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The demand for wooden decking has increased for residential as well as commercial and industrial purposes. Read more about the wooden decking market report.
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Wooden Decking | Innovations & Market Recovery Inrecentyears,thedemandforwoodendeckinghasincreasedforresidentialaswellascommercialandindustrialpurposes.Asperouranalysis,theglobal wooden decking marketislikelytodevelopwithaCAGRof4.82%duringtheforecastyearsfrom2022to2028.Rapidurbanization,elevateddemandforhousing,andanincreaseinremodelingactivitiesduetorisinglivingstandards,aresomeofthekeyfactorsdrivingthemarket’sgrowth. RobustConstructionSector– KeyGrowthInfluencer Wooddeckingiswidelyemployedintheresidentialsectorfornewlyconstructeddwellingsandalsoformaintenance&renovationpurposes.Americansspendover$400billiononhomerenovationsandrepairseveryyear,aspertheHarvardJointCenterforHousingStudies.ThestrongdemandandtheavailabilityofplentifulresourcesintheUnitedStateshaveaidedthegrowthoftheNorth Americawooden decking market,whichaccountedforthehighestsharegloballyin2021. Moreover,theriseincommercialandinfrastructuralprojectsaroundtheglobe,suchasthedevelopmentofhospitals,schools,governmentfacilities,airports,seaports,terminals,etc.,hasalsoboostedthedemandforwoodendecking.Inaddition,governmentsacrosstheworldareimplementing supportivepoliciesandplansforthedevelopmentofaffordablehomes.Asaresultoftherisinghousing
&infrastructuredemand,coupledwiththeneedforrepairs&renovation,massiveinvestmentsarebeingmadeintheconstructionindustry.Thisisanticipatedtostrengthenthewoodendeckingmarket.&infrastructuredemand,coupledwiththeneedforrepairs&renovation,massiveinvestmentsarebeingmadeintheconstructionindustry.Thisisanticipatedtostrengthenthewoodendeckingmarket. Wide-scaleAdoptionofAcetylatedWood Inrecentyears,significantadvancementshavebeenmadeinthefieldofwoodmodification,promptedbyrisingenvironmentalconcernsandenhanceddemandforhigh-qualitywoodproducts.Acetylationisachemicalprocessusedtoprovidespecializedpropertiestowood,suchenhanceddurabilityanddimensionalstability. Hence,severalcompaniesareincreasingtheiracetylatedwoodproduction.Forinstance,EastmanChemical,oneoftheleadingcelluloseacetatemakersintheworld,acetylateswoodatitschemicalcomplexinKingsport,Tennessee(theUnitedStates).Furthermore,AccsysTechnologiesacetylateswoodinArnhem,Gelderland(theNetherlands),andalsolicensesitsacetylationtechnologytothirdparties. InTritonMarketResearch’sreport,acetylatedwoodisstudiedundertheotherproducttypessegment,andisexpectedtogrowataCAGRof4.06%duringtheforecastperiod. CounteringtheThreatofSubstitutes Traditionally,woodhasbeenthemostcommondeckingmaterial.However,woodsubstituteslikemetal,PVC,rubberpavertiles,concrete,andothercomposites,arealsobeingincreasinglypreferred. Compositedeckingcomparativelyrequireslessmaintenanceandisdesignedtobemoredurable.Besides,woodisamoreexpensivedeckingmaterial.Thegrowingdemandfortheaforementionedalternativeshasopenedupnewopportunitiesfortheirmanufacturers,whilealsoloweringbuyers’ switchingcosts. This,however,isamajorhurdleinthepathofmarketgrowth.Toregainusers’ attention,woodendeckmanufacturerscanprovidedeckinstallationandmaintenanceservices,whichincludechemicaltreatment&periodicmaintenanceofwoodplanks,panels,pillars,anddecorativecomponents. Marketplayerscanalsoleveragetheadvantagewoodprovidesovercompositedeckingmaterialsduringsummer,ascompositesarelessresistanttoheat,giventheirdensity.Customsolutionsandtechintegrationarealsosomeinnovativemeasurestocapturecustomerinterest.InOctober2021,TimberTechpartneredwiththepremieronlinelandscapedesignplatform,Yardzen,tosimplifytheprocessforhomeownerslookingtodesigncustomoutdoordecks.Incorporatingdigitallyconnectedprocessesanddiversifyingsupplysourceswillthusprovidecompanieswithlucrativegrowthavenues. PreferenceforGreenConstructions Withthegrowingfocusonsustainability,greenconstructioninitiativesareincreasingallovertheworld.Thesebuildingsareconstructedwithenvironment-friendlymaterials,atzero-emissionconstructionsites,andareenergy-efficient.In2021,Indiaemergedasoneoftheworld’sleadingnationstohavegreenandsustainablebuildingsandprojects,rankingthirdontheUnitedStates’ GreenBuildingCouncil’sannuallistofthetop10countriesoutsideoftheUSforLeadershipinEnergyand EnvironmentalDesign.
Franceisalsopromotingtheuseofeco-friendlycomponentsinbuildingconstructiontolimitemissionsandensuresustainability.Whereas,Argentinahasinitiateditsgreenbuildingmovementwithmorethan300projectsalreadybeingregistered.Also,LusailCity,isafuturisticsustainablecitybeingplannedinQatar,aspartofa$45billionproject.Therisingdemandforgreenbuildings,coupledwithincreasingconstructionactivity,isexpectedtodrivethedemandforwoodendecks.This,inturn,willbolsterthedevelopmentoftheoverallwoodendeckingmarket.Franceisalsopromotingtheuseofeco-friendlycomponentsinbuildingconstructiontolimitemissionsandensuresustainability.Whereas,Argentinahasinitiateditsgreenbuildingmovementwithmorethan300projectsalreadybeingregistered.Also,LusailCity,isafuturisticsustainablecitybeingplannedinQatar,aspartofa$45billionproject.Therisingdemandforgreenbuildings,coupledwithincreasingconstructionactivity,isexpectedtodrivethedemandforwoodendecks.This,inturn,willbolsterthedevelopmentoftheoverallwoodendeckingmarket. FAQs: Q1)Whataretherevenueestimatesfortheglobalmarket? Theglobalwoodendeckingmarketwasvaluedat$20161.16millionin2021andisexpectedtoreacharevenueof$27936.26millionby2028. Q2)Whicharethesegmentsstudiedinthemarketreport? ProductType,Application,andEnd-userarethemainsegmentsstudiedinthewoodendeckingmarketreport.
