Wooden Decking Market 2018-2023-Global Leader Mohawk Industries, UPM-Kymmene Corporation, Weyerhaeuser Company, West Fraser Timber Co., Setra Group, James Latham plc

Market Highlights
The increase in the home improvement and the renovation projects in developed countries, is driving huge opportunities for the market. Wooden decking is used to build patios, garden landscaping, extend living areas, railings, and much more. Various types of wood are used to make a wooden decking. Growing demand for environmentally sustainable and low maintenance building products, is also expected to lead to the growth of the market. However, availability of substitutes such as plastic decks, may restrict the growth of the market. Global Wooden Decking Market is expected to grow at CAGR of 1.37% during the forecast period.

Prominent Players
The Prominent Players in the wooden decking market include Mohawk Industries, Inc. (U.S.), UPM-Kymmene Corporation (Finland), Weyerhaeuser Company (U.S.), West Fraser Timber Co. Ltd. (Canada), Universal Forest Products, Inc. (U.S.), Metsa Group (Finland), Setra Group (Sweden), James Latham plc (U.K.), Cox Industries Inc. (U.S.), Humboldt Redwood Company and Mendocino Redwood Company (U.S.), Vetedy Group (U.S.)., Trex Company, Inc. (U.S.), Danzer (Austria), and Shaw Industries Group, Inc. (U.S.).

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Market Research Analysis
For the purpose of this study, the global wooden decking market has been divided into three segments such as by type, by application and by end user. On the basis of type, the market has been segmented as pressure-treated wood, redwood, cedar wood, tropical hardwood and others. Among the type, pressure-treated wood accounts the largest market share. Pressure-treated wood is durable and long lasting. It can withstand extreme moist and icy conditions. Upon being treated with waterborne preservatives, pressure-treated wood products become resistant to internal decaying, rots, and insects, which has increased its preference among customers. The product is widely adopted in residential and infrastructural buildings. On the basis of applications, the market has been segmented as floor, wall, railing and others. For aesthetic reasons, people prefer wooden deck on floorings, walls, and railings, which are needed to ensure personal safety on all but true ground level decks.

On the basis of application, the market has been segmented as residential and non-residential. Residential segment dominates the application segment of the market, and is expected to grow at the highest CAGR during the forecast period. Rise in demand for wood decking across the residential segment, attributed to changing consumer lifestyle and increased consumer disposable income. Moreover, the growing demand across the construction industry, and increased home improvement & renovation projects, also fuel the demand of the market in residential applications. Non-residential application is expected to contribute significantly in the market growth during the forecast period, mainly due to increase in hospitality, corporate offices, education, and retail sector.

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North America region dominates the global wooden decking market
Geographically, the global wooden decking market has been divided into four major regions as North America, Europe, Asia Pacific and Rest of the World. North America region, has accounted for the largest market share, in 2016, followed by Europe. Increasing demand for low maintenance building products, is driving the growth of the market in North America region. U.S. contributes majorly in both, global and North America wooden decking market. Developments in commercial and residential structures in the U.S., is expected to fuel the demand for the market in the region. Additionally, consumer preference for green buildings and sustained investments in commercial real estate, have also had a positive influence on the growth of the market. Europe is the second-largest market for wood decking. Increasing repair and rehabilitation activities of existing infrastructure, creates huge potential for the market in the future.

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