Decking materials are used for various applications, such as flooring, railing, and walls, in distinct styles and configurations, including horizontal, vertical, and diagonal installations. Decking offers a versatile, durable, and visually appealing solution for various applications in both residential and commercial settings. It is designed to withstand outdoor environments, making it durable and suitable for outdoor settings. Moreover, integrating lighting fixtures, shelving, or other architectural elements into the decking design can further enhance functionality and visual appeal. The demand for decking in the US is driven by growing investment in housing projects, rising remodeling and repair expenditures, and rising preference for outdoor living spaces, thereby contributing notably to the US decking market growth.
Expansion in the housing market and rising demand for low-maintenance decking are among the major market drivers. As the housing market experiences growth, propelled by factors such as population increase, urbanization trends, and favorable economic conditions, the demand for decking materials rises in tandem. Newly constructed homes often feature outdoor living spaces as integral components of modern residential designs, with decks serving as focal points for leisure, entertainment, and relaxation. Likewise, renovation projects frequently include the addition or enhancement of outdoor areas, further fueling the demand for decking materials. The expansion in the housing market fosters innovation within the US decking market, prompting companies to develop new materials, designs, and technologies to meet evolving consumer preferences.
The rising demand for low-maintenance decking solutions is fundamentally reshaping the landscape of the US decking market. With an increasing emphasis on convenience, durability, and sustainability, homeowners are gravitating toward decking materials that offer long-term benefits with minimal upkeep. This shift in consumer preferences is fueled by several factors. Additionally, the desire for outdoor spaces that retain their aesthetics and structural integrity over time has led homeowners to seek out durable alternatives such as composite and PVC decking, which are resistant to rotting, warping, and insect damage. In February 2024, MoistureShield launched InstaDeck, an outdoor flooring system comprised of heavy-duty plastic tiles that easily snap together to create a foundation for a freestanding, ground-level deck. The growing awareness of environmental concerns has propelled the adoption of low-maintenance decking materials made from recycled plastics and other sustainable resources, aligning with eco-conscious consumer values.
Fluctuations in raw material prices can act as a deterrent for the market. The decking industry relies heavily on raw materials such as wood, composite resins, and plastics, the prices of which can be subject to volatility due to factors including market demand, supply chain disruptions, and global economic conditions. For instance, after reaching unprecedented highs in 2021, lumber prices have been steadily declining since then. As of February 2024, prices are approximately 37% lower compared to their peak 2 years ago. These fluctuations in material costs often translate into higher production expenses for manufacturers, leading to increased pricing pressures and reduced profit margins. Therefore, fluctuations in the material costs of decking pose a challenge to the US decking market growth.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 8.84 Billion |
| Market Size by 2030 | US$ 11.96 Billion |
| Global CAGR (2022 - 2030) | 3.8% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2030 |
| Segments Covered |
By Material
|
| Regions and Countries Covered | United State
|
| Market leaders and key company profiles |
The List of Companies - US Decking Market