Timber decking: Key market research findings
- Easy availability of treated softwood fuels market growth
- The residential segment accounts for a majority of the market’s revenue
- Key vendors – AERT, Advantage Trim & Lumber, Fiberon, Timber Holding USA, TimberTech, and Trex
Technavio’s market research analysts predict the global market for timber decking to grow at a CAGR of almost 5% between 2016 and 2020. The growth of this market can be accredited to the increased availability of chemically and thermally treated softwood. There has been an increase in the demand for tropical timber for applications like decking, furniture, and joinery owing to the ready availability of chemically and thermally treated softwood and temperature hardwood. Treated wood is also used in almost 90% of decks because of their low cost and additional benefits such as durability and longer life span. Currently, North America dominates the global timber decking market by accounting for almost 39% of the overall market share. The increased demand for new housing projects coupled with growth opportunities in emerging markets such as Mexico will contribute to the growth of the timber decking market in North America during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the timber decking segments based on the end user.
“Decking for outdoor living spaces is becoming increasingly popular among consumers. It is considered more of an outdoor living space where people have their kitchen, fireplaces, and other things for entertainment and amusement. The underlying concept for the use of decks has changed, and this is significantly impacting the demand for timber decking. The trend of bringing the indoor living space to outdoors is essentially a smooth transition between the interior and exterior of a house,” says Sunil Kumar Singh, Lead Analyst, Hardware & Semiconductor, Technavio Research.
During 2015, the residential sector accounted for approximately 64% of the overall market revenue to become the key revenue generating end-user vertical in the global timber decking market. The growth prospects for the global residential timber decking market is driven by new projects as well as repair projects. Although there is a greater number of repair projects as compared with new projects, the cost of these projects is higher than their repair counterparts. According to our research analysts, upcoming projects in the residential sector will drive the market for timber decking over the next four years.
The key vendors in the global timber decking market include AERT, Advantage Trim & Lumber, Fiberon, Timber Holding USA, TimberTech, and Trex. Composite decking vendors are promoting tier-1 products with informative sessions and programs like Architect Program. It is a program where if an architect understands more about the product, he/she can win prizes such as iPad and more. Reward points are just to attract attention. Once an architect comes to know about the product, he/she can suggest it to the end-customer. It is a marketing strategy that many premium brands follow to increase sales.
A more detailed analysis is available in the Technavio report, Global Timber Decking Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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