Decking And Railing Market Research: 2032
The Global Decking and Railing Market Size was $9.8 billion in 2020, and is projected to reach $18.1 billion by 2032, growing at a CAGR of 5.8% from 2023 to 2032. Decking and railing are two essential elements of outdoor living spaces that together improve their usability, safety, and aesthetic appeal. A surface or platform built above the ground is referred to as decking, and it is often made of a variety of materials, including wood, composite, PVC, or other synthetics. On the other hand, the railing is a security barrier put in place around the edge of the deck, balcony, stairway, or elevated areas.
Market Dynamics
The decking and railing market is primarily driven by various factors such as a rise in the number of residential projects, a rise in the number of home remodeling projects, and several benefits associated with decks and railings. There can be a need for decking and railing installations in every residential building, whether it be a single-family house, an apartment, or a townhouse. In July 2023, the U.S. Census Bureau and the U.S. Department of Housing & Urban Development anticipate a significant increase in housing construction, estimating around 1.5 million units under development.
This surge will undoubtedly create a greater demand for decking and railing materials across various residential projects. These materials are versatile enough to be utilized in diverse settings such as rooftop decks, balconies, patios, terraces, and traditional backyard decks. As a result, the decking and railing sector can cater to a wider range of preferences and requirements. In March 2023, DLF, a reputable real estate development company, plans to invest $425 million over the next four years in creating a luxurious housing project in Gurugram, India. This investment aims to meet the increasing demand for residential houses. As more residential projects are constructed to accommodate this demand, the market for decking and railing experiences significant growth.
Homeowners who install decks and railings are provided with additional indoor and outdoor living space. These additions not only expand a home's functional area but also enhance its overall appearance by creating an appealing outdoor living environment. A well-designed deck, complete with complementary rails, creates a welcoming atmosphere and enhances the curb appeal of a home. Moreover, rails play a crucial role in ensuring the safety and security of those who use the elevated or raised deck layouts. In addition to that, decks and railings offer versatile spaces that can be customized to suit various sizes, designs, and purposes.
They accommodate diverse preferences and cater to different needs seamlessly. However, market growth may be restrained due to the use of high-cost materials and structural limitations in harsh weather conditions. Moreover, fluctuations in raw material prices can significantly impact the sales of decking and railings, thereby affecting the profitability of manufacturing companies involved in their production.
In addition, modern building materials have significantly increased the lifespan of decks and railings, making them highly resistant to rot, decay, and insect damage. This enhanced durability not only extends the longevity of decking and railing products but also reduces the amount of maintenance required, thereby enhancing their appeal to consumers. In addition, the decking and railing market growth is due to increasing demand for outdoor living spaces and advancements in sustainable building materials Composite material is currently at the forefront of decking and railing innovation.
It is created using a combination of recycled plastic, wood fibers, and bonding chemicals. Moreover, the decking and railing Market forecast indicates positive growth driven by innovative materials and a rising focus on outdoor aesthetics. Even though composite decking possesses exceptional resistance to rot, insects, and fading, it maintains the appearance of authentic wood. Its reputation for low maintenance requirements and remarkable durability have gained widespread recognition.
For instance, in June 2023, Trex Company, Inc., a trailblazer in non-wood decking and railing alternatives, introduced an innovative composite railing system called Trex Select T-Rail. This groundbreaking addition not only enhances the aesthetic appeal of any deck but also delivers outstanding performance while requiring minimal upkeep to preserve its pristine look.
The decking and railing industry has faced significant challenges in its operations due to the COVID-19 pandemic and inflation. Initially, the lockdown resulted in a complete halt of residential construction work, leading to a decrease in demand for decking and railing products. However, as the impacts of COVID-19 have subsided, major manufacturers are now experiencing positive performance in 2023. Contrarily, the rising global inflation, is a new major obstructing factor for the entire industry.
The inflation, which is a direct result of the Ukraine-Russia war, and few long-term impacts of the coronavirus pandemic, has introduced volatility in the prices of raw materials used for decking and railings. In addition to this, the cost of oil & gas has also increased substantially, and many countries; especially, the countries in Europe, Latin America, and developing economies in Asia-Pacific are experiencing severe negative impacts on industrial production, including the production of various raw materials. However, India and China are performing relatively well. In addition, inflation is expected to worsen in the coming years, as the possibility of the ending of the war between Ukraine and Russia is less. However, with the continued talks between different countries, a peace agreement between Ukraine and Russia can be devised.
Segmental Overview
The decking and railing market is segmented on the basis of composition, product type, material, application, and region. By composition, the market is bifurcated into solid and hollow. Furthermore, the product type segment is further categorized into Decking and Railing. Depending on the material, the market is categorized into wood, PVC, fiber cement, composite, and others. By applictaion, the market is bifurcated into residential and non-residential. Region-wise, it is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, Sweden, UK, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
By Composition:
The decking and railing market is bifurcated into solid and hollow. In 2020, the solid segment dominated the decking and railing market, in terms of revenue. The segment that is anticipated to experience significant growth with a higher CAGR during the forecast period is the hollow segment. Additionally, solid decking and railing are renowned for their remarkable durability. They have the ability to withstand harsh weather conditions, UV exposure, and heavy foot traffic without warping or splintering. This exceptional durability ensures a long lifespan and minimizes the necessity for frequent repairs or replacements, making them an economically sound investment.
By Product Type:
The decking and railing market is categorized into two segments: decking and railing. In 2020, the revenue of the decking segment surpassed that of railing, establishing its dominance. However, it is projected that the railing segment will experience higher CAGR during the forecast period. Furthermore, advanced materials like composite and PVC have been specially designed to withstand various outdoor elements such as rain, sun exposure, and temperature fluctuations. They offer resistance against rot, insects, and warping, ensuring long-lasting durability with minimal maintenance requirements.
By Material:
The market for railings and decking is divided into different materials, including wood, PVC, fiber cement, composite, and others. In 2020, the wood segment had a higher market share. However, it is expected that composite materials will experience significant growth with a higher CAGR during the forecast period. Wood offers versatility as a material that can be easily customized to meet various design preferences. Homeowners have the option to select from different wood species, finishes, and profiles to create a personalized and unique outdoor space.
Additionally, the ability to stain or paint wood provides flexibility in achieving desired colors and appearances. Moreover, composite materials have significantly expanded their presence in the decking and railing market share, driven by their durability and low maintenance properties.
By Application:
The market for railing and decking categorized into residential and non-residential segments. In 2020, the residential sector was dominant in terms of revenue. However, it is projected that the non-residential segment will experience higher CAGR during the forecast period. Homeowners, particularly those in the residential sector, have shown an increasing interest in creating attractive and practical outdoor living spaces. Decking and railing are essential components in extending indoor areas to the outdoors, providing homeowners with dedicated spaces for relaxation, entertainment, and socializing. As the demand for outdoor living spaces continues to rise, so does the need for innovative decking and railing solutions.
By Region:
North America held the highest market share in 2020, while it is expected that LAMEA will experience higher growth with a significant CAGR during the projected period. North America boasts diverse climate conditions, ranging from hot and humid summers to cold and snowy winters. Hence, there is a strong demand for decking and railing materials built to withstand these varying weather patterns. Materials like composite, PVC, and certain hardwoods offer excellent resistance to weathering, ensuring durability and minimal maintenance in different regions.
Competition Analysis
Competitive analysis and profiles of the major players in the decking and railing market are provided in the report. Major companies in the report include Fortress Building Products, LLC, Trex Company, Inc., GREEN BAY DECKING, UPM, Fortune Brands Innovations, Inc. (Fiberon), UFP Industries, Inc., Axion Structural Innovations LLC, Genova Products Inc., Shanghai Seven Trust Industry Co., Ltd., and The AZEK Company Inc. (TimberTech). Major players to remain competitive adopt development strategies such as product launch and partnerships.
For instance, in September 2022, an agreement between Fortress Building Products and International Wood Products, LLC (IWP), has been finalized. IWP, an independent distributor of construction materials, will add railing and decking goods to its current line-up of Fortress products.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the decking and railing market analysis from 2020 to 2032 to identify the prevailing decking and railing market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the decking and railing market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global decking and railing market trends, key players, market segments, application areas, and market growth strategies.
Decking And Railing Market Report Highlights
| Aspects | Details |
 Market Size By 2032 | USD 18.1 billion |
 Growth Rate | CAGR of 5.8% |
 Forecast period | 2020 - 2032 |
 Report Pages | 450 |
 By Application |
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 By Composition |
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 By Product Type |
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 By Material |
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 By Region |
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 Key Market Players | Fortune Brands Innovations, Inc. (Fiberon), Genova Products Inc., UFP Industries, Inc., Fortress Building Products, LLC, Shanghai Seven Trust Industry Co., Ltd., Trex Company, Inc., The AZEK Company Inc. (TimberTech), UPM, Axion Structural Innovations LLC, GREEN BAY DECKING |
Analyst Review
The need for beautification of buildings and advancements in materials is the major driving factor of the global decking and railing market. The spending capacity of people on luxury is rising and this leads to the installation of decking and railing on the outdoors of residential properties such as houses, villas, and penthouses as well as commercial properties such as hotels, resorts, and others. Moreover, advancement in material leads to an increase in its strength, durability, and long life.
However, decking and railing cannot withstand harsh weather such as continuous high heat and storms. This factor leads to the use of other alternatives such as concrete decks and steel railings, which hampers the growth of the decking and railing market. On the contrary, rapid urbanization in emerging countries led to an increase in the construction of residential and commercial properties and is expected to create opportunities for growth of the decking and railing market during the forecast period.
Major companies in the market have adopted strategies, such as product launches and agreements, to offer better services to customers in the decking and railing market.
The Decking and Railing Market size was valued at $10,450.9 million in 2022.
Based on the product type, the decking holds the maximum market share of the Decking and Railing Market in 2022.
The Decking and Railing Market is projected to reach $18,051.9 million by 2032.
The rise in the number of residential projects and the Rise in the number of home remodeling projects are the key trends in the Decking and Railing Market.
The product launches and expansions are key growth strategies of the Decking and Railing industry players.
The company profile has been selected on factors such as geographical presence, market dominance (in terms of revenue and volume sales), various strategies and recent developments.
The High cost of the materials is the effecting factor for Decking and Railing Market.
The latest version of Decking and Railing Market report can be obtained on demand from the website.
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