Wooden Decking Market

Wooden Decking Market Size by Type (Pressure-Treated Wood, Redwood, Tropical Hardwood, Cedar, Wood-Plastic Composites, and Others), By Construction Type (New Construction and Repair and Remodelling), End User (Residential and Non-Residential), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2024 to 2033

Base Year: 2023 Historical Data: 2020-22
  • Report ID: TBI-14451
  • Published Date: Jun, 2024
  • Pages: 237
  • Category: Consumer Goods
  • Format: PDF
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The global wooden decking market was valued at USD 8 billion in 2023 and grew at a CAGR of 3% from 2024 to 2033. The market is expected to reach USD 10.75 billion by 2033. The increasing repair, renovation and remodelling of homes will drive the growth of the global wooden decking market.

Market Introduction:

Wooden decking, in the simplest terms, means creation of deck with wooden planks to extend a veranda, outdoor seating space or any other choice of construction homeowners might desire. The most commonly used woods are pressure-treated lumber, redwood, cedar and ipe among many others. Wooden decking involves several stages. It begins with planning the space where decking is to be laid. It then involves choosing construction materials, design, and other relevant aspects of building a plan on paper. Then foundation and frame are constructed wherein wooden planks are then installed along with final touches like railing or stairs. It offers additional space outside and can be used for a variety of purposes from entertainment, leisure and dining. Home-owners or commercial owners of cafes, restaurants, entertainment zones also indulge in wooden decking as it improves the functionality, aesthetic and overall resale value of these establishments. Wooden decking is preferred over others as it adds to a more natural touch to the place.

Wooden Decking Market Size

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Recent Development
  • Bristol Museum Brunel's SS To help pay for the replacement of its old wooden deck, Great Britain gave presents made from it. The 98-meter-long historic ship's 2,772 square meter wooden deck was being renovated as part of a project supported by Arts Council England and the Museum Estate & Development Fund (MEND). The old deck's wood was being used to make gifts, which were sold to earn funds. Handcrafted pens, cufflinks, and pendants made from the wood from the old deck are among the products available. Simon Webb, a local craftsman, created the pieces using Jarrah timber from the Weather Deck that is being demolished. More specially made goods are anticipated to be put up for sale.

Market Dynamics:

Drivers

The increasing demand for renovations and remodelling of homes and commercial spaces – The chaotic, busy and stressful lives of the modern populace has increased the demand for peaceful homes where one can relax, enjoy and interact in a safe, aesthetic and comfortable place. The increasing disposable income enables consumers to spend on things that prioritize their mental health like peaceful houses. Outdoor decks offer an extended space to be utilized as desired by homeowners. It enabled them to create a structure as an extended part of their house to indulge in leisure, entertainment or relaxing sessions as and when they please. These structures are highly customizable according to the needs, tastes and preferences of consumers which increases their appeal and demand in the market. the covid-19 pandemic exacerbated the need to have a private outdoor space, which led to an increasing demand of outdoor deck construction as many took up renovations and remodelling homes which drives the market’s growth. the preferences of outdoor decks overlooking nature or any sort of scenic beauty in commercial spaces has also driven their demand in the global market.

Restraints:

The maintenance challenges of wooden decking Wood needs to maintained as it is highly susceptible and vulnerable to decay given the moisture, light and microorganisms it is exposed to in the outdoor spaces. It needs to stained and regularly inspected to avoid such damage. the lack of which leads to decay, which reduces the life-span of the wood, thereby increasing costs of curing these structures or replacing them all-together. They need a more careful inspection and maintenance as they are exposed to outdoor vagaries of nature all day and night along, which leads to prolonged exposure to sunlight, rain, winds, insects, algae, fungus, snow, wind and any other temperature or pressure fluctuations. Therefore, the maintenance challenges of wooden decking might encourage consumers to invest in better alternatives, thereby limiting the market’s growth.

Opportunities:

The rising push for sustainability – as the world is continuously moving towards a more sustainable economy, the demand for sustainable products and processes has increased, including wooden decking. Wood is a renewable material and with responsible policies and practices by forestry industry and other stakeholders, it is becoming a preferred choice for many home owners. The most significant factor that favours wooden decking is the lowered carbons emissions when compared to other synthetic materials. The growing climate or eco-consciousness of consumers will augment the market’s growth over the forecast period.

Regional segmentation analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. North America emerged as the most significant global wooden decking market, with a 38% market revenue share in 2023.

North America has a vast amount of space and less population in terms of that space, this leaves a significant number of homeowners with the ability to afford outdoor living spaces with wooden decks. This demand is catered by the abundant forest reserves of the region. the demand for wooden decking is significantly higher than its counterparts as it is more economical or affordable. Additionally, the presence of a high number of manufacturers driving innovation offer consumers with technologies that improve wood quality, longevity, durability and performance. The well-established wood and building and construction industry brings expertise and a wide variety of options for the regional consumers, thereby augmenting the market’s growth. the growing demand for renovation, remodelling and repairs as long as readily available professional services that offer them will drive the dominance of the region in the global market.

North America Region Wooden Decking Market Share in 2023 - 38%

 

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  • Oldcastle APG's hallmark brand, MoistureShield, has teamed up with Great Southern Wood Preserving, Inc. to increase the manufacturer's composite decking portfolio's distribution in Pennsylvania, and Millwood, Kentucky. The company has also added a new railing product line.
Type Segment Analysis

The type segment is divided into pressure-treated wood, redwood, tropical hardwood, cedar, wood-plastic composites, and others. The pressure-treated wood segment dominated the market, with a market share of around 37% in 2023. The pressure treated wood is treated with chemical preservatives which prevent moisture retention, thereby reducing the chances of damage and decay. These chemicals also make it highly resistant to any fungus or insects. This preservation increases the lifespan of wood, thereby making it a highly economical and preferred option for wooden decking. They are also cheaper than many of its counterparts and hence more in demand. It is available and accessible for all group of consumers. furthermore, it is highly customizable given the versatility it offers in terms of shape, size and design. They are easy to install as they offer seamless cutting and shaping making them the preferred by service providers as well. technological advancements are making these fire-proofed and such innovations will only drive its dominance in the market.

Construction type Segment Analysis

The construction type segment is divided into new construction and repair and remodelling. The repair and remodelling segment dominated the market, with a market share of around 56% in 2023. Repair and remodelling are more economical as and when the funds become available for home-owners. It offers more flexibility to home-owners as the new remodelling can be done according to the current aesthetics and new materials available in the market. the accessibility to repair and remodelling services has increased and these projects have grown in number, thereby driving competitive prices, making it more affordable for consumers. they are less time-consuming and hence preferred by majority of the consumers. these can sometimes even be one without hiring professionals, which further drives down costs and augments its dominance in the market.

End user Segment Analysis

The end user segment is divided into residential and non-residential. The residential segment dominated the market, with a market share of around 68% in 2023. Residential end users are basically home owners. Wooden decking is highly popular among homeowners as it offers an extended outdoor space attached to the house which can be used for a wide variety of purposes that seems fit to the home owners. They can have it open or covered. They can have it overlooking the front-yard or backyard. They can have it on the first storey or on the ground floor or over-looking a swim pool. It can be used for storage, relacing, entertaining, dining or leisure. it is also installed to improve home aesthetics. With the rising disposable income of consumers, it has become increasingly possible for homeowners to install their own decks. Furthermore, the affordability, availability and accessibility of wooden decking make it an attractive choice for residential users.

Some of the Key Market Players:
  • Humboldt Redwood Company
  • James Latham Plc
  • Latham PLC
  • Metsä Group
  • Setra Group AG
  • Trex Company Inc.
  • UFP Industries Inc.
  • UPM Kymmene Corporation
  • Vetedy
  • Weyerhaeuser Company

Report Description:

Attribute Description
Market Size Revenue (USD Billion)
Market size value in 2023 USD 8 Billion
Market size value in 2033 USD 10.75 Billion
CAGR (2024 to 2033) 3%
Historical data 2020-2022
Base Year 2023
Forecast 2024-2033
Region The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East and Africa. Furthermore, the regions are further analyzed at the country level.
Segments Type, Construction Type and End User

Frequesntly Asked Questions

As per The Brainy Insights, the size of the global wooden decking market was valued at USD 8 billion in 2023 to USD 10.75 billion by 2033.

Global wooden decking market is growing at a CAGR of 3% during the forecast period 2024-2033.

The market's growth will be influenced by the increasing demand for renovations and remodelling of homes and commercial spaces.

The maintenance challenges of wooden decking could hamper the market growth.

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This study forecasts revenue at global, regional, and country levels from 2020 to 2033. The Brainy Insights has segmented the global wooden decking market based on below mentioned segments:

Global Wooden Decking Market by Type:

  • Pressure-Treated Wood
  • Redwood
  • Tropical Hardwood
  • Cedar
  • Wood-Plastic Composites
  • Others

Global Wooden Decking Market by Construction Type:

  • New Construction
  • Repair and Remodelling

Global Wooden Decking Market by End User:

  • Residential
  • Non-Residential

Global Wooden Decking Market by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa

Methodology

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Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
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Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

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Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
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Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

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