Wooden Decking Market is Estimated to Witness High Growth Owing to Increasing Construction Activities
SWOT Analysis
Strength: Wooden decking offers several inherent advantages over synthetic alternatives. Wood is a natural material that can withstand pressure and weather conditions very well. Renewable wood sources make wooden decking more environmentally sustainable than plastic or composite decking materials. Cedar, redwood and hardwood timbers are highly durable and add natural aesthetics to any outdoor living space.
Weakness: Wood is susceptible to damage from moisture and rot over time if not properly sealed and maintained. Pests like termites can potentially infest untreated wood. Installation and repair of wooden decking often requires more expertise and manual labor than synthetic options.
Opportunity: Rapid growth of residential and commercial construction in developing economies increases demand for wooden decking structures. Homeowners constantly renovate older decking for aesthetic or functional upgrades. Strict regulations on plastic waste boost adoption of eco-friendly wood alternatives in decking. Innovation in wood treatment technologies strengthens wood against degradation factors.
Threats: Stringent forest preservation laws limit harvest of high-quality wood species. Fluctuating costs and supply of raw wood materials raise production prices. Synthetic decking varieties make inroads by marketing longevity and low maintenance benefits. Climate change exacerbates risks of termites, mold and fires where wood is used outdoors.
Key Takeaways
Global Wooden Decking Market Demand is expected to witness high growth over the forecast period driven by rising residential and commercial construction activities globally. The market was valued at US$ 23107.38 Mn in 2023 and is projected to reach US$ 24388.48 Mn by 2030, expanding at a CAGR of 5.2%.
Regional analysis: North America currently dominates the wooden decking market, accounting for over 35% share in 2023. The popularity of outdoor living spaces and the large number of wooden houses with decking structures have propelled demand. The region is expected to maintain its lead through 2030 backed by strong construction output in the United States. Asia Pacific is projected to emerge as the fastest growing regional market, expanding at a CAGR of around 6.5% during the forecast period. Rapid urbanization and growing middle-class spending on homes have been fueling demand for wooden decking in China, India and other developing Asian countries.
Key players: Key players operating in the wooden decking market are 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. (BISON Innovative Products), Mendocino Forest Products Company LLC, NeoTimber, Shubh Composites, and Tecnodeck (Mitera Group).
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