Industry Background:
The construction industry plays an important role in the overall economy of the country. Hence, increasing focus on the construction sector globally boosting the demand for wooden decking. It is a flat surface generally constructed outdoors as a part of garden landscaping and others for enhancing the aesthetic dimension of the house. The rise in demand may be attributed to factors such as rising demand for home renovation & improvement and a growing number of new construction projects in emerging economies. Moreover, growing infrastructural development across generating lucrative opportunities for the wooden decking market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | UPM-Kymmene Corporation (Finland), Weyerhaeuser Company (United States), West Fraser Timber Co. Ltd. (Canada), Universal Forest Products, Inc. (United States), Metsä Group (Finland), Setra Group (Sweden), James Latham plc (United Kingdom), Cox Industries Inc. (United States), Humboldt Redwood Company and Mendocino Redwood Company (United States) and Vetedy Group (United States) |
According to AMA, the market for Wooden Decking is expected to register a CAGR of 1.9% during the forecast period to 2030. This growth is primarily driven by Increasing Demand from the Construction Industry and Changing Customer Lifestyle and Rise in Per Capita Income.
Globally, a noticeable market trend is evident Rising Demand of Luxury Home
Major Vendors, such as UPM-Kymmene Corporation (Finland), Weyerhaeuser Company (United States), West Fraser Timber Co. Ltd. (Canada), Universal Forest Products, Inc. (United States), Metsä Group (Finland), Setra Group (Sweden), James Latham plc (United Kingdom), Cox Industries Inc. (United States), Humboldt Redwood Company and Mendocino Redwood Company (United States) and Vetedy Group (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. Market players are focusing on partnerships, collaborations, and new product launches in order to increase their offerings in the synthetic fibers market. In addition, companies are focusing on increasing their client base to strengthen market position and to enhance product offerings.
Influencing Trend:
Rising Demand of Luxury Home and Growing Adoption of For Enhancing the Aesthetic Beauty of Households
Market Growth Drivers:
Increasing Demand from the Construction Industry and Changing Customer Lifestyle and Rise in Per Capita Income
Challenges:
Availability of Easy to Install Substitute Products such as Wood-Polymer Composite and Plastic Decks
Restraints:
Fluctuating Raw Material Prices
Opportunities:
Rising Demand for Home Renovation & Improvement and Growing Number of New Construction Projects in Emerging Economies
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Wooden Decking Market
- Analysis about New Entrants in Wooden Decking Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Wooden Decking Study Sheds Light on
The Wooden Decking Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Wooden Decking industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Wooden Decking industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.