Dublin, Jan. 10, 2023 (GLOBE NEWSWIRE) -- The "Global Wooden Decking Market 2022-2028" report has been added to ResearchAndMarkets.com's offering.
MARKET OUTLOOK
The publisher's report states that the global wooden decking market would advance with a CAGR of 4.82% in the forecasted period from 2022 to 2028.
Factors such as elevated housing & infrastructure demand in advanced economies and a rise in affordable housing projects are primarily contributing to the market growth. In addition, intensified remodeling activities have also enhanced the demand for wooden decking.
On the other hand, the growing preference for and usage of alternative wooden decking materials is a major hindrance in the path of growth. However, there is an increase in green building construction, which has raised the demand for wooden decks. This is expected to generate growth opportunities for the market.
REGIONAL OUTLOOK
The global market for wooden decking spans across Europe, the Asia-Pacific, North America, Latin America, and the Middle East and Africa.
The Asia-Pacific is expected to observe the fastest growth in the global market over the forecasted period. Several governments in the region provide tax benefits to encourage investment in wood decking, which is likely to support the market's growth.
Whereas, North America is the leading market globally, accounting for the largest share in 2021. Its growth can be largely accredited to the presence of a large number of market players. In addition, the United States and Canada are witnessing notable growth in construction activities, which is expected to elevate the demand for wood decking in the region.
COMPETITIVE OUTLOOK
The key players profiled in the report on the wooden decking market include Azek Company Inc, Metsa Group, Setra Group AB, UFP Industries Inc, Vetedy Group, Fiberon, West Fraser Timber Co Ltd, Humboldt Sawmill Company LLC, Inovar Floor, NeoTimber, Weyerhaeuser Company, DuraLife Decking & Railing Systems, Trex Company Inc, Tecnodeck (Mittera Group), Mendocino Forest Products Company LLC, Thermory AS, Deck Solutions LLC, UPM-Kymmene Oyj, and Kebony.
UFP Industries Inc designs and manufactures wood and wood-alternative products. Its product portfolio includes engineered wood components; structural lumber; customized interior fixtures; and specialty wood packaging, components, and packing materials.
The company also offers treated lumber, wall panels, specialty crates, pallets, decking & railing products, wood fencing, roof trusses, stakes, and landscaping & garden products. UFP Industries serves retailers and construction & industrial markets. With 208 facilities around the world, the company's global presence gives it a competitive edge over its rivals.
Market Dynamics
Market Drivers
- Intensification of Remodeling Activities
- Elevated Demand for Housing and Infrastructure in Advanced Economies
- Increase in Affordable Housing Projects
Market Challenge
- Growing Usage of Alternative Wood Decking Materials
Market Opportunity
- Rising Demand for Wooden Decks Due to An Increase in Green Building Construction
Key Topics Covered:
1. Global Wooden Decking Market - Summary
2. Industry Outlook
3. Global Wooden Decking Market Outlook - by Product Type
4. Global Wooden Decking Market Outlook - by Application
5. Global Wooden Decking Market Outlook - by End-User
6. Global Wooden Decking Market Outlook - Regional Outlook
7. Competitive Landscape
8. Research Methodology & Scope
Companies Mentioned
- Azek Company Inc
- Setra Group Ab
- Upm-Kymmene Oyj
- Metsa Group
- Vetedy Group
- Ufp Industries Inc
- Inovar Floor
- Deck Solutions LLC
- Humboldt Sawmill Company LLC
- Weyerhaeuser Company
- West Fraser Timber Co Ltd
- Duralife Decking & Railing Systems
- Thermory As
- Neotimber
- Fiberon
- Mendocino Forest Products Company LLC
- Trex Company Inc
- Kebony
- Tecnodeck (Mittera Group)
For more information about this report visit https://www.researchandmarkets.com/r/56fa4d
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