Wooden Decking Market: Growth from $13,858.7 Million in 2020 to $18,624.0 Million by 2030

The global wooden decking market, valued at $13,858.7 million in 2020, is projected to reach $18,624.0 million by 2030, registering a compound annual growth rate (CAGR) of 2.9% from 2021 to 2030. Wooden decking refers to a flat, weight-bearing surface, typically elevated above the ground, used in landscaping, home extensions, and as an alternative to stone-based features like patios. Constructed from materials such as treated timber, composite lumber, composite materials, and aluminum, wooden decking is widely utilized in residential and non-residential applications, including cladding, siding, pathways, pool decks, and flooring. The market is driven by increasing demand for sophisticated construction, renovations, and residential projects, particularly in Asia-Pacific, though challenges like the COVID-19 pandemic have posed temporary setbacks. Strategic partnerships and growing urbanization offer significant growth opportunities.

Download PDF Sample@ https://www.alliedmarketresearch.com/request-sample/A14476

Key Drivers of Market Growth
The wooden decking market is propelled by the rising demand for advanced construction solutions in developed countries and the surge in home renovation and repair activities. In residential settings, wooden decking enhances outdoor living spaces, serving as an attractive and functional addition to homes. Its applications range from garden landscaping to pool decks and pathways, making it a versatile choice for homeowners. The aesthetic appeal and durability of materials like cedar, redwood, and pressure-treated wood further drive demand, as consumers seek high-quality, long-lasting solutions for their properties.

Rapid urbanization and population growth, particularly in the Asia-Pacific region, are significant drivers of market expansion. Countries like India and China are witnessing a boom in residential and non-residential construction to accommodate growing urban populations. For instance, in November 2019, India's Union Cabinet approved a $3.58 billion Alternative Investment Fund (AIF) to revive over 1,600 stalled housing projects in major cities. Similarly, Puravankara Ltd. announced plans to invest $121.6 million over four years to develop ultra-luxurious residential complexes in Chennai, Bengaluru, and Mumbai. These initiatives are expected to boost demand for wooden decking in residential projects, creating lucrative opportunities for market growth.

The increasing focus on outdoor living spaces also contributes to market demand. Homeowners are increasingly investing in decks to expand living areas, particularly in regions with favorable climates. In non-residential settings, such as hospitality and commercial properties, wooden decking is used to create appealing outdoor spaces for customers, further driving market growth.

Challenges Facing the Market
The wooden decking market faced significant challenges due to the COVID-19 pandemic, which disrupted global trade, economies, and industries, including construction and manufacturing. Lockdowns halted production in the wooden decking sector, and supply chain disruptions limited the availability of raw materials like timber and composite lumber. Construction projects, a key driver of decking demand, were delayed or canceled, leading to a temporary decline in market activity in 2020. However, with the introduction of COVID-19 vaccines and declining infection rates, the market is expected to recover by early 2022 as companies resume full-scale operations and implement strategies to protect their workforce and supply chains.

Another challenge is the high cost of premium decking materials, such as cedar and redwood, which may deter price-sensitive consumers in developing markets. Additionally, maintenance requirements for certain types of wooden decking, such as regular sealing or staining to prevent weathering, can add to long-term costs, potentially limiting adoption in some regions.

Opportunities for Growth
The wooden decking market is poised for recovery and growth due to several emerging opportunities. The resumption of construction activities post-COVID-19, coupled with government-backed infrastructure projects, is expected to drive demand. In Asia-Pacific, large-scale residential and commercial developments, supported by initiatives like India's AIF, are creating a favorable environment for market expansion. The growing trend of sustainable construction also presents opportunities, as eco-friendly materials like composite lumber gain popularity among environmentally conscious consumers.

Enquire Before Buying@ https://www.alliedmarketresearch.com/purchase-enquiry/A14476

Strategic partnerships and acquisitions are further enhancing market growth. For example, in April 2021, UFP Industries partnered with Endurable Building Products, a leading manufacturer of aluminum and wooden decking solutions for outdoor applications like deck framing, balconies, and railings. This collaboration expanded UFP Industries' product portfolio, strengthening its market position and catering to diverse consumer needs.

Market Segmentation
The wooden decking market is segmented by type, construction type, end-user, and region, providing a detailed understanding of its dynamics.

By Type
The market is divided into:

Pressure-treated wood
Redwood
Cedar
Others (tropical hardwood, tigerwood, mahogany, teak, and ipe)
In 2020, pressure-treated wood dominated the market due to its affordability and durability. The cedar segment is projected to grow at a significant CAGR during the forecast period, driven by its natural resistance to decay and aesthetic appeal.

By Construction Type
The market is categorized into:

New construction
Renovation and repair
The renovation and repair segment held the largest market share in 2020, as homeowners and property managers invested in upgrading existing outdoor spaces. New construction is also a key growth area, particularly in Asia-Pacific, where urbanization drives demand for residential projects.

By End-User
The market is segmented into:

Residential
Non-residential
The residential segment dominated the market in 2020, driven by the popularity of outdoor living spaces in homes. The non-residential segment, including hospitality and commercial properties, is expected to grow steadily as businesses invest in outdoor amenities.

By Region
The market is analyzed across:

North America: U.S., Canada, Mexico
Europe: Germany, France, UK, Italy, rest of Europe
Asia-Pacific: China, India, Japan, South Korea, rest of Asia-Pacific
LAMEA: Latin America, Middle East, Africa
North America held the largest market share in 2020, driven by strong demand for residential decking in the U.S. Asia-Pacific is expected to register the highest CAGR during the forecast period, fueled by rapid urbanization and infrastructure investments in countries like India and China.

Full Report With TOC@ https://www.alliedmarketresearch.com/wooden-decking-market-A14476

Competitive Landscape
The wooden decking market is competitive, with key players focusing on partnerships, acquisitions, and product innovation to strengthen their market position. Major companies include:

Humboldt Redwood Company
James Latham PLC
Long Fence
Metsa Group
Setra Group AB
UFP Industries
UPM-Kymmene Corporation
Vetedy Group
West Fraser Timber Co. Ltd.
Weyerhaeuser Company
Strategic moves, such as UFP Industries' collaboration with Endurable Building Products in April 2021, highlight the industry's focus on expanding product offerings and meeting diverse consumer demands.

Key Benefits for Stakeholders
The wooden decking market report provides valuable insights for stakeholders:

Market Trends and Dynamics: Analysis of current and emerging trends shaping the market.
Segment-Wise Insights: Detailed segmentation by type, construction type, and end-user highlights growth opportunities.
Regional Analysis: Comprehensive insights into North America, Europe, Asia-Pacific, and LAMEA identify high-potential markets.
Competitive Outlook: Profiling of key players and their strategies offers a roadmap for navigating the competitive landscape.
Forecast Analysis: Projections from 2021 to 2030 enable informed decision-making for investments and strategies.

The global wooden decking market is set for steady growth, driven by demand for sophisticated construction, urbanization, and home renovation activities. Despite challenges posed by the COVID-19 pandemic, the market is recovering with the resumption of construction activities and strategic industry initiatives. With a projected value of $18,624.0 million by 2030, the wooden decking market presents significant opportunities for manufacturers, developers, and investors, particularly in Asia-Pacific, where rapid urbanization fuels demand.

Contact:
David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry

This release was published on openPR.