Wooden Decking Market - Future Trends, Demand & Growth!!!
The global wooden decking market is garnering significant traction. The market growth attributes to the increasing preference for wooden decking for aesthetics, low- maintenance, and cost-competitive flooring requirements. Wooden decking makes a more popular choice due to its aesthetics, maintenance requirements, and price range.
In its recently published wooden decking market analysis, Market Research Future (MRFR) asserts that the market is estimated to grow at around 1.37% CAGR during the forecast period (2018 – 2023). The wooden decking market perceives augmented demand worldwide. Wooden decking witnesses increasing uptake in developed (western) regions due to extreme cold weather and high living standards that demand a warm covering and attractive flooring options.
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Global Wooden Decking Market – Segmentation
The report is segmented into four dynamics:
By Type : Pressure-Treated Wood, Redwood, Cedar Wood, Tropical Hardwood, and others.
By Application : Floor, Wall, Railing, and others.
By End User : Residential and Non-residential.
By Regions : North America, Europe, Asia Pacific, and the Rest-of-the-World.
Global Wooden Decking Market – Regional Analysis
North America dominates the global wooden decking market. The largest market share attributes to the increasing demand for low maintenance building products. Besides, the rising technological advances in manufacturing techniques and the development of advanced materials drive the regional market growth. Moreover, increasing consumer preference for green buildings and sustainable materials in the region influences the growth of the market.
Europe stands second in the global wooden decking market. The market growth is driven by the rising adoption of wooden decking in educational and commercial industries. Additionally, the increasing technological advances influence the regional market growth, bringing about novel, highly-durable, cost-competitive, and maintenance-free materials.
The Asia Pacific region holds a sizable share in the global wooden decking market. Factors such as the rapidly growing construction sectors and the construction and upgrade activities in the region foster the market demand. Also, growing residential and non-residential construction activities increase the size of the wooden decking market in the region. Similarly, improving economic conditions in the region defines the growing market landscape.
China, Japan, India, and Singapore are the major markets, driving the growth of the regional market. Additionally, growing awareness about the benefits of wooden decking provides opportunities for market growth. Furthermore, rapid urbanization, changing lifestyles, and rising consumer preference drives market growth. The APAC wooden decking market is projected to create a substantial revenue pocket during the forecast period.
Fiercely competitive, the wooden decking market appears fragmented due to the presence of numerous players. Players compete on the basis of quality, branding, price, and extensive customer services. Due to the low product differentiation and availability of many similar products in the market, players aim to improve brand recall through effective marketing communications. The high growth potential demonstrated by the market is expected to attract several new entrants making the market more competitive.
Players leading the wooden decking market include UPM-Kymmene Corporation (Finland), Mohawk Industries, Inc. (US), Weyerhaeuser Company (US), Universal Forest Products, Inc. (US), West Fraser Timber Co. Ltd. (Canada), Metsa Group (Finland), James Latham plc (UK), Setra Group (Sweden), Cox Industries Inc. (US), Mendocino Redwood Company (US), Humboldt Redwood Company Vetedy Group (US)., Danzer (Austria), Trex Company, Inc. (US), and Shaw Industries Group, Inc. (US), among others.
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