USD 7.81 Billion
Report ID: SQMIG15P2013 | Region: Global | Published Date: June, 2023 | Pages: 157 | Tables: 62 | Figures: 75
Global Wooden Decking Market size was valued at USD 7.81 Billion in 2021 and is poised to grow from USD 7.92 Billion in 2022 to USD 8.87 Billion by 2030, at a CAGR of 1.43% during the forecast period (2023-2030).
The global wooden decking market is driven by the growing demand for outdoor living spaces and the desire for natural, environmentally friendly materials. Additionally, the increasing preference for wooden decking over alternative materials like concrete or composite decking contributes to market growth. One of the key drivers of the global wooden decking market is the rising construction activities in residential and commercial sectors. The construction industry's growth, particularly in emerging economies, fuels the demand for wooden decking in new constructions and renovations. Moreover, the popularity of outdoor entertainment areas and the trend towards creating outdoor extensions of indoor living spaces further drive the demand for wooden decking. The market is also influenced by the increasing focus on sustainable and eco-friendly practices.
Wooden decking made from responsibly sourced timber is considered a sustainable choice, as wood is a renewable resource. This aligns with the growing environmental consciousness among consumers, leading to the preference for wooden decking over materials with higher carbon footprints. However, the global wooden decking market faces certain challenges. One of the significant challenges is the maintenance required for wooden decking to ensure its longevity and aesthetics. Regular cleaning, staining, and sealing are essential to protect the wood from moisture, rot, and insect infestation. Additionally, wooden decking may be susceptible to weathering, fading, and warping over time, which requires proper care and maintenance. Another challenge is the competition from alternative decking materials such as composites and PVC. These materials offer advantages like low maintenance, high durability, and resistance to moisture and pests. The market's growth potential for wooden decking may be influenced by the availability and affordability of these alternative materials.
Global Market Size
USD 7.81 Billion
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The global wooden decking market is segmented on the basis of application, end-user, and region. By application, the market is segmented into railing, floor, wall, and other applications. By end user, the market is segmented into residential, and non-residential. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis By Application
The global wooden decking market can be segmented by application into railing, floor, wall, and other applications. Among these segments, the dominant application is the floor segment. Wooden decking is widely used as flooring in outdoor spaces such as patios, terraces, and gardens due to its natural aesthetics, durability, and ability to create a warm and inviting ambiance. The floor segment holds a significant share in the global wooden decking market and is expected to continue its dominance.
However, the fastest-growing segment in recent years has been the railing segment. Railing systems made from wooden decking provide safety and enhance the overall appearance of outdoor spaces. The growing awareness about safety regulations and the increasing demand for visually appealing railing solutions have driven the growth of the wooden decking market in the railing segment.
Analysis By End User
The global wooden decking market can be segmented by end users into residential and non-residential sectors. Among these segments, the dominant end user is the residential sector. Wooden decking is extensively used in residential properties such as houses, apartments, and villas to enhance outdoor living spaces. Homeowners value the natural beauty, warmth, and durability offered by wooden decking, making it a popular choice for residential applications. The residential sector holds a significant share in the global wooden decking market and is expected to maintain its dominance.
However, the non-residential sector is the fastest-growing segment in recent years. The demand for wooden decking in non-residential applications, such as commercial buildings, hotels, resorts, and public spaces, has been on the rise. The hospitality industry, in particular, is witnessing a growing preference for wooden decking to create appealing outdoor areas for guests to relax and enjoy. Additionally, wooden decking is increasingly being utilized in outdoor spaces of restaurants, cafes, and entertainment venues to create a welcoming atmosphere. This surge in non-residential construction and the growing focus on creating inviting outdoor environments contribute to the rapid growth of the non-residential sector in the wooden decking market.
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North America dominates the global wooden decking market. The region has a strong demand for outdoor living spaces and a culture of utilizing wooden decking for residential and commercial applications. The United States, in particular, is a significant market due to the high number of single-family houses and the popularity of outdoor entertainment areas.
Asia Pacific is experiencing significant growth in the wooden decking market. Rapid urbanization, expanding construction activities, and increasing disposable incomes in countries such as China, India, and Japan drive the demand for wooden decking. Additionally, the cultural inclination towards outdoor living spaces and the preference for natural materials contribute to the market growth in this region.
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Increasing Demand for Outdoor Living Spaces
Natural Aesthetic Appeal
Susceptibility to Pests and Decay
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The global wooden decking market features a highly competitive landscape with several players striving to capture a significant market share. These companies are engaged in product development, innovation, strategic partnerships, and geographical expansion to strengthen their market position. The competition is primarily driven by factors such as product quality, durability, aesthetics, pricing, and customer service. The market players in the wooden decking industry focus on offering a diverse range of decking solutions to cater to the varying needs and preferences of customers. They invest in research and development activities to introduce innovative decking materials and designs that enhance the overall performance, durability, and aesthetics of wooden decking products. Additionally, companies in the global wooden decking market emphasize sustainability and environmentally friendly practices. They strive to develop decking materials that are sourced from responsibly managed forests and promote sustainable construction practices. Furthermore, strategic collaborations with contractors, architects, and builders play a crucial role in expanding the market reach and increasing product visibility. Companies also invest in marketing and promotional activities to create brand awareness and attract potential customers.
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According to our global wooden decking market analysis, the growing preference for sustainable and eco-friendly decking materials, coupled with customers demanding responsibly sourced wood and environmentally friendly practices are the key growth drivers. Composite decking is gaining popularity due to its durability, low maintenance requirements, and resistance to rot and weathering. Customization and personalization are also key trends, as customers seek unique decking designs to match their outdoor spaces. Technology integration, such as 3D modeling, is improving design accuracy and visualization. Durability and longevity are emphasized, with manufacturers developing decking products that can withstand various weather conditions.
The market is fuelled by the increasing trend of creating outdoor living spaces and home improvement projects. Additionally, the demand for low-maintenance decking options, safety features, and slip resistance is on the rise. The global wooden decking market is also influenced by urbanization and construction activities, particularly in residential and commercial sectors. Furthermore, the shift towards online sales channels is transforming the distribution and sales strategies in the industry. Overall, North America dominates the market, while Asia Pacific is the fastest-growing region, driven by urbanization and infrastructure development. However, challenges such as price fluctuations of raw materials and competition from alternative decking materials pose restraints to the market's growth.
|Market size value in 2021||USD 7.81 Billion|
|Market size value in 2030||USD 8.87 Billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Wooden Decking Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Wooden Decking Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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