Europe Wooden Decking Market size surpassed USD 4,591 million in 2020 and is estimated to record a CAGR of around 2.7% from 2021 to 2027. Rising consciousness of green buildings and growing energy costs will propel the market demand.
Get more details on this report - Request Free Sample PDF
Wooden decks are used to construct flat surfaces for applications, like extending living areas of houses, garden landscaping, patios, balconies, terraces, and swimming pools, among others. The deck wood is obtainable in a range of colors to enhance the aesthetics of any kind of yard, house, fence, and exteriors. Wooden decking is a common practice in luxury homes for applications like rail around gardens and floor design. Wooden decks offer several benefits, including natural look, strength, durability, easy maintenance, a wide variety of woods, and deck’s affordability. The common types of deck wood utilized in houses include cedar, IPE, pressure-treated, tropical hardwood, and redwood.
Rising per capita income is one of the factors causing a shift in consumer lifestyle and aspiring them for luxury households. High disposable income encourages people to spend on home renovations with modern construction materials and products. Additionally, the added advantages of wooden decks are likely to bolster the demand for deck woods.
Furthermore, the growing adoption of wooden decks by the commercial segment, especially in established economies, such as Germany, U.K., Italy, France, and Switzerland is significantly fueling the demand for wooden decks. Additionally, a surge in commercial construction projects in countries like Italy and Russia is further stimulating the demand. The high adoption rate is attributable to its several advantages, including ease of maintenance, aesthetic look, durability, and strength.
Get more details on this report - Request Free Sample PDF
The pressure-treated wood segment held more than 45% Europe wooden decking market share in 2020 and is set to observe around 2.7% growth rate through 2027. Douglas fir and southern yellow pine are the kind of woods that are commonly used for pressure-treated wooden decking. These woods are majorly used due to their availability and low-cost. These are mostly produced from softwood and obtains resistance to moisture & insects by undergoing a chemical treatment.
Additionally, cedar and redwood are anticipated to showcase promising growth in the coming years. Cedar – a cost-effective material that is utilized in decking is resilient towards weathering, termites, and rots. On the other hand, redwood is a long-lasting material that is most favored for staining or painting, and its ability to prevent easy warping. Even though cedar is relatively cost-effective, redwood is around 32% tougher than cedar. Both decking materials perform efficiently in the residential sector, however, redwood is gaining more traction from luxury homes.
The residential sector dominated over 70% market share in terms of revenue in 2020 owing to the increasing energy costs and rising awareness of green structures to improve energy efficiency. Moreover, the mounting construction activities in developing countries and the high rate of urbanization will further propel the demand for wooden decks. The European construction segment is of strategic value to the region and generates some 9% of the product domestic product (GDP). The growing spending on new construction projects and the rising number of luxury houses are likely to present growth opportunities for the market in the residential sector.
The non-residential sector is projected to register rapid growth during the forecast timespan. The robust growth is underpinned by substantial demand for commercial structures, including restaurants, hotels, resorts, marinas, and offices, among others. The rising rate of urbanization, especially in developing economies is driving the construction of commercial infrastructure, supporting the market expansion. Additionally, the growing preference for green structures and government initiatives to mitigate greenhouse gas production is supposed to further bolster the demand for wooden decks in the coming years.
On the other hand, the European construction industry has sustained heavy damages from the outbreak of the COVID-19 crisis. Many European countries are among the most affected nation in the world and witnessed a severe downfall in economic activities. The wooden decking market experienced a decline of over 11% in 2020 as a result of halted construction operations in several parts of the region. However, government initiatives, such as financial aids are likely to take the regional economy back to its previous course of growth. This, in turn, will create new prospects for the industry participants operating in Europe.
Some of the prominent market players include Koppers Inc., Vetedy Group, Alfresco Floors Ltd., Metsa Group, Thermory AS, JAF International Services Ltd., EasyDeck, Parlato Srl., Iperwood SRL, Top Timber SL, Buyrite Enterprises Ltd., BSW Timber Ltd., and The Millboard Company Ltd.