Wooden Decking Market Trends

Global Wooden Decking Market Overview

Wooden Decking Market Size was valued at USD 5.30 Billion in 2023. The wooden decking industry is projected to grow from USD 5.55 Billion in 2024 to USD 7.7 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.18% during the forecast period (2024 - 2032). The demand for complex construction in industrialized nations and an increase in home restoration and repair projects are the key market drivers enhancing market growth.                   

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Wooden Decking Market Trends

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  the expanding market for renovation and remodeling projects is driving the market growth

  
  

Market CAGR for wooden decking is being driven by the global economy's construction sector, which is steadily growing. Asia-Pacific, North America, the Middle East, and Africa are experiencing considerable expenditures in the construction and restoration industries because of the numerous opportunities available, the increasing need for structures, and the growing populations. People embrace hardwood or timber decking because it can be used in garden landscaping to increase a home's living space and replace stone-based features like patios. Because of this reason, global living standards are rising.

Additionally, in high-rise commercial and residential buildings with rooftop decks, "green spaces" or "sky parks" are frequently constructed using urban landscaping techniques. Numerous landscape architecture companies focus on these areas' design, construction, and maintenance due to the increased popularity of outdoor living. Building new structures, repairing existing ones, and renovating existing ones regularly include using wooden decking in the residential sector. Wooden decking is utilized in residential construction for various purposes, including flooring, walkways, swimming pool decks, cladding, and siding. For instance, the Chinese government outlined ambitious development plans that included preparations for moving 250 million people to its new megacities over the next ten years.

Consequently, there may be a sizable market opportunity for wooden decking for various building construction applications, enhancing the overall quality. The building industry in Japan is projected to grow as a result of the events that were hosted there. In addition to commercial, retail, and residential space, the Yaesu redevelopment project also includes hotel, residential, retail, and educational facilities. Due to these growing development initiatives, there may be a rise in demand for wooden decking. The demand for wooden decking is expected to rise due to such advancements and plans, which are expected to coincide with the increase in worldwide remodeling and refurbishment activities. For instance, Over the next six years, housing investment in India is anticipated to reach USD 1.3 trillion. It is expected that 60 million new dwellings will be built. In 2024, the number of affordable housing options is anticipated to increase by almost 70%. The "Housing for All by 2022" project of the Indian government is another significant game-changer for the industry. By 2022, this plan hopes to construct more than 20 million low-cost dwellings for urban dwellers. This will give the building of homes a significant boost. Thus, rising remolding projects drive the wooden decking market revenue.

Wooden Decking Market Segment Insights

Wooden Decking Type Insights

The global wooden decking market segmentation, based on type, includes pressure-treated wood, redwood, cedar, and tropical hardwood. The pressure-treated wood segment dominated the market, accounting for 36% of market revenue (1.83 Billion). This is due to the fact that pressure-treated wood is more cost-effective and lasts longer due to its durability and strength. When exposed to icy and subzero conditions, it is very skilled at keeping out moisture and preventing cracking.

Wooden Decking Application Insights

The global wooden decking market segmentation, based on applications, includes floor, wall, and railing. The floor category generated the most income (42%), with the highest CAGR. Wooden deck flooring is frequently used to cover outdoor surfaces. Decking is a practical, flexible, and affordable design choice for adorning homes or spaces with outdoor spaces. An environmentally friendly choice that's great for patios, gardens, and poolside areas. The fundamental advantage of decking is that it is sustainable, guaranteeing its long-term success. Because of its excellent drainage capacity, it may be installed on any surface.

Wooden Decking End-User Insights

The global wooden decking market segmentation, based on end-user, includes residential and non-residential. The residential category generated the most income (75.9%), with the highest CAGR. As people get affluent, they tend to care more about their homes' inside and outside appearance. As a result, the market for wooden decking is expanding. People in developing nations desire housing that resembles their wealthier Western counterparts. As a result, they are purchasing and employing wooden decking considerably more frequently in their homes.

Figure 1: Global Wooden Decking Market, by End-User, 2022 & 2032 (USD Billion)                         

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Wooden Decking Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American wooden decking market area will dominate this market, as the regional market has grown due to the huge need for inexpensive building supplies to maintain, which is one aspect of the North American market's expansion. Products that are simple to maintain are likewise preferred by the local owners of residential and commercial properties.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: GLOBAL WOODEN DECKING MARKET SHARE BY REGION 2022 (USD Billion)                       

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Europe's wooden decking market accounts for the second-largest market share due to increased activity in the market for residential and commercial building rehabilitation and repair is what's fueling growth in this area. Further, the German wooden decking market held the second-largest market share, and the UK wooden decking market was the second-largest growing market in the European region.

The Asia-Pacific wooden decking market is expected to grow at the fastest CAGR from 2023 to 2032. Because of the rise in demand for environmentally friendly and low-maintenance decking options, the development outlook for the China market is still favorable. Increasing urbanization, rising income, shifting lifestyles, and higher purchasing power are some drivers driving the Chinese wooden decking market. The need for wooden decks is rising as outdoor spaces, such as balconies and rooftops in high-rise buildings, are expanding quickly. Moreover, China’s wooden decking market held the largest market share, and the Indian wooden decking market was the fastest-growing market in the Asia-Pacific region.

Wooden Decking Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development to expand their product lines, which will help the wooden decking market, grow even more. Participants in the market are also engaging in a variety of strategic initiatives to a global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The wooden decking industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.

Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the global wooden decking industry to benefit clients and increase the market sector. In recent years, the wooden decking industry has offered some of the most significant medical advantages. Major players in the wooden decking market, including 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.), are attempting to increase market demand by investing in research and development operations.

Trex Company, Inc. manufactures non-wood decking alternative products. The business sells outdoor lights, supplementary hardware, and decking and railing-related products. Trex provides services to clients all across the world. For instance, The Azec business and Trex just partnered. The joint venture reduced the price of creating new wood decking goods through research and development.

Humboldt Redwood Company, LLC operates a timber harvesting business. The business manufactures Douglas-fir and Redwood timber for use in the building and construction sectors. The United States is covered by the distribution of Humboldt Redwood Company's goods.

Key Companies 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


• Mendocino Redwood Company (U.S.)


• Vetedy Group (U.S.)


• Trex Company, Inc. (U.S.)


• Danzer (Austria)


• Shaw Industries Group, Inc. (U.S.)

Wooden Decking Industry Developments

October 2022: The first AZEK production facility in the Western United States was inaugurated in Boise, Idaho, by AZEK Company Inc. AZEK's strategy to promote material conversion to its types of durable, low-maintenance, and environmentally sustainable outdoor living products is further advanced by the 350,000-square-foot cutting-edge facility, which also gives the company the capacity to scale to meet market demand for its goods.

December 2022: Building Materials Distribution (BMD), a part of Boise Cascade, recently announced the expansion of its distribution capabilities in two regions. The company closed on the purchase of a 34-acre land parcel in Hondo, Texas, to construct a second new distribution facility that will help it serve customers in Austin, San Antonio, Corpus Christi, and the Rio Grande Valley. The company also acquired 45 acres in Walterboro, South Carolina, to construct a new distribution facility.

September 2022: The introduction of Wildwood composite cladding by Fiberon was announced. It combines wood's unmatched warmth and beauty with the strength of high-performance, low-maintenance materials. Wildwood composite cladding has an open-joint profile for greater design versatility and is offered in a range of board lengths and widths.

Wooden Decking Market Segmentation

Wooden Decking Type Outlook

• Pressure-Treated Wood


• Redwood


• Cedar


• Tropical Hardwood

Wooden Decking Application Outlook

• Floor


• Wall


• Railing

Wooden Decking End-User Outlook

• Residential


• Non-Residential

Wooden Decking Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America