Decking is a flat surface competent of supporting weight also is generally built outdoors as a part of garden landscaping and connected to a building, which adds a new aesthetic dimension to the house. Decking benefits in transforming a plain-looking backyard into a very entertaining area for the family to enjoy or relax. Wooden decks have grown popular and stimulate enthusiasm mainly for outdoor living plus add spaciousness to a house. Wooden decking is being utilized in several homes for building patios, landscaping for gardens, and for extending the living area due to its ease of design versatility including adaptability to varied purposes.
MARKET SCOPE
The "Global Wooden Decking Market Analysis to 2028" is a specialized and in-depth study of the manufacturing and construction industry with a special focus on the global market trend analysis. The report aims to provide an overview of the wooden decking market with detailed market segmentation by type, application, end-user, and geography. The report provides key statistics on the market status of the leading wooden decking market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on type, the global wooden decking market is segmented into pressure treated wood, redwood, cedar wood, tropical hardwood and others.
- On the basis of application, the market is segmented into floor, wall, railing and others.
- Based on end-user, the global wooden decking market is segmented into residential and non-residential.
MARKET DYNAMICS
Drivers:
- The wooden decking market has witnessed significant growth owing to factors such as wider applications in the floor, wall, railing, and others. Key drivers supporting the popularity of wooden decking are rapid industrialization, increased investment for infrastructural development, and strong economic conditions.
- Consumers have increasingly been utilizing wood decks owing to their long lifespan with low maintenance requirements. Homeowners' expenditure for improvement of homes as well as outdoor living areas encircling decks, patios, and balconies is likely to significantly impact the demand for decking materials shortly.
Restraints:
- However, hardwoods are expensive than other decking materials, which may restraint for the wooden decking market. Nevertheless, with the steady growth in the home construction sector, there are opportunities for the market players to invest in this market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The wooden decking market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the wooden decking market in these regions.
IMPACT OF COVID-19 ON WOODEN DECKING MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the wooden decking market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from wooden decking market are anticipated to lucrative growth opportunities in the future with the rising demand for wooden decking in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the wooden decking market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Cox Industries Inc.
- Humboldt Redwood Company
- James Latham
- METS
- Setra Group
- UFP Industries, Inc.
- UPM
- VETEDY GROUP
- West Fraser
- Weyerhaeuser Company
The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.