Home decking demand is on the rise in many parts of the US. Despite a significant short-term impact from the ongoing COVID-19 pandemic – both in terms of sales and production – the trends discussed in Freedonia’s Wood & Competitive Decking study are expected to hold true over the long term. Here are a few key demand drivers we expect to pick back up once the crisis ends:
Increasing Home Improvement Activity
Many homeowners are showing interest in renovating their homes, including through the installation of a new deck or the renovation of an existing one. There are several good reasons to add a deck to a home, including:
- increasing the value of your home
- expanding available living space
- changing the look of your surroundings
Additionally, the normal wear and tear experienced by decks will necessitate many more renovation projects. The majority of existing decks in the US are constructed from pressure-treated lumber, which while attractive, also require maintenance from homeowners:
- annual cleaning
- periodic resealing or restaining
- the replacement of damaged planks
The upkeep these wooden decks necessitate will be key drivers of decking demand in the coming years.
Growing Interest in Outdoor Living
Rising interest in outdoor living will also spur decking demand. Many homeowners are adopting this trend and adding decks to their homes, which allow them to construct outdoor kitchens, lounging areas, water features, and more. These features can both increase the value of a home and add to its owner’s enjoyment.
Outdoor living is especially appealing to homes located in scenic areas and moderate climates, where a deck can be enjoyed virtually year-round. However, even those living in less meteorologically friendly parts of the country can join in on the fun through the installation of fire pits, or even hot tubs!
Decks Becoming Larger & More Elaborate
Additionally, homeowners are showing interest in larger decks. For one, a deck with more available space helps homeowners to add the outdoor living aspects previously discussed. These larger decks will sometimes use pergolas and walls, which add a level of privacy. Some homeowners will even opt for multi-story or multi-level decks, which provide even more space.
For more information about the US decking market, check out TFG Study #3789, Wood & Competitive Decking.