Aug 14, 2021 (Market Insight Reports) -- The wooden decking market is expected to record a CAGR of over 5%, during the forecast period. The Global Wooden Decking Market Research Report 2021-2026 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data which enhances the understanding, scope, and application of this report.
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Key Market Players:
AZEK Building Products (TimberTech), Sundek Interio, United Construction Products Inc., DuraLife, Alfresco Floors Ltd, Koppers Inc., Humboldt Redwood Company, Kebony AS, Metsa Wood, Thermory AS, Trex Company Inc., Universal Forest Products Inc., Deck Solutions LLC and Other
Key Market Trends
Residential Sector to Dominate the Market
– Wooden decking is used in the residential sector, both for new construction and repair, and refurbishment in buildings. It is used for a wide variety of purposes, such as cladding and siding, pathways, swimming pool decks, flooring, etc., in residential construction. The increasing demand for residential projects, worldwide, is expected to drive the wooden decking market over the forecast period.
– Countries, such as the United States, Germany, and China, are expected to dominate the residential construction market during the forecast period.
– In the United States, the residential construction sector is expected to rise by around 6%, in 2019, with construction for single-family expected to rise by 9%, during the same year.
– In China, residential property investment was up by 11.6% in the first two months of 2019, the fastest pace recorded since August 2014. According to China’s National Bureau of Statistics, the primary residential sales reached USD1.9 trillion, in 2018.
– Overall, the booming residential market is expected to drive the usage of wooden decking in the residential sector, throughout the forecast period.
North America to Dominate the Market
– North America is one of the largest economies, with the United States and Canada in the leading positions.
– The United States is the worlds largest and most powerful economy. The US construction industry is expected to increase, driven by the growth in the residential sector.
– Residential construction for single families has witnessed a growth in the states of Florida, Georgia, North Carolina, Washington, Utah, Tennessee, Ohio, California, Idaho, and South Carolina. Geographically, the southern region of the country is expected to have the highest growth, followed by the West, the Midwest, and the Northeastern regions.
– The non-residential construction, educational building construction, and public building construction increased in 2018-2019, and are expected to grow further during the forecast period.
– The growing construction industry in the United States is projected to propel the North American wooden decking market, during the forecast period.
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What are the market factors that are explained in the report?
Executive Summary : It includes key trends of the global Wooden Decking market related to products, applications, and other crucial factors. It also provides an analysis of the competitive landscape and CAGR and market size of the global Wooden Decking market based on production and revenue.
Production and Consumption by Region : It covers all regional markets focusing on the research study. It discusses prices and key players besides production and consumption in each regional market.
Key Players : Here, the report throws light on financial ratios, pricing structure, production cost, gross profit, sales volume, revenue, and gross margin of leading and prominent companies competing in the global Wooden Decking market.
Market Segments : This part of the report discusses product type and application segments of the global Wooden Decking market based on market share, CAGR, market size, and various other factors.
Research Methodology : This section discusses the research methodology and approaches Wooden Decking used to prepare the report. It covers data triangulation, market breakdown, market size estimation, and research design and/or programs.