About this market
Rising adoption of prefabricated construction solutions is likely to drive market growth. The popularity of prefabricated structures has been rapidly increasing across the world due to low cost and time savings. The various components or sections of buildings are fabricated under a controlled environment in a manufacturing facility and transported to the construction site for final assembly in prefabricated construction. Technavio’ s analysts have predicted that the decking market will register a CAGR of over 6% by 2022.
Market Overview
Changing lifestyles and increasing use of outdoor living spaces
Decking is used to extend residences and landscape gardens. Backyard decks are popular among residences in the US and Canada for lounging and dining. Residential buyers also prefer decking due to its aesthetic properties and low cost.
Fluctuating cost of timber
The furniture industry generates a significant demand for wood. Fluctuations in the supply of wood and the increasing cost of timber affect the wooden segment of the global decking market.
For the detailed list of factors that will drive and challenge the growth of the decking market during the 2018-2022, view our report.
Competitive Landscape
The market appears to be fragmented and with the presence of several companies including Universal Forest Products and UPM the competitive environment is quite intense. Factors such as the rising adoption of prefabricated construction solutions and the changing lifestyles and increasing use of outdoor living spaces, will provide considerable growth opportunities to decking manufactures. CRH, West Fraser, Trex Company, Universal Forest Products, and UPM are some of the major companies covered in this report.