Global Wooden Decking Market to Grow at Moderate Rate; Asserts MRFR Releasing the Forecast for 2018-2023
With the rising technological advances over the past few years, decking
options have grown exponentially, offering durable, pressure-treated with
waterborne preservatives wood materials. Wooden decking is a proven economical,
long-lasting solution for covering the floor structure, and hence, it perceives
a broad uptake, attracting more consumers. Moreover, the rising uptake of
wooden decking as a flooring option escalates market growth.
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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Additionally, improving economic conditions, alongside the urbanization
and changing lifestyles of people in developing regions, create substantial
market demand. Furthermore, the rapid adoption of wooden decking in several
government buildings and facilities influence market growth, demonstrating
improved aesthetic value. Moreover, the benefits of wooden decking materials,
such as microbial protection and decorative finish, accelerate the market
demand.
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.
Also, substantial investments in commercial
real estate and growing construction projects foster market growth in the
region. The US, backed by the significant developments in commercial and
residential structures, exponentially contributes to the regional market
growth, accounting for the largest market share. The North American wooden
decking market is expected to retain its leadership throughout the forecast
period.
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.
Moreover, increasing demand for
low-maintenance flooring options in the burgeoning industries, such as
construction, automotive, and healthcare, boosts the growth of the regional
market. The European wooden decking market is expected to register a
substantial CAGR during the assessment period.
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.
Global Wooden
Decking Market – Competitive Landscape
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.
Major
Players:
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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Key Questions Addressed by the
Report
- What was the historic market size?
- Which segmentation (Product/
Capacity) is driving market?
- What will be the growth rate?
- How are the key players in this
market?
- What are the strategies adopted by
key players?
TABLE OF
CONTENTS
1 EXECUTIVE
SUMMARY
2 SCOPE OF
THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.1 DEFINITION
2.2.2 RESEARCH OBJECTIVE
2.2.3 ASSUMPTIONS
2.2.4 LIMITATIONS
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET
LANDSCAPE
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF BUYERS
3.1.3 THREAT OF SUBSTITUTES
3.1.4 SEGMENT RIVALRY
3.1.5 BARGAINING POWER OF BUYERS
3.2 VALUE CHAIN/SUPPLY CHAIN
ANALYSIS
4 MARKET
DYNAMICS
4.1 INTRODUCTION
4.2 MARKET DRIVERS
4.3 MARKET RESTRAINTS
4.4 MARKET OPPORTUNITIES
4.5 MARKET TRENDS
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