Data Gives Deck Pros Reasons to Beam with Optimism

The decking market size is expected to grow by $4.19 billion from 2021 to 2025, according to recent data from leading market analysis research firm Technavio. Moreover, the growth momentum of the market will progress at a compound annual growth rate of 5.27% during the forecast period. This is exciting news for decking professionals, as—similar to the pool industry projected growth recently released by Technavio—the industry isn’t slowing down anytime soon.

A look at the current market

The global decking market is fragmented, and vendors are deploying growth strategies that include expanding their footprint in developing countries and providing aftersales services and customized products to compete in the market, according to the report. In addition, several regional and local vendors have started manufacturing customized composite decking and are competing with traditional vendors based on cost. More competition can result in lower prices for consumers, so keep an eye out for falling prices on your regularly used products.

As a revenue generator, the composite segment will have significant market share growth during the forecast period.

Composite decking is manufactured using reclaimed wood fibers and scrap polyethylene. Reclaimed wood is a by-product of the manufacturing of other timber for lumber-producing activities such as sawn wood and flooring. The major suppliers of reclaimed wood are companies that offer cabinets, flooring, and waste from sawing. Composite provides the aesthetics and functionality of wood. It can also withstand moisture and rot and requires low maintenance. These features, along with the eco-friendliness of composite, have increased its demand among residential end-users.

Vendor analysis: According to the report, Advantage Lumber, Beologic, CRH, Fiberon, AZEK, Trex, UFP Industries, UPM, West Fraser and Weyerhaeuser are some of the major market participants. The key offerings of some of these vendors are listed below: