Wooden decking is used for outdoor floors and walkways constructed using wood as the primary material. It is highly durable and provides an aesthetically appealing exterior to homes, commercial buildings, and landscapes. Wooden decking offers properties like slip resistance, low-maintenance, and longevity compared to other flooring options. It provides an elegant wooden aesthetic and is suitable for outdoor patios, pools, outdoor living spaces, and boardwalks.
The Global Wooden Decking Market is estimated to be valued at US$ 8.08 Mn in 2024 and is expected to exhibit a CAGR of 3.1% over the forecast period 2024 to 2031
Key takeaways
Key players operating in the wooden decking are Intertek Group Plc, SGS SA, Eurofins Scientific SE, Thermo Fisher Scientific, Inc., ALS Limited, Asurequality Limited, Bio-Rad Laboratories, Inc., and Bureau Veritas SA. These key players are strengthening their distribution networks and new product development efforts to cater to the rising demand. The growing construction of commercial buildings, residences, and infrastructure globally is propelling the demand for wooden decking materials. Technological advancements like waterproof coatings and woods treated with preservatives have enhanced the durability and lifespan of wooden decking products.
Market trends
Rapid urbanization and growing construction spending on infrastructure development projects across regions are fueling the wooden decking market. Additionally, the increasing disposable income and spending on outdoor remodeling projects in residential properties is also driving the demand. Another key trend is the rising popularity of eco-friendly and responsibly sourced wood types like European pine, tigerwood, and Brazilian walnut in decking materials. Manufacturers are offering customized deck designs, stains, and grilling stations to appeal to customers and expand market reach.
Market opportunities
One of the key opportunities for wooden decking market is the growing demand in commercial recreation centers, swimming pools, hotels, and theme parks. Wooden decking provides an elegant aesthetic and slip-resistant surface for outdoor areas in public spaces experiencing high footfall. Another major opportunity is the rising repairs and replacement demand of existing decking structures. As wooden decking has a lifespan of 15-20 years typically, the replacement requirement ensures continued demand. Sustainable sourcing and eco-friendly production practices also allow manufacturers to leverage lucrative growth opportunities.
Impact of COVID-19 on Wooden Decking Market Growth
The COVID-19 pandemic has significantly impacted the growth of the wooden decking market. During the peak of the pandemic in 2020-2021, restrictions on construction activities led to a decline in new deck installations. Supply chain disruptions also affected the availability of wooden decking materials. However, with people spending more time at home due to lockdowns and work from home policies, home renovation projects picked up momentum once restrictions were lifted. This included both repairs and installation of new wooden decks.
The demand for wooden decking materials recovered strongly in 2021 as restrictions eased in most regions. Additionally, the work from home trend continued and many homeowners invested in outdoor spaces to work and relax. This increased focus on outdoor living spaces drove the sales of wooden decking products. Although raw material costs increased amid supply challenges during the pandemic, higher selling prices were implemented to maintain profitability. Overall, the long-term outlook remains positive as people's preferences for spacious, high-quality outdoor areas are expected to sustain post-pandemic as well.
Geographical Regions With Highest Wooden Decking Market Value
The North America region accounts for the largest share of the global wooden decking market in terms of value. Countries such as the United States and Canada have witnessed substantial deck installations over the years due to strong construction spending and consumer preference for wooden outdoor spaces. Within North America, the United States is the dominant market globally with the highest number of existing wooden decks.
The Asia Pacific region has emerged as the fastest growing market for wooden decking globally. Countries like China, Japan and Australia have seen rising incomes and shifting trends towards outdoor living. This has boosted the demand for wooden decks from both residential and commercial sectors. Furthermore, growth in large scale construction projects involving hotels, resorts, waterfront developments supports the market expansion. The Asia Pacific region is expected to surpass North America in the coming years due to strong outlook.
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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
