Wooden Decking Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 24.67 Billion |
| Market Size (2029) | USD 32.08 Billion |
| CAGR (2024 - 2029) | 5.39 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Wooden Decking Market Analysis
The Wooden Decking Market size is estimated at USD 24.67 billion in 2024, and is expected to reach USD 32.08 billion by 2029, growing at a CAGR of 5.39% during the forecast period (2024-2029).
In 2020, due to the COVID-19 pandemic, most infrastructure projects were shut down for a specified period. Owing to this, the demand for wooden decking was reduced drastically. However, the sector has been recovering well since restrictions were lifted. Growing investments in the construction sector globally and favorable government policies have been leading the market recovery in 2021 and 2022.
- Over the long term, an increase in remodeling and refurbishment activities and the demand for housing and lavish infrastructure in developed nations will likely stimulate the market demand.
- On the flip side, replacement by composite decking is expected to hinder the market's growth.
- Wood modification for enhanced properties is likely to create opportunities for the market in the coming years.
- The Asia-Pacific region is likely to witness the highest CAGR during the forecast period.
Wooden Decking Market Trends
This section covers the major market trends shaping the Wooden Decking Market according to our research experts:
Increasing Usage in the Residential Sector
- Wooden decking is used in the residential sector, both for new construction and repair and refurbishment in buildings. It is used for various purposes in residential construction, such as cladding and siding, pathways, swimming pool decks, and flooring. The increasing demand for residential projects worldwide is expected to drive the wooden decking market over the forecast period.
- Globally, there has been a significant undersupply to meet the demand for housing. This presented a substantial opportunity for investors and developers to embrace alternative construction methods and new partnerships to bring forward development.
- The highest growth for housing is expected to be registered in the Asia-Pacific region, owing to the expanding housing construction markets in China and India. These two regions are expected to represent over 43.3% of the global middle class by 2030.
- Furthermore, India is expected to witness an investment of around USD 1.3 trillion in housing over the next six years. It is anticipated to witness the construction of 60 million new homes. The availability of affordable housing is expected to rise by around 70% in 2024. The Indian government's 'Housing for All by 2022' is also a significant game-changer for the industry. This initiative aims to build more than 20 million affordable homes for the urban poor by 2022. This will provide a substantial boost to housing construction.
- Demographics in the country are expected to continue to spur growth in residential construction. Rising household income levels, combined with the population migrating from rural to urban areas, are expected to continue to drive demand for the residential construction sector in the country.
- According to the Harvard Joint Center for Housing Studies, it is estimated that Americans alone spend more than USD 400 billion a year on residential renovations and repairs, which is expected to create a significant market for wooden decking in the country.
- Similarly, the United Arab Emirates has an exceptionally well-connected residential plaza under construction in the heart of Dubai's new growth corridor, Al Furjan. Azizi Developments has been engaged in developing the plaza, which includes 16 luxurious penthouses, 46 one-bedroom units, 86 two-bedroom residences, and 286 studios.
- Germany has the most significant construction industry in Europe. The construction industry in the country has been growing at a slow pace, majorly driven by increasing new residential construction activities.
- Owing to all these factors, the wooden decking market will likely grow globally during the forecast period.
North America Region is Expected to Dominate the Market
- North America is one of the largest economies globally, with the United States and Canada in the leading positions.
- The United States is the world's largest and most powerful economy. The residential construction sector accounts for the most significant market share in the United States. The COVID-19 pandemic created a demand for housing in areas away from crowded cities, and homebound employees decided to invest in home improvement projects.
- As per the United States Census Bureau, the residential construction industry in the United States was valued at USD 929.7 billion in July 2022 compared to USD 815.5 billion in July 2021, registering a growth of 14%. The aging houses signal a growing remodeling market, as old structures normally need to add new amenities or repair/replace old components. Rising home prices in the country have also encouraged homeowners to spend more on home improvements.
- Owner-occupied homes constructed in the United States between 2000 and 2009 make up 16% of the housing stock. However, more than half of the owner-occupied homes were built before 1980, with around 38% built before 1970, severely driving up the need to remodel old houses. Also, the renovation of existing housing should continue to perform well, given the various government support measures for energy efficiency improvements. This will further create considerable opportunities for the wooden decking market in the region.
- According to the Canadian Construction Association, the construction sector is one of the prominent employers (around 1.4 million) and a significant contributor to the country's economic success. The industry comprises 70% of small and medium-sized enterprises (SMEs). The industry contributes around 7.5% of the country's GDP.
- The residential construction sector is booming in Canada for all housing types, ranging from single-family homes to high-rise apartment blocks, due to the low-interest rates and high demand for space. The rental apartment sector is also witnessing significant demand for accommodating the growing urban population.
- Additionally, an increase in household income, progress in Canada's vaccination drive, and a recovery in the global economy enabled the market's growth in 2021.
- As part of the 'Investing in Canada Plan,' the government announced plans to invest nearly USD 140 billion for significant infrastructure developments by 2028.
- There has been a boom in constructing skyscrapers in Canada (especially in Toronto). Over 30 high-rise buildings are expected to be completed by 2025, and another 50 such buildings are in Toronto's proposal and planning phases.
- In Mexico, the rising middle-class population and growing investments in affordable housing construction are expected to increase the demand for residential buildings in the coming years.
- Due to all such factors, the market for wooden decking in the region is expected to have steady growth during the forecast period.
Wooden Decking Industry Overview
The wooden decking market is fragmented in nature. Some major companies include The AZEK Company LLC, Trex Company Inc., DuraLife Decking and Railing Systems, Fiberon, and Metsa Wood (not in any particular order).
Wooden Decking Market Leaders
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Trex Company, Inc
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The AZEK Company LLC
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Fiberon
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Metsa Wood
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DuraLife Decking and Railing Systems
*Disclaimer: Major Players sorted in no particular order
Wooden Decking Market News
- November 2022: The US-based company, AZEK Company Inc., announced a new suite of offerings from its StruXure and TimberTech brands, which includes new decking colors, and new railing offerings, among others. The product will be available in the market from 2023.
- October 2022: The United States-based company Deckorators Inc., a leading brand of composite decking, railing, and other products, announced providing two new colors for its new Venture Decking product line. The two colors are Sandbox, a classic medium-brown, and Saltwater, a warm smokey-taupe.
Wooden Decking Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Drivers
- 4.1.1 Increase in Remodeling and Refurbishment Activities
- 4.1.2 Demand for Housing and Lavish Infrastructure in Developed Nations
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4.2 Restraints
- 4.2.1 Replacement by Composite Decking
- 4.2.2 Other Restraints
- 4.3 Industry Value Chain Analysis
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4.4 Porter's Five Forces Analysis
- 4.4.1 Bargaining Power of Suppliers
- 4.4.2 Bargaining Power of Buyers
- 4.4.3 Threat of New Entrants
- 4.4.4 Threat of Substitute Products and Services
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Value)
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5.1 By Type
- 5.1.1 Pressure-treated Wood
- 5.1.2 RedWood
- 5.1.3 Tropical Hardwood
- 5.1.4 Cedar
- 5.1.5 Wood-Plastic Composites (WPC)
- 5.1.6 Other Types (Thermally Modified Wood, Acetylated Wood)
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5.2 By Application
- 5.2.1 Railing
- 5.2.2 Floor
- 5.2.3 Wall
- 5.2.4 Other Applications
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5.3 By End-user Industry
- 5.3.1 Residential
- 5.3.2 Non-residential
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5.4 By Geography
- 5.4.1 Asia-Pacific
- 5.4.1.1 China
- 5.4.1.2 India
- 5.4.1.3 Japan
- 5.4.1.4 South Korea
- 5.4.1.5 Rest of Asia-Pacific
- 5.4.2 North America
- 5.4.2.1 United States
- 5.4.2.2 Canada
- 5.4.2.3 Mexico
- 5.4.3 Europe
- 5.4.3.1 Germany
- 5.4.3.2 United Kingdom
- 5.4.3.3 Italy
- 5.4.3.4 France
- 5.4.3.5 Rest of Europe
- 5.4.4 Rest of the World
- 5.4.4.1 South America
- 5.4.4.2 Middle East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share (%)**/Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 Deck Solutions LLC
- 6.4.2 Deckorators Inc.
- 6.4.3 DuraLife Decking and Railing Systems
- 6.4.4 Fiberon
- 6.4.5 Humboldt Sawmill Company LLC
- 6.4.6 Kebony AS
- 6.4.7 Mendocino Forest Products Company LLC
- 6.4.8 Metsa Wood
- 6.4.9 NeoTimber
- 6.4.10 Shubh Composites
- 6.4.11 Tecnodeck (Mitera Group)
- 6.4.12 The AZEK Company LLC
- 6.4.13 Thermory
- 6.4.14 Trex Company Inc.
- 6.4.15 United Construction Products Inc. (BISON Innovative Products)
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Wood Modification for Enhanced Properties
Wooden Decking Industry Segmentation
A deck is an elevated surface usually constructed outdoors, elevated from the ground, and connected to the buildings. A wooden deck gives functional outdoor living space. A railing mainly encloses it for safety purposes. Wooden deck rails are composed of an assembly of parts. There are different methods for building guardrails with various materials for decks, but most rails made from wood share a common set of components. The wooden decking market is segmented by type, application, end-user industry, and geography. The market is segmented by pressure-treated wood, redwood, tropical hardwood, cedar, wood-plastic composites, and other types. By application, the market is segmented into the railing, floor, wall, and other applications. By end-user industry, the market is segmented into residential and non-residential. The report also covers the market size and forecasts for the wooden decking market in 11 countries across major regions. For each segment, the market sizing and forecasts have been done based on revenue (USD million).
| By Type | Pressure-treated Wood | |
| RedWood | ||
| Tropical Hardwood | ||
| Cedar | ||
| Wood-Plastic Composites (WPC) | ||
| Other Types (Thermally Modified Wood, Acetylated Wood) | ||
| By Application | Railing | |
| Floor | ||
| Wall | ||
| Other Applications | ||
| By End-user Industry | Residential | |
| Non-residential | ||
| By Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| By Geography | North America | United States |
| Canada | ||
| Mexico | ||
| By Geography | Europe | Germany |
| United Kingdom | ||
| Italy | ||
| France | ||
| Rest of Europe | ||
| By Geography | Rest of the World | South America |
| Middle East and Africa |
Wooden Decking Market Research FAQs
How big is the Wooden Decking Market?
The Wooden Decking Market size is expected to reach USD 24.67 billion in 2024 and grow at a CAGR of 5.39% to reach USD 32.08 billion by 2029.
What is the current Wooden Decking Market size?
In 2024, the Wooden Decking Market size is expected to reach USD 24.67 billion.
Who are the key players in Wooden Decking Market?
Trex Company, Inc , The AZEK Company LLC, Fiberon, Metsa Wood and DuraLife Decking and Railing Systems are the major companies operating in the Wooden Decking Market.
Which is the fastest growing region in Wooden Decking Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Wooden Decking Market?
In 2024, the North America accounts for the largest market share in Wooden Decking Market.
What years does this Wooden Decking Market cover, and what was the market size in 2023?
In 2023, the Wooden Decking Market size was estimated at USD 23.41 billion. The report covers the Wooden Decking Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Wooden Decking Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Wooden Decking Industry Report
The residential real estate market in Turkey is experiencing notable growth, driven by increased demand from foreign investors, urbanization, and favorable macroeconomic conditions. Key customer preferences in this market include modern, luxurious properties with eco-friendly and sustainable living options. There's a growing trend towards urban properties and mixed-use developments that merge residential and commercial spaces.
Unique market aspects include the Citizenship by Investment program, which attracts foreign buyers, and the popularity of coastal properties. The market's expansion is supported by strong economic growth, low interest rates, and government incentives. The market is segmented by property types, key cities, and areas, with condominiums and urban markets demonstrating substantial growth.
However, the market's growth faces challenges due to high interest rates and economic limitations. Technological advancements in construction and architecture are anticipated to create opportunities for market players. This market analysis includes market share, size, and revenue growth rate, providing a forecast outlook and historical overview of residential real estate in Turkey.
The industry analysis highlights the importance of industry reports and industry research in understanding the market trends and industry statistics. Market data and market segmentation are crucial for identifying market value and market growth. The market predictions and market forecast offer insights into the market outlook and market overview. The industry trends and industry outlook provide a comprehensive view of the industry's direction.
The report example and report pdf serve as valuable resources for research companies and market leaders. Industry information and industry sales are essential for understanding the market dynamics. The market review and market predictions help in assessing the future potential of the market. The industry size and industry statistics offer a detailed analysis of the market's scope.
In summary, the residential real estate market in Turkey is poised for growth, with various factors contributing to its expansion. The market's future looks promising with the support of technological advancements and government incentives, despite the challenges posed by high interest rates and economic limitations.
