, 2021 – 2032, (USD Million)

10.1    Key trends

10.2    North America

10.2.1   U.S.

10.2.2   Canada

10.3    Europe

10.3.1   Germany

10.3.2   UK

10.3.3   France

10.3.4   Italy

10.3.5   Spain

10.3.6   Rest of Europe

10.4    Asia Pacific

10.4.1   China

10.4.2   India

10.4.3   Japan

10.4.4   South Korea

10.4.5   Australia

10.4.6   Rest of Asia Pacific

10.5    Latin America

10.5.1   Brazil

10.5.2   Mexico

10.5.3   Rest of Latin America

10.6    MEA

10.6.1   UAE

10.6.2   Saudi Arabia

10.6.3   South Africa

10.6.4   Rest of MEA

Chapter 11   Company Profiles (Business Overview, Financial Data, Product Landscape, Strategic Outlook, SWOT Analysis)

11.1    Alfresco Floors

11.2    AZEK Building Products

11.3    DuraLife

11.4    Fiberon

11.5    Humboldt Redwood Company

11.6    Inovar Floors

11.7    James Latham PLC

11.8    Kebony

11.9    Koppers

11.10    Metsa Group

11.11    Thermory AS

11.12    Trex Company, Inc.

11.13    UPM

11.14    United Construction Products

11.15    Universal Forest Products

11.16    Vetedy Group

11.17    West Fraser

11.18    Weyerhaeuser Company
 

  • Alfresco Floors
  • AZEK Building Products
  • DuraLife
  • Fiberon
  • Humboldt Redwood Company
  • Inovar Floors
  • James Latham PLC
  • Kebony
  • Koppers
  • Metsa Group
  • Thermory AS
  • Trex Company, Inc.
  • UPM
  • United Construction Products
  • Universal Forest Products
  • Vetedy Group
  • West Fraser 
  • Weyerhaeuser Company

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