Wooden Decking Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)

The report covers Plastic Decking Companies and is segmented by Type (Pressure-treated Wood, Redwood, Tropical Hardwood, Cedar, Wood-Plastic Composites, and Other Types), Application (Railing, Floor, Wall, and Other Applications), End User (Residential and Non-residential), and Geography (Asia-Pacific, North America, Europe, and Rest of the World). The report offers market size and forecasts for wooden decking in terms of revenue (USD million) for all the above segments.

Wooden Decking Market Size

Wooden Decking Market Summary
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Study Period 2018 - 2028
Market Size (2023) USD 23.41 Billion
Market Size (2028) USD 30.44 Billion
CAGR (2023 - 2028) 5.39 %
Fastest Growing Market Asia-Pacific
Largest Market North America

Major Players

Wooden Decking Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Wooden Decking Market Analysis

The Global Wooden Decking Market size is expected to grow from USD 23.41 billion in 2023 to USD 30.44 billion by 2028, at a CAGR of 5.39% during the forecast period (2023-2028).

In 2020, due to the COVID-19 pandemic, most infrastructure projects were shut down for a specified period. Owing to this, the demand for wooden decking was reduced drastically. However, the sector has been recovering well since restrictions were lifted. Growing investments in the construction sector globally and favorable government policies have been leading the market recovery in 2021 and 2022.

  • Over the long term, an increase in remodeling and refurbishment activities and the demand for housing and lavish infrastructure in developed nations will likely stimulate the market demand.
  • On the flip side, replacement by composite decking is expected to hinder the market's growth.
  • Wood modification for enhanced properties is likely to create opportunities for the market in the coming years.
  • The Asia-Pacific region is likely to witness the highest CAGR during the forecast period.

Wooden Decking Market Trends

This section covers the major market trends shaping the Wooden Decking Market according to our research experts:

Increasing Usage in the Residential Sector

  • Wooden decking is used in the residential sector, both for new construction and repair and refurbishment in buildings. It is used for various purposes in residential construction, such as cladding and siding, pathways, swimming pool decks, and flooring. The increasing demand for residential projects worldwide is expected to drive the wooden decking market over the forecast period.
  • Globally, there has been a significant undersupply to meet the demand for housing. This presented a substantial opportunity for investors and developers to embrace alternative construction methods and new partnerships to bring forward development.
  • The highest growth for housing is expected to be registered in the Asia-Pacific region, owing to the expanding housing construction markets in China and India. These two regions are expected to represent over 43.3% of the global middle class by 2030.
  • Furthermore, India is expected to witness an investment of around USD 1.3 trillion in housing over the next six years. It is anticipated to witness the construction of 60 million new homes. The availability of affordable housing is expected to rise by around 70% in 2024. The Indian government's 'Housing for All by 2022' is also a significant game-changer for the industry. This initiative aims to build more than 20 million affordable homes for the urban poor by 2022. This will provide a substantial boost to housing construction.
  • Demographics in the country are expected to continue to spur growth in residential construction. Rising household income levels, combined with the population migrating from rural to urban areas, are expected to continue to drive demand for the residential construction sector in the country.
  • According to the Harvard Joint Center for Housing Studies, it is estimated that Americans alone spend more than USD 400 billion a year on residential renovations and repairs, which is expected to create a significant market for wooden decking in the country.
  • Similarly, the United Arab Emirates has an exceptionally well-connected residential plaza under construction in the heart of Dubai's new growth corridor, Al Furjan. Azizi Developments has been engaged in developing the plaza, which includes 16 luxurious penthouses, 46 one-bedroom units, 86 two-bedroom residences, and 286 studios.
  • Germany has the most significant construction industry in Europe. The construction industry in the country has been growing at a slow pace, majorly driven by increasing new residential construction activities.
  • Owing to all these factors, the wooden decking market will likely grow globally during the forecast period.
Wooden Decking Market : Revenue CAGR (%), by End-User Industry, Global, 2022-2027

North America Region is Expected to Dominate the Market

  • North America is one of the largest economies globally, with the United States and Canada in the leading positions.
  • The United States is the world's largest and most powerful economy. The residential construction sector accounts for the most significant market share in the United States. The COVID-19 pandemic created a demand for housing in areas away from crowded cities, and homebound employees decided to invest in home improvement projects.
  • As per the United States Census Bureau, the residential construction industry in the United States was valued at USD 929.7 billion in July 2022 compared to USD 815.5 billion in July 2021, registering a growth of 14%. The aging houses signal a growing remodeling market, as old structures normally need to add new amenities or repair/replace old components. Rising home prices in the country have also encouraged homeowners to spend more on home improvements.
  • Owner-occupied homes constructed in the United States between 2000 and 2009 make up 16% of the housing stock. However, more than half of the owner-occupied homes were built before 1980, with around 38% built before 1970, severely driving up the need to remodel old houses. Also, the renovation of existing housing should continue to perform well, given the various government support measures for energy efficiency improvements. This will further create considerable opportunities for the wooden decking market in the region.
  • According to the Canadian Construction Association, the construction sector is one of the prominent employers (around 1.4 million) and a significant contributor to the country's economic success. The industry comprises 70% of small and medium-sized enterprises (SMEs). The industry contributes around 7.5% of the country's GDP.
  • The residential construction sector is booming in Canada for all housing types, ranging from single-family homes to high-rise apartment blocks, due to the low-interest rates and high demand for space. The rental apartment sector is also witnessing significant demand for accommodating the growing urban population.
  • Additionally, an increase in household income, progress in Canada's vaccination drive, and a recovery in the global economy enabled the market's growth in 2021.
  • As part of the 'Investing in Canada Plan,' the government announced plans to invest nearly USD 140 billion for significant infrastructure developments by 2028.
  • There has been a boom in constructing skyscrapers in Canada (especially in Toronto). Over 30 high-rise buildings are expected to be completed by 2025, and another 50 such buildings are in Toronto's proposal and planning phases.
  • In Mexico, the rising middle-class population and growing investments in affordable housing construction are expected to increase the demand for residential buildings in the coming years.
  • Due to all such factors, the market for wooden decking in the region is expected to have steady growth during the forecast period.
Wooden Decking Market : Growing Rate by Region 2022-2027

Wooden Decking Industry Overview

The wooden decking market is fragmented in nature. Some major companies include The AZEK Company LLC, Trex Company Inc., DuraLife Decking and Railing Systems, Fiberon, and Metsa Wood (not in any particular order).

Wooden Decking Market Leaders

  1. Trex Company, Inc

  2. The AZEK Company LLC

  3. Fiberon

  4. Metsa Wood

  5. DuraLife Decking and Railing Systems

*Disclaimer: Major Players sorted in no particular order

Wooden Decking Market - Market Concentration.png

Wooden Decking Market News

  • November 2022: The US-based company, AZEK Company Inc., announced a new suite of offerings from its StruXure and TimberTech brands, which includes new decking colors, and new railing offerings, among others. The product will be available in the market from 2023.
  • October 2022: The United States-based company Deckorators Inc., a leading brand of composite decking, railing, and other products, announced providing two new colors for its new Venture Decking product line. The two colors are Sandbox, a classic medium-brown, and Saltwater, a warm smokey-taupe.

Wooden Decking Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increase in Remodeling and Refurbishment Activities

      2. 4.1.2 Demand for Housing and Lavish Infrastructure in Developed Nations

    2. 4.2 Restraints

      1. 4.2.1 Replacement by Composite Decking

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION (Market Size in Value)

    1. 5.1 By Type

      1. 5.1.1 Pressure-treated Wood

      2. 5.1.2 RedWood

      3. 5.1.3 Tropical Hardwood

      4. 5.1.4 Cedar

      5. 5.1.5 Wood-Plastic Composites (WPC)

      6. 5.1.6 Other Types (Thermally Modified Wood, Acetylated Wood)

    2. 5.2 By Application

      1. 5.2.1 Railing

      2. 5.2.2 Floor

      3. 5.2.3 Wall

      4. 5.2.4 Other Applications

    3. 5.3 By End-user Industry

      1. 5.3.1 Residential

      2. 5.3.2 Non-residential

    4. 5.4 By Geography

      1. 5.4.1 Asia-Pacific

        1. 5.4.1.1 China

        2. 5.4.1.2 India

        3. 5.4.1.3 Japan

        4. 5.4.1.4 South Korea

        5. 5.4.1.5 Rest of Asia-Pacific

      2. 5.4.2 North America

        1. 5.4.2.1 United States

        2. 5.4.2.2 Canada

        3. 5.4.2.3 Mexico

      3. 5.4.3 Europe

        1. 5.4.3.1 Germany

        2. 5.4.3.2 United Kingdom

        3. 5.4.3.3 Italy

        4. 5.4.3.4 France

        5. 5.4.3.5 Rest of Europe

      4. 5.4.4 Rest of the World

        1. 5.4.4.1 South America

        2. 5.4.4.2 Middle East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share (%)**/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Deck Solutions LLC

      2. 6.4.2 Deckorators Inc.

      3. 6.4.3 DuraLife Decking and Railing Systems

      4. 6.4.4 Fiberon

      5. 6.4.5 Humboldt Sawmill Company LLC

      6. 6.4.6 Kebony AS

      7. 6.4.7 Mendocino Forest Products Company LLC

      8. 6.4.8 Metsa Wood

      9. 6.4.9 NeoTimber

      10. 6.4.10 Shubh Composites

      11. 6.4.11 Tecnodeck (Mitera Group)

      12. 6.4.12 The AZEK Company LLC

      13. 6.4.13 Thermory

      14. 6.4.14 Trex Company Inc.

      15. 6.4.15 United Construction Products Inc. (BISON Innovative Products)

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Wood Modification for Enhanced Properties

**Subject to Availability

Wooden Decking Industry Segmentation

A deck is an elevated surface usually constructed outdoors, elevated from the ground, and connected to the buildings. A wooden deck gives functional outdoor living space. A railing mainly encloses it for safety purposes. Wooden deck rails are composed of an assembly of parts. There are different methods for building guardrails with various materials for decks, but most rails made from wood share a common set of components. The wooden decking market is segmented by type, application, end-user industry, and geography. The market is segmented by pressure-treated wood, redwood, tropical hardwood, cedar, wood-plastic composites, and other types. By application, the market is segmented into the railing, floor, wall, and other applications. By end-user industry, the market is segmented into residential and non-residential. The report also covers the market size and forecasts for the wooden decking market in 11 countries across major regions. For each segment, the market sizing and forecasts have been done based on revenue (USD million).

By Type
Pressure-treated Wood
RedWood
Tropical Hardwood
Cedar
Wood-Plastic Composites (WPC)
Other Types (Thermally Modified Wood, Acetylated Wood)
By Application
Railing
Floor
Wall
Other Applications
By End-user Industry
Residential
Non-residential
By Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
Italy
France
Rest of Europe
Rest of the World
South America
Middle East and Africa

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Wooden Decking Market Research FAQs

The Wooden Decking Market size is expected to reach USD 23.41 billion in 2023 and grow at a CAGR of 5.39% to reach USD 30.44 billion by 2028.

In 2023, the Wooden Decking Market size is expected to reach USD 23.41 billion.

Trex Company, Inc, The AZEK Company LLC, Fiberon, Metsa Wood and DuraLife Decking and Railing Systems are the major companies operating in the Wooden Decking Market.

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2023-2028).

In 2023, the North America accounts for the largest market share in the Wooden Decking Market.

Wooden Decking Industry Report

Statistics for the 2023 Wooden Decking market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Wooden Decking analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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