Extended Lifespan Driving Wood Decking Market

The global wood decking market is forecast to grow from US$15 billion in 2020 and reach $21.33 billion by 2028, growing at a compound annual growth rate (CAGR) of 4.5 per cent during the forecast period, says a report from Fior Markets. Wood decking offers cost-effectiveness, outstanding durability, and attractive design. It is growing more popular as people want to spend more time outside and have more room in their homes. Decking also aids in transforming a plain-looking backyard into a relaxing or entertainment area for family and friends. Wood decks are becoming more popular among consumers due to their extended lifespan and low maintenance requirements. Driving this market across the globe is the wood decking’s versatility in nature, expanding infrastructural development, high durability, rapid industrialization, and strong economic circumstances. However, rising worries about high maintenance expenses and the cost of hardwoods being more expensive than other decking materials are limiting market expansion. Based on type, the market is segmented into pressure-treated wood, redwood, and cedar. The pressure-treated wood segment dominated the market and held the largest market share of 48 per cent in 2020. This growth is attributed to low cost and availability. Southern yellow pine and Douglas fir are the most commonly used pressure-treated woods for decking. This wood is usually softwood that has been chemically treated to make it pest and moisture resistant.