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Global Wooden Decking Market Is Expected to Reach $18.62 billion by 2030: Allied Market Research

·4-min read

Increase in demand for residential projects, rise in demand for remodeling and retrofits, and Demand for pressure treated wood drive the growth of the global wooden decking market. North America contributed to the highest share in terms of revenue in 2020, holding nearly two-fifths of the global wooden decking market. However, the outbreak of the COVID-19 pandemic had a negative impact on the growth of the global wooden decking market

Portland, OR, Dec. 09, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global wooden decking market generated $13.85 billion in 2020, and is projected to reach $18.62 billion by 2030, witnessing a CAGR of 2.9% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.

Increase in demand for residential projects, rise in demand for remodeling and retrofits, and need for pressure treated wood drive the growth of the global wooden decking market. However, availability of substitutes and high cost restrain the growth to some extent. On the other hand, surge in population and urbanization presents new opportunities in the upcoming years.

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COVID-19 scenario:

  • The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global wooden decking market.

  • Delay in production due to less labor force, especially in the initial period of lockdown, has declined the usage of wooden decking in residential and commercial spaces, which in turn, hampered the market.

The report offers detailed segmentation of the global wooden decking market based on construction type, end user, and region.

Get detailed COVID-19 impact analysis on the Wooden Decking Market Request Here

Based on construction type, the renovation & repair segment held the highest market share in 2020, holding nearly three-fifths of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the same segment is estimated to register the highest CAGR of 3.1% from 2021 to 2030.

Based on end user, the residential segment held the largest market share in 2020, holding more than three-fifths of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the same segment is projected to register the highest CAGR of 3.1% from 2021 to 2030.

Based on region, North America contributed to the highest share in terms of revenue in 2020, holding nearly two-fifths of the global wooden decking market, and is estimated to continue its dominant share by 2030. Moreover, Asia-Pacific region is projected to manifest the fastest CAGR of 3.5% during the forecast period.

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Leading Manufacturers:

Leading players of the global wooden decking market analyzed in the research include Humboldt Redwood Company, James Latham PLC, Long Fence, Metsa Group, Setra Group AB, UFP Industries, UPM-Kymmene Corporation, Vetedy Group, West Fraser Timber Co. Ltd., Weyerhaeuser Company.

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About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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