The global decking market is expected to grow by USD 4.89 billion as per Technavio. This marks a significant market slow down compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, healthy growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of almost 6%.
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Technavio has announced its latest market research report titled Global Decking Market 2020-2024 (Graphic: Business Wire).
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Read the 120-page report with TOC on “Decking Market Analysis Report by Product (Composite, Wood, Plastic, and Aluminum), Geography (North America, Europe, APAC, South America, and MEA), Application (Residential and Non-residential), and the Segment Forecasts, 2020-2024”.
The market is driven by the changing lifestyles and increasing use of outdoor living spaces. In addition, the rising adoption of prefabricated construction solutions is anticipated to boost the growth of the decking market.
The popularity of decking has increased among consumers as it is an affordable way of enhancing the aesthetics of living spaces. This has increased the demand for decking in various residential and non-residential applications such as terraces, boardwalks, balconies, leisure centers, patios, and theme parks. Over the years, changing lifestyles and the rising use of outdoor living spaces has significantly increased the use of backyard decks across developed countries such as the US and Canada. This is encouraging vendors to offer decking that is easy to install for both residential and commercial applications. All these factors are contributing to the growth of the global decking market.
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Major Five Decking Companies:
Advantage Trim & Lumber Co.
Advantage Trim & Lumber Co. operates its business through the Decking segment. The company offers composite decking for end-users.
Beologic operates its business through the Wood and natural composites segment. The company offers outdoor decking.
CRH Plc operates its business through segments such as Americas Materials, Europe Materials, and Building Products. The company offers wooden decking.
Fiberon operates its business through segments such as Decking, Railing, Deck fasteners, Composite cladding, and Fencing. The company offers composite and wood decking.
The AZEK Co. LLC
The AZEK Co. LLC operates its business through segments such as AZEK Building Products, VERSATEX, Scranton Products, and Vycom. The company offers wooden decking.
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Decking Market Product Outlook (Revenue, USD Billion, 2020-2024)
Decking Market Geography Outlook (Revenue, USD Billion, 2020-2024)
Decking Market Application Outlook (Revenue, USD Billion, 2020-2024)
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