The Global Wooden Decking Market Is Estimated To Record a CAGR of Around 2.93% During The Forecast Period
The global Wooden Decking market is projected to be valued at USD 24.21 Billion by 2033, recording a CAGR of around 2.93% during the forecast period. A deck is a flat, weight-bearing surface that is raised above the ground, similar to an outside building’s floor. Decking made of wood and timber may be used in many different ways. It is used for landscape landscaping, to increase a home’s living space, and to replace some stone-based features like patios. Decks can be built using treated wood, composite lumber, composite material, and aluminum.
The COVID-19 pandemic had a mixed impact on the wooden decking market. On the one hand, the pandemic has resulted in disruptions in the supply chain and reduced demand for wooden decking in some regions. The closure of sawmills and other wood processing facilities, as well as disruptions in transportation and logistics, have led to supply shortages and increased prices for wooden decking products. On the other hand, the pandemic has also led to an increase in demand for outdoor living spaces and home renovation projects, which has driven sales of wooden decking products. With more people spending time at home due to lockdowns and social distancing measures, many homeowners have turned to outdoor living spaces as a way to expand their living areas and enjoy nature.
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Segmental Analysis
The global Wooden Decking market has been segmented based on Type, Construction, End-User, and region.
Based on the Type, the Wooden Decking market is segmented based on Pressure Treated Wood, Redwood, Cedar, and Others. Redwood is expected to have the largest market share throughout the forecast period, while Resilience Training is expected to grow at the fastest rate.
Based on Construction, the global Wooden Decking market has been divided into New Construction, Renovation, and repair. The New construction segments are anticipated to dominate the market.
Based on End Users, the global Wooden Decking market has been divided into Residential, Non-residential. The Non-residential segments are anticipated to dominate the market.
Regional Analysis
The Wooden Decking market is divided into six regions: North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa. North America and Europe are mature markets for wooden decking, with a high penetration rate of wooden decking in residential and commercial construction projects. However, these regions continue to experience steady demand for wooden decking due to the durability and aesthetic appeal of wood. The Asia-Pacific region is a growing market for wooden decking due to the increasing urbanization and growing construction industry in countries such as China and India. The region is also home to a large number of wood species, which provides a variety of options for wooden decking products. Latin America and Africa are emerging markets for wooden decking, with increasing demand from the residential construction industry. The availability of tropical wood species, which are highly durable and resistant to insect and fungal attacks, has also contributed to the growth of the wooden decking market in these regions. The Middle East region has a small market share for wooden decking due to the harsh climate and limited availability of wood resources. However, some countries in the region are investing in sustainable wood products to meet the growing demand for wooden decking in the residential and commercial construction industries.
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