Global Wooden Decking Market Information Report, By Type (Pressure-Treated Wood, Redwood, Cedar Wood, Tropical Hardwood and Others), By Application (Floor, Wall, Railing and Others), By End User (Residential and Non-residential) and By Region – Forecast To 2023
Market Synopsis of Global Wooden Decking Market
Geographically, the global wooden decking market has been divided into four major regions as North America, Europe, Asia Pacific and Rest of the World. North America region, has accounted for the largest market share, in 2016, followed by Europe and Asia Pacific. Increasing demand for low maintenance building products, is driving the growth of the market in North America region. U.S. is the largest contributor in both global and North America wooden decking market. Commercial developments, and residential structures in the U.S., are anticipated to fuel the demand for market in the region. Additionally, consumer preference for green buildings and sustained investments in commercial real estate have also had positive influence on the growth of the market. Europe is the second-largest market for wood decking. Increasing repair and revamp activities of existing infrastructure, create huge potential for the market in future.
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Asia Pacific is expected to grow at the highest CAGR during the forecast period. Rapidly growing construction activities in the region, are driving the demand of the market. China, Japan, India, and Singapore are the major markets in Asia Pacific region. Growing residential and non-residential construction activities in the region, are driving the growth of the market. Additionally, growing awareness about wooden decking, among consumers, is also expected to provide opportunities for market growth. In rest of the world, Middle East region is expected to contribute, significantly, during the forecast period, mainly due to changing lifestyle and high growth in construction sector.
For this study, the global wooden decking market has been divided into three segments on the basis of type, application and end user. On the basis of type, the market has been segmented as pressure-treated wood, redwood, cedar wood, tropical hardwood and others. Among all types, pressure-treated wood accounts for the largest market share. Pressure-treated wood is durable and long lasting. It can withstand extremely moist and icy conditions. Upon being treated with waterborne preservatives, pressure-treated wood products become resistant to internal decaying, rots, and insects, which has increased its preference among customers. The product is widely adopted in residential and infrastructural buildings. On the basis of applications, the market has been segmented as floor, wall, railing and others. For aesthetic reasons, people prefer wooden deck on floorings, walls, and railings, which are needed to ensure personal safety on all but true ground level decks.
On the basis of application, the market has been segmented as residential and non-residential. Residential segment dominates the application segment of the market, and is expected to grow at the highest CAGR during the forecast period. Rise in demand for wood decking across the residential segment, attributed to changing consumer lifestyle and increased consumer disposable income. Moreover, the growing demand across the construction industry, and increased home improvement & renovation projects, also fuel the demand of the market in residential applications. Non-residential application is expected to contribute significantly in the market growth during the forecast period, mainly due to increase in hospitality, corporate offices, education, and retail sector.
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Deck is nothing but a flat surface that is able to support and withstand weight. Wooden decking is used to build patios, garden landscaping, extend living areas, railings, and much more. Various types of wood, are used to make a wooden decking.
Hence, global wooden decking market is expected to grow at CAGR of 1.37% during the forecast period.
The Prominent Players in the wooden decking market include Mohawk Industries, Inc. (U.S.), UPM-Kymmene Corporation (Finland), Weyerhaeuser Company (U.S.), West Fraser Timber Co. Ltd. (Canada), Universal Forest Products, Inc. (U.S.), Metsa Group (Finland), Setra Group (Sweden), James Latham plc (U.K.), Cox Industries Inc. (U.S.), Humboldt Redwood Company and Mendocino Redwood Company (U.S.), Vetedy Group (U.S.)., Trex Company, Inc. (U.S.), Danzer (Austria), and Shaw Industries Group, Inc. (U.S.).