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Market Overview:
The Wooden Decking Market size is estimated to reach $34.8 billion by 2030, growing at a CAGR of 2.9% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Wooden Decking Market- By Type: (Redwood, Tropical Hardwood, Pressure Treated Wood, Cedar and Others), By Application: (Railing, Floor, Wall, Water and Waste Management, Tunnel and Landfills, Bridge and Highways and Others), By End Use Industry: (Residential, Non-Residential), By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030”. The growing use of Wooden Decking in residential and commercial construction projects, along with its expanding application in outdoor living spaces such as patios and garden decks, is fueling significant growth in the Wooden Decking market.
North America Dominated the Market in 2023
North America held the largest share in the wooden decking market in 2023 at 34%, owning to rising urbanization, large scale investments in infrastructure & industrial sectors, and rising construction activities in the region. The properties offered by wooden decks such as durability, sustainability, stability, splinter & rot resistance, and enhanced appearance is useful in application areas such as marinas, pool areas, resorts, docks, patios, hotels and others. The increase in disposable income of the urban population stimulates the construction of new houses in the region, which leads to an increase in demand for wooden decks.
Wooden Decking Market: Key Takeaways
Wooden Decking Segment to Hold the Largest Market Share
In the Wooden Decking market analysis, the residential segment is estimated to hold the largest market share in 2023 due to the growing trend of outdoor living spaces and eco-friendly construction practices. Wooden decking materials are favored for their aesthetic appeal and versatility, making them a popular choice in patios, gardens, and balconies. Advanced treatment processes like pressure-treated wood enhance durability against moisture, decay, and insects, contributing to the material's longevity in various weather conditions. The commercial segment also shows strong growth potential due to the increasing use of wooden decking in outdoor dining areas and public spaces, particularly in environmentally conscious markets.
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Outdoor Living and Renovation is the Fastest Growing Segment
According to the Wooden Decking market forecast, the outdoor living and renovation segment is expected to grow at a significant CAGR during the forecast period, driven by increasing investments in home improvement and landscaping projects. The COVID-19 pandemic spurred a global shift toward home renovation, with consumers focusing on enhancing outdoor spaces for relaxation and entertainment. Wooden decking has become a key feature in such projects, offering a natural, durable, and sustainable material option. Furthermore, the growing preference for eco-friendly and sustainable building materials has boosted demand for responsibly sourced wood, further propelling market growth.
Scope of the Report:
Wooden Decking Market: Competitive Landscape
Key companies profiled in the Wooden Decking Market are UPM-Kymmene Corporation, Weyerhaeuser Company, West Fraser Timber Co. Ltd. and others.
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