Global Wooden Decking Market Size By Type (Pressure-Treated Wood, Redwood, Cedar), By Application (Building Materials, Rails & Infrastructure), By End-User (Residential, Non-Residential), By Geographic Scope and Forecast
Published on: 2024-08-06 | No of Pages : 320 | Industry : latest updates trending Report
Publisher : MIR | Format : PDF&Excel
Global Wooden Decking Market Size By Type (Pressure-Treated Wood, Redwood, Cedar), By Application (Building Materials, Rails & Infrastructure), By End-User (Residential, Non-Residential), By Geographic Scope and Forecast
Wooden Decking Market Size And Forecast
Wooden Decking Market size was valued at USD 0.98 Billion in 2024 and is projected to reach USD 1.09 Billion by 2031, growing at a CAGR of 1.31% from 2024 to 2031.
- Wood decking is a versatile and popular outdoor flooring option that improves the aesthetics practicality and value of both residential and commercial premises. Wooden decking which is often built of hardwoods such as cedar, redwood, or tropical hardwoods such as teak and mahogany provides an attractive and long-lasting surface for outdoor living spaces, patios, balconies and gardens. This adaptable material provides various benefits including natural beauty, warmth, and texture making it a popular choice among homeowners, architects, and landscape designers alike.
- The primary use of hardwood decking is to construct outdoor living areas such as patios, decks, and terraces. Wooden decks are a comfortable and functional extension of indoor living spaces allowing homeowners to appreciate nature’s beauty while relaxing or entertaining outside. Whether attached to a house or freestanding in a garden or backyard, wooden decks provide various platforms for holding events, dining al fresco, or simply relaxing in the fresh air. Wood’s warm, natural texture lends a rustic charm to outdoor spaces creating a pleasant ambiance that promotes relaxation and interaction.
- Design trends and consumer preferences are shaping the future of wooden decking which is increasingly focused on creating outdoor living areas that merge seamlessly with the natural surroundings while also promoting health and well-being. Biophilic design principles which highlight the relationship between humans and nature are driving the incorporation of hardwood decking into outdoor spaces to promote relaxation, rejuvenation, and social interaction.
Global Wooden Decking Market Dynamics
The key market dynamics that are shaping the wooden decking market include
Key Market Drivers
- Aesthetic Appeal and VersatilityWooden decking is adding to the aesthetic appeal boosting the visual appeal of outdoor spaces with its natural beauty and warmth. The vast choice of wood species, textures, and finishes enables homeowners and designers to create distinctive outdoor settings that represent their individual style preferences while complementing existing architectural aspects. Whether it’s the rich hues of mahogany, the timeless elegance of cedar, or the rustic beauty of reclaimed wood, wooden decking offers unlimited design choices for both residential and commercial uses.
- Durability and PerformanceDespite the introduction of alternative decking materials such as composite and PVC, wooden decking remains popular due to its inherent durability and performance attributes. High-quality hardwoods, such as ipe, teak, and cedar are extremely resistant to rot, decay, insects, and moisture providing lifespan and structural integrity in outdoor settings. Properly maintained wooden decks can survive harsh weather conditions, UV exposure, foot activity, and heavy furniture while preserving their beauty and functionality for many years.
- Sustainability & Environmental ConsciousnessIn an era of rising environmental awareness and sustainability concerns, hardwood decking stands out as a renewable and environmentally beneficial building material. Wooden decking that is responsibly produced from sustainably managed forests and recognized by organizations such as the Forest Stewardship Council (FSC) and the Sustainable Forestry Initiative (SFI) helps to save forests and biodiversity. By encouraging appropriate forestry practices, the wooden decking business helps to ensure the long-term health and resilience of global forest ecosystems.
Key Challenges
- Maintenance RequirementsOne of the key issues connected with hardwood decking is the extensive upkeep required to maintain its look and structural integrity. Moisture, UV radiation, bugs, and rot can all cause harm to wood. Cleaning, sealing, staining, and refinishing should be done on a regular basis to prevent rot, warping, splintering, and discoloration. Neglecting upkeep might result in costly repairs or early replacement of decking materials.
- Durability and LongevityAnother significant difficulty with hardwood decking is its sensitivity to wear and deterioration over time. Despite developments in wood treatment technology and the use of inherently robust species like cedar and redwood, hardwood decking is still susceptible to environmental and mechanical damage. Moisture, temperature variations, and insect activity can all weaken the structural integrity of hardwood decking resulting in decay, rot, and termite damage. Furthermore, regular foot traffic, heavy furniture, and exterior impacts can hasten wear and tear shortening the life of decking materials.
- Environmental ImpactWooden decking causes deforestation, habitat degradation, and carbon emissions. Wood decking materials are usually made by removing lumber from forests which can have negative environmental consequences such as habitat loss, soil erosion, and biodiversity loss. Furthermore, the transportation, processing, and treatment of wood products contributes to carbon emissions and environmental pollution. Furthermore, the use of pressure-treated lumber which contains chemical preservatives to increase durability and resist decay, raises concerns about the emission of dangerous substances into the environment as well as the risk to human health.
Key Trends
- Sustainable Materials and Eco-Friendly Practices One of the most prominent developments in the wooden decking industry is an increased emphasis on sustainability and eco-friendliness. With growing awareness of environmental issues and climate change, consumers are looking for decking materials that are responsibly sourced and made. This trend has resulted in the emergence of environmentally friendly decking solutions such as sustainably obtained wood species, salvaged wood, and composite decking constructed from recycled materials.
- Design Diversity and PersonalizationAnother important trend in wooden decking is the emphasis on design diversity and personalization which allows homeowners to build outdoor spaces that represent their individual styles and tastes. Today’s consumers are increasingly looking for personalized decking solutions that go beyond traditional rectangle layouts and standard wood treatments. Design advances such as modular decking systems, increase deck design flexibility and creativity by allowing homeowners to mix and match different materials, colors, and textures to get the desired effect.
- Low-Maintenance Solutions with Long-Term DurabilityAnother significant trend in hardwood decking is the development of low-maintenance solutions that provide long-term durability and performance in response to consumer desire for convenient outdoor living. Traditional wood decking requires regular maintenance such as cleaning, staining, and sealing to prevent weathering, fading, and deterioration. However, developments in wood treatment technology and composite materials have resulted in the development of decking solutions that require little maintenance and are more resistant to the outdoors.
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Global Wooden Decking Market Regional Analysis
Here is a more detailed regional analysis of the wooden decking market
North America
- According to Market Research analyst, North America is expected to dominate the wooden decking market. North America is expected to be the fastest-growing market for wooden decking over the forecast period. This expansion is driven by a number of fundamental causes including the United States growing population and its significant impact on residential development trends. As the population grows, so does the need for homes resulting in increased construction activity throughout the country.
- The expanding trend of outdoor living and leisure activities has increased demand for hardwood decking in the United States. With a growing emphasis on wellness, sustainability, and connection to nature, homeowners are investing in outdoor spaces that encourage leisure and recreation. Wooden decks provide a seamless extension of indoor living rooms allowing occupants to appreciate nature’s beauty while remaining comfortable at home.
- North America’s wooden decking market is predicted to increase significantly driven by factors such as population expansion, rising home remodeling expenditures, and the growing appeal of outdoor living. The United States, in particular, is a major driver of demand for wooden decking due to its huge and diverse population and vigorous home construction activity. As homeowners want to increase the value, appeal, and sustainability of their homes, hardwood decking remains a popular option for creating inviting and functional outdoor living spaces.
Europe
- Europe’s construction industry is expected to increase significantly with a compound annual growth rate. This development trajectory is being driven by a number of significant factors that are transforming the building scene across the continent. The building industry’s strong performance is the most important of these variables as there is an increase in demand for wood for use in construction applications. This increased demand is driven by a number of causes including expanding real estate investments, greater government spending on infrastructure projects, and favorable economic conditions.
- The increasing demand for real estate particularly in urban areas is one of the key drivers of growth in Europe’s building industry. Rapid urbanization combined with population growth and shifting demographic trends has created a spike in demand for residential, commercial, and industrial properties. As more people move to cities in quest of greater opportunities and higher living standards, the demand for housing and commercial spaces grows.
- Europe’s construction industry is expected to expand significantly owing to a combination of factors such as strong demand for wood in construction applications, increased investments in buildings and infrastructure, supportive monetary policies, demographic trends, and the sector’s contribution to global economic growth. As governments, businesses, and communities prioritize sustainable growth, innovation, and resilience, the construction industry will have a significant impact on the future of Europe’s built environment.
Global Wooden Decking MarketSegmentation Analysis
The Global Wooden Decking Market is segmented based on Type, Application, End-User, and Geography.
Wooden Decking Market, By Type
- Pressure-Treated Wood
- Redwood
- Cedar
Based on Type, the market is divided into Pressure-Treated Wood, Redwood, and Cedar. Cedar stands out as one of the most economical options for decking materials while offering resistance against rot, termites, and weathering. Meanwhile, Redwood, renowned for its durability is conducive to painting or staining and exhibits minimal warping tendencies. Despite being approximately 23% stronger than cedar both materials excel in the wooden decking market. Redwood’s strength coupled with cedar’s affordability and resilience underscores their appeal to homeowners and contractors alike catering to diverse preferences and budget considerations.
Wooden Decking Market, By Application
- Building Materials
- Rails & Infrastructure
Based on Application, the market is divided into Building Materials, Rails & Infrastructure. In the wooden decking market, the dominant application segment is building materials. This dominance can be attributed to the widespread use of wooden decking materials in residential and commercial construction projects. Wooden decks offer a blend of aesthetic appeal, durability, and versatility, making them a popular choice for outdoor living spaces, patios, and recreational areas. Additionally, wooden decking materials are relatively cost-effective compared to alternative options such as composite or PVC decking making them accessible to a broader range of consumers.
Wooden Decking Market, By End-User
- Residential
- Non-Residential
Based on End-User, the market is divided into Residential and Non-Residential. Escalating energy expenses and growing recognition of the advantages of energy-efficient housing are propelling market expansion in residential construction. Residential sector holds the dominant share. Additionally, heightened new construction activities in numerous emerging economies are anticipated to elevate the utilization of wooden decking materials. Particularly, the construction sector in India is forecasted to generate significant opportunities for wooden decking, particularly in the residential segment. This surge is attributed to the increasing demand for modern housing solutions and the adoption of sustainable building practices. As homeowners seek to mitigate energy costs and enhance environmental sustainability, the appeal of wooden decking as a renewable and eco-friendly construction material is expected to rise further driving growth in the residential construction market globally.
Wooden Decking Market, By Geography
- North America
- Europe
- Asia Pacific
- Rest of the World
Based on Geography, the Wooden Decking market is classified into North America, Europe, Asia Pacific, and the Rest of the world. North America is forecasted to lead in market growth driven by factors such as population growth in the United States fueling residential construction and subsequent demand for wooden decking. Moreover, rising home improvement spending is significantly influencing the country’s demand for wooden decking materials. As the population continues to increase, particularly in urban areas, there’s a growing need for residential spaces leading to heightened construction activity.
Key Players
The Wooden Decking Market study report will provide valuable insight with an emphasis on the global market. The major players in the market are Cox Industries, Inc., Universal Forest Products, Inc., Setra Group, Metsä Group, James Latham PLC, Humboldt Redwood Company, Weyerhaeuser Company, Vetedy Group, UPM-Kymmene Corporation, West Fraser Timber Co. Ltd., and Mendocino Redwood Company.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
Wooden Decking Market Recent Developments
- In July 2023, Mid-Am Building Supply, Inc. and Oldcastle APG’s formed a strategic alliance to expand the distribution network for their MoistureShield composite decking collection. This agreement intends to make MoistureShield products more accessible to clients in Missouri; Mt., Chillicothe, Missouri; Moberly, and Centralia, Illinois.
- In August 2023, Metsä Group and SRV, a Finnish construction company, reached an agreement to build a new Kerto LVL mill in Äänekoski, Finland. Kerto LVL, produced by the Metsä Group, is a laminated veneer lumber used in construction projects. The billet is sawed into LVL planks, beams, and panels. This strategic development will allow Metsä Group to boost its wooden deck production capacity.
Report Scope
REPORT ATTRIBUTES | DETAILS |
---|---|
STUDY PERIOD | 2021-2031 |
BASE YEAR | 2024 |
FORECAST PERIOD | 2024-2031 |
HISTORICAL PERIOD | 2021-2023 |
UNIT | Value (USD Billion) |
KEY COMPANIES PROFILED | Cox Industries, Inc., Universal Forest Products, Inc., Setra Group, Metsä Group, James Latham PLC, Humboldt Redwood Company, Weyerhaeuser Company, Vetedy Group, UPM-Kymmene Corporation. |
SEGMENTS COVERED | By Type, By End-User, By Application, And By Geography. |
CUSTOMIZATION SCOPE | Free report customization (equivalent to up to 4 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
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