The wooden decking market is expected to witness high growth as a result of the rising urbanization, large-scale investments in infrastructure & industrial sectors, and rising construction activities in emerging economies. The repairs and remodelling segment is projected to have the largest market share and dominate the wooden decking market from 2016 to 2021.
Seattle, WA -- (SBWIRE) -- 10/05/2017 -- The report "Wooden Decking Market by Type (Pressure-Treated Wood, Cedar Wood, Redwood), Application (Building Material, Rails & Infrastructure), Type of Construction (Repairs & Remodeling, New Decks on New Constructions), End-Use, and Region - Global Forecast to 2021", The wooden decking market size is estimated to grow from USD 7.21 Billion in 2015 to USD 7.81 Billion by 2021, at a CAGR of 1.43%.
Browse 189 market data Tables and 52 Figures spread through 213 Pages and in-depth TOC on "Wooden Decking Market by Type (Pressure-Treated Wood, Cedar Wood, Redwood), Application (Building Material, Rails & Infrastructure), Type of Construction (Repairs & Remodeling, New Decks on New Constructions), End-Use, and Region - Global Forecast to 2021"
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It is projected to witness significant growth in the next few years with the increasing demand for new constructions all over the world due to rapid urbanization and industrialization. Large-scale investments in industrial and infrastructure sectors, rising construction activities in emerging economies, and development of innovative products in the decking market are some of the factors driving the growth of the wooden decking market.
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Residential buildings to gain maximum traction during the forecast period
The residential buildings segment dominated the market in 2015 and is projected to be the fastest-growing end user sector in the next five years, as a result of the rising urbanization and the demand for better quality decks in homes. The residential market is driven by the rise in new and existing housing completions. Furthermore, wood provides properties such as superior aesthetics, quality, durability, and strength.
"North American wooden decking market constitutes the largest market share."
The U.S. contributes a major market share in the global as well as North American wooden decking market. The recovery of the U.S. residential market by 2010 after the 2007–2009 recession, and the increasing demand for low maintenance building products are some of the factors driving the wooden decking market in North America. This market in the U.S. is growing rapidly due to the presence of numerous leading players in this region.
The major players in the wooden decking market include UPM-Kymmene Corporation (Finland), Weyerhaeuser Company (U.S.), West Fraser Timber Co. Ltd. (Canada), Universal Forest Products, Inc. (U.S.), Metsä Group (Finland), Setra Group (Sweden), James Latham plc (U.K.), Cox Industries Inc. (U.S.), Humboldt Redwood Company and Mendocino Redwood Company (U.S.), and Vetedy Group (U.S.).
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