Wooden Decking Market Estimated to Record 4.75% CAGR During Forecast Period
Evolve Business Intelligence has published a research report on the Global Wooden Decking Market, 2023–2033. The global Wooden Decking market is projected to exhibit a CAGR of around 4.75%during the forecast period of 2023 to 2033.
Evolve Business Intelligence has recognized the following companies as the key players in the global Wooden Decking Market: Sundek Interio, United Construction Products, AZEK BUILDING PRODUCTS, Metsa Wood, Humboldt Redwood Company, DuraLife, Universal Forest Products, Deck Solutions, Trex Company, Thermory
More Information: https://evolvebi.com/report/wooden-decking-market-analysis/
Market Highlights
The Global Wooden Decking market is projected to be valued at USD 36.85 Billion by 2033, recording a CAGR of around 4.75% during the forecast period. Wooden decking refers to a construction material used to build outdoor living spaces such as patios, balconies, and decks. It is made of various types of wood species, including cedar, redwood, pressure-treated pine, and tropical hardwoods such as ipe and mahogany. Wooden decking boards are available in a range of sizes, textures, and finishes, and can be customized to fit the specific design and aesthetic preferences of the homeowner or builder. Wooden decking is valued for its durability, natural appearance, and ability to withstand outdoor weather conditions.
During the early stages of the pandemic, the wooden decking market experienced disruptions in the supply chain due to lockdowns and restrictions on international trade. Many sawmills and wood processing facilities had to shut down temporarily, causing delays in the production and delivery of wooden decking products. However, as the pandemic continued, there was a surge in demand for wooden decking as more people stayed home and invested in their outdoor living spaces. With international travel restrictions and limits on social gatherings, homeowners turned to outdoor living spaces such as decks and patios as a way to expand their living areas and enjoy the fresh air.
Segmental Analysis
The global Wooden Decking market has been segmented based on Product Type, Application, Construction
Based on the Type, the Wooden Decking market is segmented based on Pressure Treated Wood, Redwood, Cedar, and Others. During the projection period, the Redwood segment is expected to hold the largest market share. Redwood is a popular type of wood used for decking due to its natural resistance to rot and decay, as its attractive reddish-brown color. It is also relatively easy to work with and has good dimensional stability, making it a popular choice for decking projects.
Based on Construction, the global Wooden Decking market has been divided into New Construction, Renovation, and repair. The New Construction segment is expected to hold the largest market share. This segment is expected to hold a significant share of the market due to the growing demand for new construction projects in many regions around the world.
Based on Construction, the market has been divided into Non-residential. The Non-residential segment is expected to hold the largest market share. The Non-residential segment of the Wooden Decking Market typically includes commercial and public infrastructure projects such as hotels, resorts, theme parks, and public parks. This segment is expected to hold a significant share of the market due to the growing demand for outdoor spaces in commercial and public settings.
More Information: https://evolvebi.com/report/wooden-decking-market-analysis/
Regional Analysis
The Wooden Decking market is divided into five regions: North America, Europe, Asia-Pacific, South America, and the Middle East, &Africa. North America is a significant market for wooden decking and has historically been one of the largest markets for this product. The demand for wooden decking in North America can be attributed to several factors, including the popularity of outdoor living spaces and the widespread use of wood as a construction material in the region. In addition, the climate in many parts of North America is well-suited for outdoor activities, which has further increased demand for decking materials. However, it is important to note that the wooden decking market is global, and the relative dominance of any particular region can vary depending on a variety of factors such as economic growth, construction activity, and consumer preferences. Asia Pacific is expected to be a significant growth market for wooden decking in the coming years. The demand for wooden decking in the Asia Pacific can be attributed to several factors, including growing urbanization, rising disposable income, and increasing popularity of outdoor living spaces in the region. In addition, the construction industry in Asia Pacific is rapidly expanding, driven by factors such as population growth and infrastructure development, which are expected to drive demand for decking materials.
