Wood & Competitive Decking - Demand and Sales Forecasts, Market Share, Market Size, Market Leaders

Study #: 3789 | Published: 02/2020 | Pages: 161 | Individual User License: US$ 5,700

US demand for decking is projected to increase 1.3% annually through 2023 to 3.6 billion lineal feet. Gains will be driven by the need to renovate portions of the largest existing pressure-treated lumber deck stock. Additionally, growth in single-family housing completions will support demand growth, as some of these builders include decks to improve the value and marketability of a home.

Key Findings in the Wood & Competitive Decking Study:

Wood to Remain the Most Used Decking Material

Wood is the largest decking material segment in both lineal feet and value terms, and will account for the majority of decking demand growth through 2023. Wood is popular because of its relatively low cost, appealing aesthetic, and familiarity with homeowners and contractors. Additionally, wood decking has substantial maintenance requirements and is less durable than most other decking materials, which supports wood decking demand in renovation applications.

Residential to Remain the Largest Market

The residential market accounted for 70% of decking demand in volume terms in 2018 and will account for the majority of demand gains through 2023. Growth in residential renovation spending will boost decking demand as a significant portion of existing decks will require renovation or outright replacement. Growth will also be supported by sustained gains in single-family housing construction and increases in average deck sizes. In addition to boosting the new residential market, construction of housing will aid the renovation market because decks are often added within the first year after a house is built.

Wood-Alternative Products to Increase Decking Share

Alternatives to wood decking – particularly wood-plastic composite and plastic lumber – are expected to experience above average annual gains in demand through 2023, as these products require less maintenance than wood, which can make them less expensive in the long run.

Wood-plastic composite is gaining popularity because it provides durability while maintaining a wood-like appearance. Additionally, advances in product aesthetics and the use of capstock-coated decking – which provides enhanced protection against mold growth and premature degradation – will further boost wood-plastic composite decking demand. Plastic decking demand will be driven by the rising use of cellular PVC decking, which resembles natural wood and provides strong protection against the elements.

Study Coverage

This Freedonia study analyzes the US decking industry. It presents historical demand (2008, 2013, 2018) and forecasts for 2023 and 2028 by material (wood, wood-plastic composite) in lineal feet and dollars and by market (residential, commercial, nonbuilding) and region (Northeast, Midwest, South, West) in lineal feet. In addition, the study analyzes company market share for competitors such as CPG International, Fortune Brands, Trex, and Westlake Chemical.

Key Findings in the Global Corrugated Boxes Study:

Wood to Remain the Most Used Decking Material

Wood is the largest decking material segment in both lineal feet and value terms, and will account for the majority of decking demand growth through 2023. Wood is popular because of its relatively low cost, appealing aesthetic, and familiarity with homeowners and contractors. Additionally, wood decking has substantial maintenance requirements and is less durable than most other decking materials, which supports wood decking demand in renovation applications.

Residential to Remain the Largest Market

The residential market accounted for 70% of decking demand in volume terms in 2018 and will account for the majority of demand gains through 2023. Growth in residential renovation spending will boost decking demand as a significant portion of existing decks will require renovation or outright replacement. Growth will also be supported by sustained gains in single-family housing construction and increases in average deck sizes. In addition to boosting the new residential market, construction of housing will aid the renovation market because decks are often added within the first year after a house is built.

Wood-Alternative Products to Increase Decking Share

Alternatives to wood decking – particularly wood-plastic composite and plastic lumber – are expected to experience above average annual gains in demand through 2023, as these products require less maintenance than wood, which can make them less expensive in the long run.

Wood-plastic composite is gaining popularity because it provides durability while maintaining a wood-like appearance. Additionally, advances in product aesthetics and the use of capstock-coated decking – which provides enhanced protection against mold growth and premature degradation – will further boost wood-plastic composite decking demand. Plastic decking demand will be driven by the rising use of cellular PVC decking, which resembles natural wood and provides strong protection against the elements.

Study Coverage

This Freedonia study analyzes the US decking industry. It presents historical demand (2008, 2013, 2018) and forecasts for 2023 and 2028 by material (wood, wood-plastic composite) in lineal feet and dollars and by market (residential, commercial, nonbuilding) and region (Northeast, Midwest, South, West) in lineal feet. In addition, the study analyzes company market share for competitors such as CPG International, Fortune Brands, Trex, and Westlake Chemical.


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Table of Contents

1. Executive Summary

2. Overview

Key Findings

Foreign Trade & Tariffs

Historical Market Trends

Decking Demand by Product

Definition & Scope

Volume Demand (Lineal Feet)

Value Demand

Decking Demand by Market

Decking Substructure Demand

Pricing Trends

3. Factors Affecting Decking Demand

Construction Industry Outlook

Regulatory & Environmental Trends

Building Codes

Timber Harvesting, Recyclability, & Treated Lumber

Decking Installation & Labor Shortages

Lifecycle Costs

Style Trends & Aesthetic Appeal

Outdoor Living Trends

4. Wood Decking

Wood Decking: Volume & Value Demand

Types of Wood Decking

Demand by Wood Type

Pressure-Treated Wood

Redwood

Cedar

Tropical Hardwood & Other Wood Types

Wood Decking: Demand by Market

Wood Decking: Demand by Application (New vs. Renovation)

Wood Decking: Demand by Installation Method

Wood Decking: Suppliers

5. Wood-Plastic Composite Decking

Wood-Plastic Composite Decking: Volume & Value Demand

Wood-Plastic Composite Decking: Demand by Plastic Type

Wood-Plastic Composite Decking: Demand by Market

Wood-Plastic Composite Decking: Demand by Application (New vs. Renovation)

Wood-Plastic Composite Decking: Demand by Installation Method

Wood-Plastic Composite Decking: Demand by Surface Treatment

Market Share

6. Plastic & Other Decking

Plastic & Other Decking: Volume & Value Demand

Plastic & Other Decking: Demand by Market

Plastic Decking

Plastic Decking: Demand by Material

Vinyl Decking Demand by Function

Vinyl Decking Demand by Type

Polyethylene & Other Plastic Decking

Plastic Decking Market Share

Other Decking Product Demand

7. Residential Building Markets

Key Findings

Residential Building Demand by Application & Product

New Residential

Residential Renovation

Residential Housing Types

Demand by Housing Type

Single-Family Housing

Multifamily Housing

Manufactured Housing

8. Commercial & Nonbuilding Markets

Key Findings

Commercial Markets

Commercial Markets Demand by Application & Product

New Commercial

Commercial Renovation

Nonbuilding Markets

Nonbuilding Markets Demand by Application & Product

New Nonbuilding

Nonbuilding Renovation

9. Regions

Key Findings

Demand by Region

Northeast

Northeast: Demand by Market

Northeast: Demand by Subregion (Northeast & Middle Atlantic)

Midwest

Midwest: Demand by Market

Midwest: Demand by Subregion (East North Central & West North Central)

South

South: Demand by Market

South: Demand by Subregion (South Atlantic, East South Central, West South Central)

West

West: Demand by Market

West: Demand by Subregion (Mountain & Pacific)

10. Industry Structure

Key Findings & Industry Composition

Market Share

Wood Decking

Wood-Plastic Composite, Plastic, & Other Decking Materials

Product Development

Manufacturing

Marketing

Distribution

Cooperative Agreements

Mergers & Acquisitions

List of Industry Participants

11. Appendix

Scope

Definitions

Abbreviations

Freedonia Methodology

Study-Specific Methodology

Sources

Associations & Agencies

Related Studies & Reports

Macroeconomic Assumptions

Economic Environment

Demographics

Construction Expenditures

Building Construction

Residential Building Construction

Residential Improvements & Repairs

Commercial Building Construction

Commercial Building Improvements & Repairs

Nonbuilding Construction Expenditures


List of Tables

2. Overview

Table 2-1 | Decking Demand, 2008 - 2018 (million lineal feet)

Table 2-2 | Decking Demand by Product, 2008 - 2028 (million lineal feet)

Table 2-3 | Decking Demand by Product, 2008 - 2028 (million lineal feet & million dollars)

Table 2-4 | Decking Demand by Market, 2008 - 2028 (million lineal feet)

Table 2-5 | Decking Substructure Demand by Market, 2008 - 2028 (million dollars & million lineal feet)

Table 2-6 | Decking Average Prices, 2008 - 2028 (dollars per lineal foot)

3. Factors Affecting Decking Demand

Table 3-1 | Construction Expenditures, 2008 - 2028 (billion 2012 dollars & billion dollars)

Table 3-2 | Decking Installed Costs by Material (dollars)

4. Wood Decking

Table 4-1 | Wood Decking Demand by Function, 2008 - 2028 (million lineal feet & million dollars)

Table 4-2 | Wood Decking Demand by Type, 2008 - 2028 (million lineal feet)

Table 4-3 | Pressure Treated Wood Decking Demand by Function & Species (million lineal feet & million dollars)

Table 4-4 | Redwood Decking Demand by Function, 2008 - 2028 (million lineal feet & million dollars)

Table 4-5 | Cedar Decking Demand by Function, 2008 - 2028 (million lineal feet & million dollars)

Table 4-6 | Tropical Hardwood & Other Wood Decking Demand by Function, 2008 - 2028 (million lineal feet & million dollars)

Table 4-7 | Wood Decking Demand by Market, 2008 - 2028 (million lineal feet)

Table 4-8 | Wood Decking Demand by Application, 2008 - 2028 (million lineal feet)

Table 4-9 | Wood Decking Demand by Installation Method, 2008 - 2028 (million lineal feet)

5. Wood-Plastic Composite Decking

Table 5-1 | Wood-Plastic Composite Demand Decking by Function (million lineal feet & million dollars)

Table 5-2 | Wood-Plastic Composite Demand by Plastic Type, 2008 - 2028 (million lineal feet)

Table 5-3 | Wood-Plastic Composite Decking Demand by Market, 2008 - 2028 (million lineal feet)

Table 5-4 | Wood-Plastic Composite Decking Demand by Application, 2008 - 2028 (million lineal feet)

Table 5-5 | Wood-Plastic Composite Decking Demand by Installation Method, 2008 - 2028 (million lineal feet)

Table 5-6 | Wood-Plastic Composite Decking Demand by Surface Treatment, 2008 - 2028 (million lineal feet & million dollars)

6. Plastic & Other Decking

Table 6-1 | Plastic & Other Materials Decking Demand, 2008 - 2028 (million lineal feet & million dollars)

Table 6-2 | Plastic & Other Materials Decking Demand by Market, 2008 - 2028 (million lineal feet)

Table 6-3 | Plastic Decking Demand by Material, 2008 - 2028 (million lineal feet)

Table 6-4 | Vinyl Decking Demand by Function, 2008 - 2028 (million lineal feet & million dollars)

Table 6-5 | Vinyl Decking Demand by Type, 2008 - 2028 (million lineal feet & million dollars)

Table 6-6 | Polyethylene & Other Plastic Decking Demand by Material & Function, 2008 - 2028 (million lineal feet & million dollars)

Table 6-7 | Other Decking Demand by Function, 2008 - 2028 (million lineal feet & million dollars)

7. Residential Building Markets

Table 7-1 | Residential Decking Demand by Application & Product, 2008 - 2028 (million lineal feet & million dollars)

Table 7-2 | New Residential Decking Demand by Product, 2008 - 2028 (million lineal feet & million dollars)

Table 7-3 | Residential Renovation Decking Demand by Product, 2008 - 2028 (million lineal feet & million dollars)

Table 7-4 | Residential Decking Demand by Housing Type, 2008 - 2028 (million lineal feet)

Table 7-5 | Single-Family Housing Decking Demand by Application & Product, 2008 - 2028 (million lineal feet)

Table 7-6 | Multifamily Housing Decking Demand by Application & Product, 2008 - 2023 (million lineal feet)

Table 7-7 | Manufactured Housing Decking Demand by Application & Product, 2008 - 2023 (million lineal feet)

8. Commercial & Nonbuilding Markets

Table 8-1 | Commercial Decking Demand by Application & Product, 2008 - 2028 (million lineal feet & million dollars)

Table 8-2 | New Commercial Decking Demand by Product, 2008 - 2028 (million lineal feet & million dollars)

Table 8-3 | Commercial Renovation Decking Demand by Product, 2008 - 2028 (million lineal feet & million dollars)

Table 8-4 | Nonbuilding Decking Demand by Application & Product, 2008 - 2028 (million lineal feet & million dollars)

Table 8-5 | New Nonbuilding Decking Demand by Product, 2008 - 2028 (million lineal feet & million dollars)

Table 8-6 | Commercial Nonbuilding Decking Demand by Product, 2008 - 2028 (million lineal feet & million dollars)

9. Regions

Table 9-1 | Decking Demand by Region, 2008 - 2028 (million lineal feet)

Table 9-2 | Northeast Decking Demand by Market, 2008 - 2028 (million lineal feet)

Table 9-3 | Northeast Decking Demand by Subregion, 2008 - 2028 (million lineal feet)

Table 9-4 | Midwest Decking Demand by Market, 2008 - 2028 (million lineal feet)

Table 9-5 | Midwest Decking Demand by Subregion, 2008 - 2028 (million lineal feet)

Table 9-6 | South Decking Demand by Market, 2008 - 2028 (million lineal feet)

Table 9-7 | South Decking Demand by Subregion, 2008 - 2028 (million lineal feet)

Table 9-8 | West Decking Demand by Market, 2008 - 2028 (million lineal feet)

Table 9-9 | West Decking Demand by Subregion, 2008 - 2028 (million lineal feet)

10. Industry Structure

Table 10-1 | Decking Industry Sales by Company, 2018 (million dollars)

Table 10-2 | Selected Cooperative Agreements

Table 10-3 | Selected Mergers & Acquisitions

Table 10-4 | Selected Industry Participants

11. Appendix

Table 11-1 | Study Scope: US Geographic Regions & Subregions

Table 11-2 | Relevant Industry Codes

Table 11-3 | Relevant HS Codes

Table 11-4 | Abbreviations & Acronyms Used in Study

Table 11-5 | Macroeconomic Indicators, 2008 - 2028 (billion 2012 dollars & billion dollars)

Table 11-6 | Population & Households, 2008 - 2028 (million persons)

Table 11-7 | Construction Expenditures, 2008 - 2028 (billion 2012 dollars & billion dollars)

Table 11-8 | Building Construction Expenditures, 2008 - 2028 (billion 2012 dollars & billion dollars)

Table 11-9 | Residential Building Construction Expenditures, 2008 - 2028 (billion 2012 dollars & billion dollars)

Table 11-10 | Residential Improvement & Repair Expenditures, 2008 - 2028 (billion 2012 dollars & billion dollars)

Table 11-11 | Commercial Building Construction Expenditures, 2008 - 2028 (billion 2012 dollars & billion dollars)

Table 11-12 | Commercial Building Improvement & Repair Expenditures, 2008 - 2028 (billion 2012 dollars & billion dollars)

Table 11-13 | Nonbuilding Construction Expenditures, 2008 - 2028 (billion 2012 dollars & billion dollars)


List of Figures

1. Executive Summary

Figure 1-1 | Key Trends in the US Decking Market

2. Overview

Figure 2-1 | US Decking Market

Figure 2-2 | Decking Demand, 2008 - 2018 (million lineal feet)

Figure 2-3 | Decking Demand Share by Market, 2018 (billion lineal feet)

3. Factors Affecting Decking Demand

Figure 3-1 | Installation Information for Selected Decking Materials

Figure 3-2 | Consumer Interest in Outdoor Cooking & Entertaining by Age Group, 2018 (percent)

4. Wood Decking

Figure 4-1 | Advantages of Selected Wood Decking Types

5. Wood-Plastic Composite Decking

Figure 5-1 | Wood-Plastic Composite Decking Market Share by Company, 2018 (billion dollars)

6. Plastic & Other Decking

Figure 6-1 | Plastic Decking Market Share by Company, 2018 (million dollars)

7. Residential Building Markets

Figure 7-1 | Key Trends in the Residential Decking Market

8. Commercial & Nonbuilding Markets

Figure 8-1 | Commercial & Nonbuilding Decking Market Trends

9. Regions

Figure 9-1 | Regional Decking Trends

Figure 9-2 | Decking Demand Share by Region, 2018 (billion lineal feet)

10. Industry Structure

Figure 10-1 | Nonwood Decking Market Share by Company, 2018 (billion dollars)

11. Appendix

Figure 11-1 | Annual Growth in Real GDP, 2000 - 2018, Compared to 1980 - 2005 Average (percent)

Figure 11-2 | Annual Population Growth, 2003 - 2018 (percent)


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