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In-depth Analysis of the COVID-19 Impact on Wooden Decking Market

Wooden decks are manufactured using a primary wooden core structure and lumber. Wooden decks are strong, durable, and capable of bearing enough weight to support home owners enjoy an extended living area. The wooden decking market is expected to witness high growth as a result of the rising urbanization, large-scale investments in infrastructure & industrial sectors, and rising construction activities in emerging economies. The repairs and re modelling segment is projected to have the largest market share and dominate the wooden decking market from 2016 to 2021. New decks on new houses plays a key role in changing the wooden decking landscape and is projected to grow at the second-highest rate during the forecast period.
Wooden decking market size will grow from USD 7.21 Billion in 2015 to USD 7.81 Billion by 2021, at an estimated CAGR of 1.43%. 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.
Currently, North America is the largest consumer of wooden decks. The U.S., Germany, and China are among the key markets of wooden decks. The Asia-Pacific wooden decking market is projected to register the highest CAGR during the forecast period. The growth of the construction industry and improving financial conditions in the region has led to the increase in demand for wooden decks. The growth of the wooden decking market in these regions is driven by factors such as the increasing construction of residential and non-residential buildings, along with the growing population and economic development.
Target Audience
  • Wooden decking manufacturers
  • Raw material producers and suppliers
  • Wooden decking distributors and traders
  • End-use sectors
  • Government and R&D institutions
  • Market research and consulting firms
  • Associations and industry bodies
Factors such as fluctuations in wood and related material prices and availability of substitutes such as plastic decks and wood-polymer composite decks might restrict the growth of the market. The global wooden decking market is dominated by players such as 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.), Vetedy Group (U.S.). These players adopted various strategies such as new product developments, agreements, partnerships, and expansions to cater to the needs of the wooden decking market.
Get in-depth analysis of the COVID-19 impact on the Wooden Decking Market: https://www.marketsandmarkets.com/RequestCOVID19.asp?id=23321178
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Location: North America

Comments

  1. Emma Jasmine9 September 2022 at 03:31

    Thanks for sharing this valuable information about Decking material. You give deep knowledge about wooden deck. The deck is where you would eventually spend most of your time outdoors. So, it’s time to let it shine and show off your style. To add a visual sense of interest to your deck, get creative and add a contrasting texture along the edges and the deck. Only a few deck builders utilised high-quality materials; the majority used low-quality ones. Only skilled deck builders in Calgary are available from my home handyman, and they utilise only high-quality supplies materials.

    ReplyDelete

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