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Global Timber Decking Market – by Type, Application, Region - Market Size, Demand Forecasts, Company Profiles, Industry Trends and Updates (2018 - 2025)
Timber Decking Market – Segmented by Type, Application, Region | Market Size, Growth, Drivers, Trends, Industry Structure and Forecasts, Competitive Intelligence, Company Profiles | MarkGenes
A deck is a flat surface which is capable of supporting weight but is typically constructed outdoors which is often elevated and is usually connected to a building. Decking is defined as a flat timber surface designed as a structure to be deployed for outdoor use. It finds its application in residential as well as non-residential sectors, with different types of wood used for different applications.
The global timber decking market was USD 7.61 billion in 2018 and is estimated to reach USD 10.37 billion by 2025 at a CAGR of 4.52% during the forecast period
Growth by Region
North America dominates the global timber decking market, followed by Europe and Asia Pacific, with United States being a prominent region with many important companies in this area. The developments of residential and commercial structures in the U.S. is anticipated to fuel the market growth. Europe is the second-largest market having huge potential in the future owing to increasing repair and revamp activities of existing infrastructure. Asia Pacific is expected to experience the highest CAGR during the forecast period. This is because of rapidly growing construction activities in the region and growing awareness about wooden decking among consumers. The Middle East region is expected to contribute, significantly, during the forecast period, presuming to the changing lifestyle and high growth in construction sector.
Drivers vs Constraints
Some of the major factors driving the market are increased usage of decking for entertainment and amusement. Other factors include increase in consumer spending with timber decking being a capital intensive project, the increased availability of chemically and thermally treated softwood and growing building and construction industry. Some of the factors that hamper the growth of the market includes high costs and efforts required for the maintenance purposes, the seasonal nature of renovations and home improvements and also the market is subject to different restrictive government regulations.
Industry Trends and Updates
Increased adoption of plastic and aluminium decking with the concerns regarding the ecosystem building up and the consumers at large opting for a more sustainable and eco-friendly alternatives.
In March 2017, Business Growth Fund has invested £12 million in Accsys Technologies to support its ambitious growth strategy. This fund is subject to be utilized in the development of world’s first Tricoya wood chip manufacturing plant in Hull, along with the expansion of its existing facility in Netherlands.
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