Wooden Decking Market Size, Share, Competitive Landscape and Trend Analysis

global wooden decking market size was valued at $13,858.7 million in 2020, and is projected to reach $18,624.0 million by 2030, registering a CAGR of 2.9% from 2021 to 2030

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The market Compound Annual Growth Rate (CAGR) for wooden decking is being propelled by the steady growth of the global economy's construction sector. Regions such as Asia-Pacific, North America, the Middle East, and Africa are witnessing substantial investments in construction and restoration industries due to abundant opportunities, increasing structural demands, and growing populations. The preference for hardwood or timber decking stems from its versatility in garden landscaping, offering an extension of living space and serving as a replacement for stone-based features like patios. This trend correlates with the rising global living standards.

Moreover, in both high-rise commercial and residential buildings featuring rooftop decks, the concept of "green spaces" or "sky parks" is gaining popularity. Urban landscaping techniques are often employed in the construction, design, and maintenance of these areas, attracting the attention of numerous landscape architecture firms. Incorporating wooden decking into new constructions, repairs, and renovations of residential structures is becoming commonplace. Wooden decking finds multifarious applications in residential construction, including flooring, walkways, swimming pool decks, cladding, and siding. For instance, the ambitious development plans outlined by the Chinese government, which include relocating 250 million people to new megacities over the next decade, present a significant market opportunity for wooden decking across various construction applications, thereby enhancing overall quality.

Furthermore, growth in the building industry in Japan, propelled by hosting major events, is driving demand for wooden decking. The Yaesu redevelopment project, encompassing commercial, retail, residential, and educational facilities, is indicative of these expanding development initiatives, likely leading to an increased need for wooden decking. Such advancements and plans are anticipated to coincide with a rise in worldwide remodeling and refurbishment activities, further boosting the demand for wooden decking.

Segment Insights: Wooden Decking Application: The global wooden decking market segmentation by applications includes floor, wall, and railing, with the floor category generating the highest income share (42%) and exhibiting the highest CAGR. Wooden deck flooring is commonly utilized to cover outdoor surfaces, offering a practical, flexible, and cost-effective design option for enhancing homes or outdoor spaces. It serves as an environmentally friendly choice suitable for patios, gardens, and poolside areas, with sustainability being its fundamental advantage. Moreover, its excellent drainage capacity allows for installation on any surface.

Wooden Decking End-User: Segmentation based on end-users comprises residential and non-residential categories, with the residential segment contributing the most income (75.9%) and displaying the highest CAGR. As individuals become more affluent, they increasingly prioritize the appearance of both the interior and exterior of their homes. This trend is driving the expansion of the wooden decking market, particularly in developing nations where residents aspire to emulate the housing standards of their wealthier Western counterparts, leading to more frequent adoption and utilization of wooden decking in residential settings.

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