Wooden decking is a platform made from weather-resistant wood, mostly recycled plastic or composite materials that is installed on a home exterior, usually adjoined to a home. Wooden decking provides durable flooring for outdoor activities such as dining, relaxing and entertaining. It is widely used in residential and commercial buildings for aesthetic appeal and enhanced outdoor space. Some key product types of wooden decking include redwood, cedar, pressure-treated lumber and composite decking. Composite decking offers features like low maintenance, weather resistance and longer lifespan compared to traditional wood decking.
The global wooden decking market is estimated to be valued at US$ 23107.38 Mn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Increasing consumer preference for outdoor activities: The growing emphasis on outdoor living and recreational activities among consumers is expected to drive the wooden decking market growth over the forecast period. People are now more inclined towards spending leisure time with family and friends in outdoor backyards or patios. This growing popularity of outdoor entertainment areas has augmented the demand for wooden decking solutions across residential and commercial settings.
Rising preference for low maintenance composite decking: The increasing preference for composite decking over traditional wood decking can be attributed to its superior properties like weather resistance, low maintenance and longer lifespan free from warping, cracking or rotting. Composite decking does not require frequent repairing, sealing or staining like wood decking. This ease of use and durability is encouraging consumers to shift from wood to composite decking, thereby accelerating the market expansion.
The global wooden decking market is segmented into composite decking boards and wood decking boards. The composite decking boards segment dominates the market and accounts for around 65% of the total market share. This is primarily due to its longer lifespan and lower maintenance requirements as compared to wood decking boards. Composite decking boards are also not prone to warping, splitting, and rotting like wood decking boards.
Political: Favorable governmental regulations regarding deforestation and plantation of wood in different countries is helping the industry grow. Some nations have also levied strict import tariffs on wooden decking to promote local production.
Economic: Rise in residential and commercial construction activities coupled with increasing spending power of individuals on outdoor upgrade is fueling the market expansion. However, fluctuating raw material prices pose a challenge.
Social: Changing consumer preference towards aesthetically pleasing and eco-friendly outdoor surfaces is augmenting the demand. Wooden decking provides a natural look along with various texture and design options.
Technological: Advancements in composite decking materials allows to mimic the natural look of wood along with added advantages of longevity, low maintenance, and durability against rotting, warping and splinters. Some boards also offer lifetime warranty.
Global Wooden Decking Market Demand is expected to witness high growth over the forecast period. The North American region currently dominates more than 40% of the market owing to largest construction industry and favorable climatic conditions for outdoor spaces. Key players operating in the wooden decking market include The AZEK Company Inc., Deckorators Inc., Deck Solutions LLC, DuraLife Decking & Railing Systems, Fiberon, Humboldt Sawmill Company LLC, Kebony AS, Metsa Wood Thermory, Trex Company Inc., United Construction Products Inc.,Mendocino Forest Products Company LLC, NeoTimber, Shubh Composites, and Tecnodeck (Mitera Group).
North America represents the largest regional market. Presence of major construction industry, suitable climate, and consumer inclination towards eco-friendly solutions supports the regional growth.
Key players operating in the wooden decking market incorporate The AZEK Company Inc., Deckorators Inc., Deck Solutions LLC, DuraLife Decking & Railing Systems, Fiberon, Humboldt Sawmill Company LLC, Kebony AS, Metsa Wood Thermory, Trex Company Inc., United Construction Products Inc. The key players focus on new product development and acquisition strategies to strengthen their market position.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it