The global wooden decking market was valued at USD 7.6 billion in 2022. The industry is gaining pace as companies provide new products with improved features for specific applications in various end use industries and garnering USD 10.4 billion in 2033, recording a CAGR of 2.9% from 2023 to 2033. The market is likely to secure USD 7.8 billion in 2023.
| Data Points | Key Statistics |
|---|---|
| Wooden Decking Market Size Value in 2023 | USD 7.8 billion |
| Wooden Decking Market Forecast Value in 2033 | USD 10.4 billion |
| Global Growth Rate | 2.9% CAGR |
| Forecast Period | 2023 to 2033 |
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| Historical CAGR (2018 to 2022) | 3.8% |
|---|---|
| Forecast CAGR (2023 to 2033) | 2.9% |
From 2018 to 2022 the wooden decking market expanded at a CAGR of 3.8%. Wooden decking is highly durable and it enhances the look and feel of the residential and commercial spaces.
The increasing demand for outdoor living spaces and the rapid growth of the construction industry are the major factors expected to drive the growth of the wooden decking market. Wooden decking gaining popularity owing to its durability, aesthetic appeal, and affordability.
The increasing demand for eco-friendly material in flooring is gaining significant traction and is expected to provide an opportunity for growth of the wooden decking market during the forecast period. The wooden decking market is projected to reach USD 10.4 billion by the end of the forecast period.
Expanding Residential and Commercial Sectors to Drive the Growth of the Wooden Decking Market
Increasing demand from public infrastructural development projects is expected to provide opportunities for the growth of the market. Increasing government investment in residential projects is also expected to augment the market growth during the forecast period.
The increasing demand for outdoor living spaces like balconies, patios, and decks, is increasing due to changing lifestyles and increased preference for spending time outdoors, which is likely to drive the growth of the wooden decking market in coming years.
Increasing Infrastructural Renovation is Likely to Open New Opportunities for Market Growth
The increasing importance of renovation and patio decor in the decor industry is likely to fuel the wooden decking market growth in the coming years. Increasing renovation activities in urban areas and an increase in the adoption of outdoor entertainment areas by millennial home buyers and increase disposable income fuels the wooden decking solution in the residential sector.
Increased preference for floor covering in luxury homes and increasing demand for durable flooring option is encouraging market players to develop new products. Companies are coming up with improved decking products that are low maintenance. These products are driving the demand for wooden decking and expanding the market growth.
Increased Application of Composite Decking is Likely to Impede the Market Growth
Although there are several advantages to adopting wooden decking, there are numerous obstacles that likely pose a challenge to market growth. The increasing replacement of wooden decking with composite decking may hamper the growth of the market during the forecast period.
Building decks and outdoor spaces with composite decking is gaining popularity as it provides unparalleled beauty, requires minimum care, and has exceptional durability. The increasing availability of another low-cost alternative which in turn expected to hampers the growth of the global market.
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Rapid Growth of the Construction Industry to Boost the Growth of the Wooden Decking Market in the United States
The global wooden decking market is expected to be dominated by North America. The market is anticipated to expand at a CAGR of 2.9% and is expected to accumulate a market value of USD 1.9 billion over the forecast period.
The United States remains the leading consumer of wooden decks. The rapid development of the residential construction sector in the United States is expected to drive the growth of the wooden decking market in the region.
The rapidly growing construction industry in the region led to increasing demand for residential units and single houses in the United States creating an opportunity for the growth of the market. The increasing popularity of outdoor
living spaces and the availability of different wood species suitable for decking drives the market growth in the United States.
Increasing Demand for Sustainable Products to Boost the Growth of the Market in the United Kingdom
The wooden decking sales in the United Kingdom are expected to keep rising with a CAGR of 2.5% and are expected to gain a market value of USD 407.7 million by the end of the forecast period.
The growth of the market in the region is attributed to the increasing focus on sustainability and environmental concerns in the United Kingdom. The companies adopting sustainable production practices and using wood from certified sources to meet the demand for eco-friendly decking material. The changing consumer preferences, increasing urbanization, and increase in the renovation of buildings in the region are expected to provide lucrative opportunities for the growth of the market in the United Kingdom.
Growing Urbanization to Drive the Growth of the Market in China
China’s wooden decking market is expected to rise at a 2.8% CAGR between 2023 to 2033. The growth forecast for the China market remains positive on account of the increasing demand for low-maintenance and sustainable decking solutions. The market is expected to gain a market value of USD 2.6 billion by the end of the forecast period.
The Chinese wooden decking market is driven by factors such as increasing urbanization, rising income, changing lifestyle, and increased spending power. The rapid growth of outdoor spaces such as balconies and rooftops in high-rise buildings has led to increasing demand for wooden decks.
Increasing demand for low-maintenance decking material and increased use of composite decking made up of wood and plastics are gaining traction in the region. The market players in the region are coming up with new and innovative decking materials suitable to customer needs is driving the growth of the market in the region.
Pressure Treated Wood Segment Generated High Revenue
Based on wood type, the wooden decking market is segmented into pressure-treated wood, redwood, cedar wood, and others. The pressure-treated wood segment is expected to dominate the market in the forecast period. The segment is projected to exhibit a CAGR of 2.7% during the forecast period.
The growth of the segment is attributed to the ease of maintaining the pressure-treated wooden decking and pressure-treated wooden decking last longer as compared to other types. Thus it’s an ideal choice for decking wood and highly preferred On the other hand, redwood segments account for a significant market share during the forecast period.
Repairs & Remodeling Segment to Gain Significant Traction During the Forecast Period
Based on the construction type, the market is segmented into repair & remodeling and new deck segment. Among these repair & remodeling segments remains the top construction type category is expected to expand with a CAGR of 2.5% throughout the forecast period.
The repair and renovation activities are gaining traction owing to the rise in prices of new homes is expected to drive the growth of the segment during the forecast period. On the other hand, the new deck segment is expected to account for a significant market share.
New players in the wooden decking market are Accord Floors, HKS Flooring LLP, and shubh composite among others, are adopting various marketing strategies such as new product launches, geographical expansion, mergers and acquisitions, partnerships, and collaboration to identify the interest of potential buyers and creating a larger customer base. For instance
Prominent players in the wooden decking market are Georgia-Pacific LLC; Boral Ltd.; Boise Cascade Company; Builders FirstSource, Inc; AZEK Building Products, Inc., among others.
The key players in the wooden decking market are focusing on improved productivity and quality of their products in order to gain more customer base. Key players are working on research & development activities for the effective composition of the material that is to be used for manufacturing.
Other expansion strategies of key players include extensive research & development activities, collaborations, and mergers & acquisitions. Some notable developments are as follows:
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 2.9% from 2023 to2033 |
| Market Value in 2022 | USD 7.8 billion |
| Market Value in 2032 | USD 10.4 billion |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Wood Type, Construction Type, Application, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East and Africa |
| Key Countries Profiled | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, China, Japan, South Korea, Singapore, Thailand, Indonesia, Australia, New Zealand, GCC, South Africa, Israel |
| Key Companies Profiled | Georgia-Pacific LLC; Boral Ltd.; Boise Cascade Company; Builders FirstSource Inc.; AZEK Building Products Inc.; Hood Industries; Beland Forest Products Ltd.; Cali Bamboo LLC; Accsys Technologies Plc.; Dasso Group |
| Customization & Pricing | Available upon Request |
The market is pegged to attain USD 7.8 billion in 2023.
The market is expected to expand at a CAGR of 2.9% through 2033.
Surging demand for eco-friendly material in flooring is a key trend in the market.
The United Kingdom market is expected to expand at a CAGR of 2.5% through 2033.
Pressure treated wood is highly preferred in the wooden decking market.
| Market Value for 2024 | USD 4.30 billion |
|---|---|
| Projected Market Value for 2034 | USD 5.80 billion |
| Value-based CAGR (2024 to 2034) | 3.10% |
| Market Estimated Size in 2024 | USD 1.1 billion |
|---|---|
| Projected Market Value in 2034 | USD 1.5 billion |
| Value-based CAGR from 2024 to 2034 | 3.5% |
| Market Value (2023) | USD 193.2 million |
|---|---|
| Market Projected Value (2033) | USD 308.8 million |
| Market CAGR (2023 to 2033) | 4.8% |
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Wooden Decking Market
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