Deck Wood Manufacturing Industry. Wood Plastic Composite Decking (WPC Decking). Wood & Plastic Composite used in Flooring
Deck wood is used for both commercial as well as domestic purposes. Deck is nothing but a flat surface that is able to support and withstand weight. Wooden decking is used to build patios, garden landscaping, extend living areas, railings, and much more. Various types of wood, are used to make a wooden decking.
Wooden decking is being used in a number of homes for building patios, landscaping for gardens, or for extended the living area owing to its ease of design versatility and adaptability to varied purposes.
Wooden decking is used to build patios, garden landscaping, extend living areas, railings, and much more. Various types of wood, are used to make a wooden decking. Growing construction industry across the globe, is a major growth driver of the market. The increase in the private non-residential spending and the public non-residential spending, is also expected to contribute in the growth of the market.
On the basis of application, the market has been segmented as residential and non-residential. Residential segment dominates the application segment of the market, and is expected to grow at the highest CAGR during the forecast period. Rise in demand for wood decking across the residential segment, attributed to changing consumer lifestyle and increased consumer disposable income. Moreover, the growing demand across the construction industry, and increased home improvement & renovation projects, also fuel the demand of the market in residential applications. Non-residential application is expected to contribute significantly in the market growth during the forecast period, mainly due to increase in hospitality, corporate offices, education, and retail sector.
A large portion of the global population at present prefer wooden deck floorings, railings and walls for the aesthetic appeal they offer to the finished building, coupled with the feel the natural wood brings along with it. Moreover, wooden decking has turned highly popular among consumers looking for decks that have longevity. Moreover, rapid urbanization paired with massive investments in infrastructural activities, particularly in the emerging economies in the Asia Pacific region are anticipated to work in the favor of the wooden decking market. Furthermore, increasing awareness about wooden decking among the consumers is slated to bring about a number of lucrative opportunities for the wooden decking market in the coming years.
The global wooden decking market is segmented on the basis of type, application and end-user. Global Wood Decking market size will increase to Million US$ by 2025, from Million US$ in 2018, at a CAGR of during the forecast period. In this study, 2018 has been considered as the base year and 2019 to 2025 as the forecast period to estimate the market size for Wood Decking.
Type-based segments in the market include tropical hardwood, redwood, cedar wood, pressure-treated wood, and others. Among these, the pressure-treated wood holds the largest market share, as it is a pressure-treated wood which is highly durable and long lasting. This wood is able to withstand extreme moist as well as icy conditions. When it is treated with waterborne preservatives, the pressure-treated wood products turn highly resistant to internal decaying, insects and rots, thereby increasing its preference among customers. Moreover, the product is extensively adopted in residential as well as infrastructural buildings.
Asia Pacific is expected to grow at the highest CAGR during the forecast period. Rapidly growing construction activities in the region, are driving the demand of the market. China, Japan, India, and Singapore are the major markets in Asia Pacific region. Growing residential and non-residential construction activities in the region, are driving the growth of the market. Additionally, growing awareness about wooden decking, among consumers, is also expected to provide opportunities for market growth. In rest of the world, Middle East region is expected to contribute, significantly, during the forecast period, mainly due to changing lifestyle and high growth in construction sector.
It is projected to witness significant growth in the next few years with the increasing demand for new constructions all over the world due to rapid urbanization and industrialization. Large-scale investments in industrial and infrastructure sectors, rising construction activities in emerging economies, and development of innovative products in the decking market are some of the factors driving the growth of the Wooden Decking Market.
The major players in the wooden decking market include UPM-Kymmene Corporation (Finland), Weyerhaeuser Company (U.S.), West Fraser Timber Co. Ltd. (Canada), Universal Forest Products, Inc. (U.S.), Metsä Group (Finland), Setra Group (Sweden), James Latham plc (U.K.), Cox Industries Inc. (U.S.), Humboldt Redwood Company and Mendocino Redwood Company (U.S.), and Vetedy Group (U.S.).
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