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Market Research Report (MRFR) states in its new report that the wooden decking market is striving to surge at a CAGR of 1.37% during the forecast period (2017-2023). Deck refers to a flat surface, which is able to support as well as withstand weight. Wooden decking is extensively used for building patios, extend living areas, garden landscaping, railings, and much more. Different types of wood are used to make a wooden decking.Get Sample Copy@ https://www.marketresearchfuture.com/sample_request/4755
Market Drivers
A large portion of the global population at present prefer wooden deck floorings, railings and walls for the aesthetic appeal they offer to the finished building, coupled with the feel the natural wood brings along with it. Moreover, wooden decking has turned highly popular among consumers looking for decks that have longevity. Moreover, rapid urbanization paired with massive investments in infrastructural activities, particularly in the emerging economies in the Asia Pacific region are anticipated to work in the favor of the wooden decking market. Furthermore, increasing awareness about wooden decking among the consumers is slated to bring about a number of lucrative opportunities for the wooden decking market in the coming years.
Industry Trends
Modified wood is fast becoming common, with customers opting for a more eco-friendly and classic looking deck. Modified wood is more durable, denser, and needs no additional maintenance other than normal cleaning. Moreover, modified wood can be used on all kids of decking, such as pool decks. Therefore, modified wood is a fast-emerging trend in the wooden decking market, backed by new and more modern design ideas.
Market Segmentation
The global wooden decking market is segmented on the basis of type, application and end-user.
Type-based segments in the market include tropical hardwood, redwood, cedar wood, pressure-treated wood, and others. Among these, the pressure-treated wood holds the largest market share, as it is a pressure-treated wood which is highly durable and long lasting. This wood is able to withstand extreme moist as well as icy conditions. When it is treated with waterborne preservatives, the pressure-treated wood products turn highly resistant to internal decaying, insects and rots, thereby increasing its preference among customers. Moreover, the product is extensively adopted in residential as well as infrastructural buildings.
Application-wise, the market caters to floor, wall, railing and others. For aesthetic enhancement, a large percentage of population go for wooden deck on floorings, railings and walls, ensuring personal safety backed by strong ground level decks.
Depending on the application, the wooden decking market is segmented into residential and non-residential. The residential segment is leading the application segment in the global market, with it surging at the highest CAGR during the review period. The augmented demand for wood decking across the residential segment is the result of the changing consumer lifestyle coupled with growing consumer disposable income. Also, the increasing demand across the construction industry, in addition to increased home improvement & renovation projects, has managed to accelerate the market demand in residential applications. Whereas, the non-residential application is deemed to contribute substantially to the market growth during the conjectured period, largely owing to increase in hospitality, corporate offices, education, and the retail sector.
Regional Outlook
Region-wise, the global market for wooden decking has been segregated into the key regions of Europe, North America, Asia Pacific and the Rest of the World (RoW).
The region of North America grabbed the lion’s share with the largest market share in 2016, trailed by Europe and Asia Pacific. Augmented demand for low maintenance building products has been the main force behind the strong growth of the market in the region. The United States (U.S) is the biggest contributor in the global as well as North America wooden decking market. Commercial developments along with residential structures in the country is presumed to elevate the demand for wooden decking market in the region. Also, with consumers opting for green buildings coupled with sustained investments in commercial real estate have had a tremendous impact on the growth of the market. Going forward, the report acknowledges Europe as the second-largest market for wood decking. The region has managed to secure the said position in the global market on account of the Increasing repair and revamp activities happening for existing infrastructure, which creates massive potential for the market in the forthcoming years.
Asia Pacific market is projected to expand at the highest CAGR during the forecast period, on account of the rapidly growing construction activities in the region. Countries like Japan, China, India, and Singapore are the prominent markets in the region. Thriving residential and non-residential construction activities in the region have been highly instrumental in the growth of the market. Moreover, increasing awareness about wooden decking, among consumers works to offer opportunities for market growth. In rest of the world, the region of Middle East is bound to contribute largely to the global market during the forecast period, primarily owing to the changing lifestyle and high growth in construction sector.
Key Players
The key vendors in the wooden decking market include UPM-Kymmene Corporation (Finland), Mohawk Industries, Inc. (U.S.), Universal Forest Products, Inc. (U.S.), Shaw Industries Group, Inc. (U.S.)., Metsa Group (Finland), Setra Group (Sweden), Weyerhaeuser Company (U.S.), West Fraser Timber Co. Ltd. (Canada), Cox Industries Inc. (U.S.), James Latham plc (U.K.), Vetedy Group (U.S.)., Humboldt Redwood Company and Mendocino Redwood Company (U.S.), Danzer (Austria), Trex Company, Inc. (U.S.), among others.
Industry Update
December 2018 – CanWel Building Materials Group Ltd. has made the announcement that its subsidiary CanWel Building Materials Ltd. has acquired the lumber pressure treating plant along with related equipment and business, which was previously owned by Western Wood Treating Inc.
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