Wooden Decking Industry to Grow Substantially at 1.37% CAGR

Wooden decking is used to make patios, garden landscaping, flooring, walls, extend living areas, railing, among others. Wooden decking has gained popularity in recent years since consumers prefer wooden decking for its longevity and visually aesthetic appeal. According to Market Research Future (MRFR), the global wooden decking industry is estimated to grow at 1.37% CAGR during the forecast period.
The market is expected to witness rapid growth due to the increase in disposable income of the consumers globally, leading to a rise in demand for home renovation projects. Additionally, the rising awareness and need for environmentally sustainable and low maintenance products are driving the market. However, the availability of several substitutes of comparatively low cost is a restraint to the wooden decking market.

Segmental Analysis

The global wooden decking market has been segmented by type, application, end-user, and region.
Based on type, the market has been segmented into pressure-treated wood, redwood, cedar wood, tropical wood, and others. Among these, pressure treated wood is accounted for the largest market share, due to its durability, longevity, and its ability to endure extreme moist and icy weather conditions. It can also be treated with waterborne preservatives for resistance to internal decaying, rotting, and insect repellant, thus raising the demand for pressure treated wood. It is most commonly used in the residential and infrastructural industry.
Based on application, the market has been segmented into floor, wall, railing, others. Changing lifestyle and interior designing trends have encouraged the market growth of this segment, owing to the aesthetic value and environmental sustainability of wooden furnishings. Significant growth is estimated over the forecast period, in the floor segment of the wooden decking market owing to its growing popularity. Railing segment is also a strong consumer preference and is estimated to show steady market growth over the forecast period. The wall segment has a significant market share in APAC regions, especially in China and Japan.
Based on end-user, the market has been segmented into residential and non-residential. There is a massive demand for wood decking in the residential segment, owing to the rise in disposable income of consumers which has an impact on their lifestyles. Additionally, the construction industry has developed significantly, which subsequently contributes to the wooden decking market. The non-residential segment is estimated to grow substantially over the forecast period, influenced by the growth in sectors such as hospitality, education, retail and corporate.
By region, the global wooden decking market has been segmented into North America, Europe, Asia Pacific and rest of the world.

Regional Analysis

North America has been accounted for the largest market share and is estimated to witness significant market growth influenced by factors such as the growing demand for low maintenance products, growth of commercial and residential sectors in the U.S., and increasing consumer awareness and demand for sustainable products.
Europe is the second largest market for wooden decking, primarily led by the improved lifestyle of the consumers in this region.
Asia Pacific is assessed to rise at the highest CAGR over the forecast period, driven by the fast growth of the construction industry, the steadily growing popularity of wooden decking. The market for wooden decking in this region is majorly growing in emerging economies such as China, Japan, India, and Singapore.

Key Players

The key market players in the global wooden decking market include Mohawk Industries, Inc. (U.S.), Weyerhaeuser Company (U.S.), Vetedy Group (U.S.)., Universal Forest Products, Inc. (U.S.), Trex Company, Inc. (U.S.), Cox Industries Inc. (U.S.), Mendocino Redwood Company (U.S.), Shaw Industries Group, Inc. (U.S.), West Fraser Timber Co. Ltd. (Canada), UPM-Kymmene Corporation (Finland), Metsa Group (Finland), Setra Group (Sweden), James Latham plc (U.K.), Humboldt Redwood Company and Danzer (Austria).