Decking Market: Residential Sector to Remain Leading End User Through 2020 Owing to Increasing Housing Construction
MarketResearchReports.Biz has announced addition of new report “Global Decking Market 2016-2020” to its database.
Albany, NY -- (SBWire) -- 12/08/2016 --The report provides a detailed description of the various aspects of the global decking market. As per the findings of the report, the market is poised to exhibit a CAGR of more than 6% from 2016 to 2020.
The rapid growth of the construction industry across the globe is driving the global decking market. Moreover, the rising disposable income of consumers is leading to higher affordability for high-end products, which is working in favor of the global market. Furthermore, the easy availability of thermally and chemically treated softwood for decking applications is stimulating the growth of the market.
However, the high cost of installation and maintenance is hindering the growth of the market. Moreover, the rising environmental concerns regarding deforestation is compelling government to introduce stringent regulations. The increasing stringency along with the seasonal constraints is limiting the widespread adoption of decking. Nevertheless, the growing consumption of plastic and aluminum in production of decking is likely to provide a significant push to the global market in the forthcoming years.
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On the basis of type, the global decking market is segmented into plastic, aluminum, timber, and composite. The timber segment was the leading revenue contributor in 2015 owing to its high availability and rising housing construction activities worldwide. However, the segment is estimated to lose its shares during the forecast period paving way for alternatives such as composite, aluminum, and plastic. The declining consumption of wood can be attributed to the rising concerns regarding deforestation.
Based on end user, the market is segmented into residential and non-residential. The residential sector will continue to dominate the market until 2020. The increasing residential construction projects and the subsequent need to maintain and repair them is propelling the segment. Geographically, North America will continue to be the leading market for decking throughout the forecast period. The growing applications of pressure-treated lumber products and the increasing number of upcoming projects are contributing to the growth of the region. Moreover, the rising demand for wood decking from developing countries such as Mexico is likely to augur well for the growth of the region.
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The global decking market is characterized by the presence of a large number of players offering cedar wood and naturally superior redwood, treated lumber, and exotic tropical hardwoods. The presence of substitutes such as PVC, aluminum, and composite decking poses a significant threat for other vendors. Moreover, companies are focusing on launching products such as balusters, fascia, handrails, and other decorative trims. Some of the key players are Advantage Trim & Lumber, Advanced Environmental, Fiberon, Recycling Technologies, TimberTech, Timber Holding USA, and Trex. Other prominent players operating in the market are Boral, Accsys Technologies, Dasso, Cali Bamboo, Eva-Last, East Teak Fine Hardwoods, MOSO, Kayu, Outdoor Structures Australia, Roseburg, UPM, Millboard, TAMKO, Westwood, Vetedy, and Western Forest Products.
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