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The decking market size is forecast to increase by USD 6.27 billion at a CAGR of 6.51% between 2023 and 2028. The market is experiencing significant growth due to several key factors. First, the shift towards outdoor living spaces and changing lifestyles is driving demand for high-quality decking solutions. This trend is particularly evident in the United States, where homeowners are investing in home improvements to enhance their outdoor living experiences. Additionally, the availability of alternatives to traditional wooden decking, such as those made by Fiberon and Metsa Wood, is expanding the market. These alternatives, which include plastic decks, offer benefits like low maintenance and durability, making them attractive options for homeowners. Furthermore, the repair and remodeling sector presents a significant opportunity for growth, as many existing decks require upgrades or replacement.
Raw material suppliers are responding to these trends by investing in research and development to produce innovative and sustainable decking solutions. Overall, the market is poised for continued expansion, driven by a combination of consumer preferences, industry trends, and technological advancements. Keywords: the market, outdoor living spaces, changing lifestyles, home improvement industry, Fiberon, Metsa Wood, plastic decks, raw material suppliers, repairs and remodeling.
The North American market is witnessing significant growth driven by the increasing demand for outdoor living spaces. This trend is observed across various sectors, including residential and commercial, as people seek to enhance their properties with attractive and durable decking solutions. Traditional wooden decking materials, such as pressure-treated wood, redwood, tropical hardwood, cedar, and wooden planks, continue to dominate the market. These materials offer natural aesthetics and are widely preferred for their durability and versatility. However, the growing preference for low-maintenance and eco-friendly options has led to the emergence of alternative decking materials.
Moreover, wood-plastic composites and wood-polymer composites have gained considerable traction in recent years. These materials offer the appearance of wood with the added benefits of enhanced durability, resistance to weather conditions, and minimal maintenance requirements. The demand for these composite decking solutions is expected to grow as consumers become increasingly conscious of the environmental impact of their choices. The market also includes the repair and refurbishment segment, which caters to the restoration of existing decks. This sector is expected to grow as property owners look to extend the life of their outdoor living spaces. Additionally, the cladding and siding market, which utilizes similar materials, is experiencing growth due to the increasing popularity of outdoor living spaces and the desire for visually appealing exteriors.
Additionally, raw material suppliers play a crucial role in the market, providing the necessary resources for both traditional and composite decking manufacturers. The availability and cost of raw materials significantly impact the pricing and production capacity of the industry. Outdoor spaces, such as gardens, patios, balconies, and swimming pool areas, are the primary applications for decking materials. The increasing interior square footage dedicated to these areas further boosts the demand for decking materials. In conclusion, the North American market is a dynamic and evolving industry, driven by the growing demand for outdoor living spaces and the desire for low-maintenance, eco-friendly, and visually appealing decking solutions.
In conclusion, the market encompasses various sectors, including traditional wooden decking, composite decking, repair and refurbishment, and cladding and siding. The availability and cost of raw materials remain essential factors influencing the market's growth.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The residential segment is estimated to witness significant growth during the forecast period. The market is experiencing growth due to the expansion of residential construction projects. In the US, the initiation of maintenance and repair works on existing homes is driving the demand for decking materials, particularly wood-polymer composite decks. Furthermore, the increasing disposable income of Americans is leading to an increase in home improvement projects, including the addition of wooden boards and planks for outdoor spaces such as gardens, patios, and balconies. Simultaneously, in the Asia Pacific (APAC) region, the growth of the residential segment of the market is being fueled by the construction of new residences and public infrastructure.
Additionally, rapid urbanization in countries like China, India, Malaysia, and Indonesia necessitates the need for new homes and public spaces. Governments in these countries have implemented initiatives to support residential construction, leading to an increase in the volume of projects and, subsequently, the demand for decking materials. In conclusion, the growth of the residential construction sector in the US, Europe, and APAC is driving the expansion of the market. In the US, the focus is on maintenance and repair projects, while in APAC, the construction of new residences and public infrastructure is leading to increased demand for decking materials. Wood-polymer composite decks, wooden boards, and planks continue to be popular choices for outdoor spaces, including gardens and patios, in both regions.
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The residential segment was valued at USD 8.66 billion in 2018 and showed a gradual increase during the forecast period.
North America is estimated to contribute 41% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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In North America, decks have become a popular addition to most residential properties, with homeowners increasingly opting for composite decking over traditional wood options. The largest market share in the US is held by pressure-treated lumber, which is favored for its affordability and ease of repair and improvement. Redwood and cedarwood, known for their durability and natural beauty, are also widely used in the region. The housing market in North America has experienced consistent growth in 2022, with the US and Canada seeing an increase in demand for decking materials. The housing sector in Mexico has also experienced a resurgence, with the nationwide house price index showing steady growth since 2014. This trend has led to an influx of US and Canadian buyers seeking out decking solutions in Mexico. Households in North America continue to prioritize outdoor living spaces, making decking a valuable investment for property owners.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The changing lifestyles and increasing use of outdoor living spaces is the key driver of the market. Decking plays a significant role in enhancing residential and commercial outdoor spaces in the United States and Canada. Homeowners value decking for its aesthetic appeal and cost-effectiveness, making it a popular choice for backyard lounging and dining areas. In non-residential applications, decking is utilized in various settings such as hotels, theme parks, leisure centers, and boardwalks to maximize open spaces.
Additionally, some companies offer easy-to-install decking solutions for commercial use. The evolving lifestyle trends and increasing preference for outdoor living spaces are fueling the demand for decking, leading to the growth of the market. Two primary types of decking materials are Tropical Hardwood and Cedar, while Wood-Plastic Composites and Composite decking are also gaining popularity due to their durability and low maintenance requirements.
The growing home improvement industry is the upcoming trend in the market. The market is poised for substantial expansion over the coming years, fueled by the escalating demand for personalized outdoor design among consumers and the ongoing urbanization trend. Consumers' shifting preferences toward homes offering superior comfort and convenience have created a favorable environment for the growth of the decking industry.
Moreover, the expanding disposable income of populations, particularly in developing economies, is expected to fuel the demand for home improvement services, including the installation of composite decks. Fiberon and Metsa Wood are prominent suppliers of raw materials in the market. Plastic decks are gaining popularity due to their low-maintenance properties, making them an ideal choice for outdoor entertainment areas. Repairs and remodeling projects also contribute significantly to the market's growth. Overall, the market is expected to experience steady growth during the forecast period.
The availability of alternatives for decking is a key challenge affecting the market growth. Concrete flooring serves as a durable and cost-effective alternative to traditional wood and composite decking for exterior applications. Despite its rougher surface texture, it can withstand significant stress and pressure, making it a preferred choice for high-traffic areas and structures requiring long-lasting flooring solutions.
Additionally, alternatives such as tiles and fiber cement decking offer distinct advantages. Tiles can be customized to enhance the aesthetic appeal of residences, while fiber cement decking provides excellent resistance to heat and moisture, making it an ideal option for hot and humid climates. Although the demand for these alternatives was previously lower than that of decking, their wide availability and affordability are driving their increasing popularity. Concrete flooring, tiles, and fiber cement decking cater to the repair and refurbishment needs of various structures, including cladding and siding, pathways, and swimming pool decks, as well as flooring applications within the housing market.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Advantage Trim and Lumber Co - The company offers a variety of hardwood-decking, custom hardwood lumber, domestic and exotic wood flooring, and custom mouldings.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market encompasses a wide range of products, including tropical hardwoods, cedar, and wood-plastic composites. Tropical hardwoods, known for their durability and natural beauty, are popular choices for outdoor spaces such as gardens, patios, balconies, swimming pool decks, and pathways. Cedar, with its distinctive aroma and resistance to rot, is another preferred option for decking. Composite decking, made from a combination of wood and plastic, has gained significant traction in recent years due to its low maintenance requirements and longevity. Wood modification techniques, such as acetylation and thermowood, are also driving growth in the market by enhancing the durability and resistance of wooden decking.
The wooden decking market has experienced significant growth in recent years, driven by the housing demand for new decks on new houses and renovations in both residential and nonresidential buildings. The properties of wooden decks, including their natural beauty and durability, make them a popular choice for homeowners and businesses alike. However, fluctuations in wood prices can impact the affordability of traditional wooden decks, leading to an increase in demand for alternative options. One such alternative is wood plastic composite decking products, which offer the look and feel of wood without the maintenance requirements or price volatility. These composites, made from a combination of wood and plastic, are increasingly being used in new constructions and repairs and remodeling projects. Swimming pool areas are a common application for these materials, as they provide a slip-resistant surface and are resistant to water damage. DIY wooden decking products are also popular, allowing homeowners to save on installation costs. However, it's important to note that the installation process for these decks can be more complex than traditional wooden decks. Wood plastic composite decks and wood plastic composites offer a more cost-effective and maintenance-free alternative to traditional wooden decks, making them an attractive option for both homeowners and businesses in the construction industry.
In conclusion, the demand for decking materials is fueled by the housing sector, with interior square footage expansion and renovation projects driving the need for new and refurbished decks. Cladding and siding, as well as flooring applications, are other areas where wooden decking finds extensive use. Raw material suppliers, including Fiberon and Metsa Wood, play a crucial role in the production of wooden decking. Repairs and remodeling projects, as well as the construction of new decks, provide ample opportunities for growth in the market. Plastic decks and wood-polymer composite decks are alternative options that cater to specific market segments. Wooden boards and planks, available in various sizes and designs, are essential components of decking projects. The deck size, railing, floor, and wall are critical factors influencing the selection of decking materials.
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Market Scope |
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Report Coverage |
Details |
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Page number |
165 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.51% |
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Market growth 2024-2028 |
USD 6.27 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
5.54 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 41% |
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Key countries |
US, Canada, China, UK, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Advantage Trim and Lumber Co., Beologic N.V., CRH Plc, Fortune Brands Innovations Inc., Hardy Smith Designs Pvt. Ltd., Humboldt Redwood Company LLC, James Latham Plc, JSW STEEL Ltd., METSA GROUP, NewTechWood America Inc., Saraswati Wood Pvt. Ltd, The AZEK Co. Inc., Timber Holdings USA, Trex Co. Inc., UFP Industries Inc., UPM-Kymmene Corp., VETEDY GROUP, West Fraser Timber Co. Ltd., Weyerhaeuser Co., and Xylos Arteriors India Pvt Ltd |
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Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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