The global decking and railing market was valued at $9.79 billion in 2020 and is projected to reach $18.05 billion by 2032, registering a CAGR of 5.8% from 2023 to 2032. Decking and railing complement one another seamlessly to create outdoor areas into comfortable safe spaces. The elevated platform or surface known as decking serves as the basis for outdoor living by bringing indoor comforts into contact with the surrounding environment.
The rise in the number of home remodeling projects globally fuels the growth of the decking and railing market. Many remodeling projects involve updating and upgrading existing decks and railing systems. As decking and railing materials age or become outdated, homeowners may opt to replace them with newer, more durable, and visually appealing options. This leads to increased sales of decking and railing products, as homeowners invest in modernizing and enhancing their outdoor spaces. Moreover, the demand for decking and railing materials will rise as a result of the increase in new home building. There are several uses for decking and railing solutions due to the range of residential developments being conducted. This includes common rooftop decks, balconies, patios, and terraces in addition to classic backyard decks. As a result, a wider range of demands and tastes can be met by the decking and railing sector. For instance, in March 2023, DLF, a reputable real estate development company, will invest $425 million over the following four years in the creation of a new luxury housing project in Gurugram, India, in order to accommodate the growing demand for residential houses. However, the fluctuating cost of raw materials used for manufacturing decking and railing is expected to have a negative impact on market growth.
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. 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).
The rise in the number of home remodeling projects globally fuels the growth of the decking and railing market. Many remodeling projects involve updating and upgrading existing decks and railing systems. As decking and railing materials age or become outdated, homeowners may opt to replace them with newer, more durable, and visually appealing options. This leads to increased sales of decking and railing products, as homeowners invest in modernizing and enhancing their outdoor spaces. Moreover, the demand for decking and railing materials will rise as a result of the increase in new home building. There are several uses for decking and railing solutions due to the range of residential developments being conducted. This includes common rooftop decks, balconies, patios, and terraces in addition to classic backyard decks. As a result, a wider range of demands and tastes can be met by the decking and railing sector. For instance, in March 2023, DLF, a reputable real estate development company, will invest $425 million over the following four years in the creation of a new luxury housing project in Gurugram, India, in order to accommodate the growing demand for residential houses. However, the fluctuating cost of raw materials used for manufacturing decking and railing is expected to have a negative impact on market growth.
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. 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).
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.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.
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Key Market Segments
By Application
- Residential
- Non residential
By Composition
- Solid
- Hollow
By Product Type
- Decking
- Railing
By Material
- Wood
- Wood Type
- Pressure Treated Wood
- Redwood
- Cedar
- Hardwood
- Thermally Modified Wood
- PVC
- Fiber Cement
- Composite
- Type
- Capped
- Uncapped
- Resin Type
- Polypropylene
- Polyethylene
- Other
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Sweden
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- UPM
- Trex Company, Inc.
- GREEN BAY DECKING
- Fortune Brands Innovations, Inc. (Fiberon)
- UFP Industries, Inc.
- Axion Structural Innovations LLC
- Genova Products Inc.
- Shanghai Seven Trust Industry Co., Ltd.
- The AZEK Company Inc. (TimberTech)
- Fortress Building Products, LLC
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: DECKING AND RAILING MARKET, BY COMPOSITION
CHAPTER 5: DECKING AND RAILING MARKET, BY PRODUCT TYPE
CHAPTER 6: DECKING AND RAILING MARKET, BY MATERIAL
CHAPTER 7: DECKING AND RAILING MARKET, BY APPLICATION
CHAPTER 8: DECKING AND RAILING MARKET, BY REGION
CHAPTER 9: COMPETITIVE LANDSCAPE
CHAPTER 10: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to this report, the decking and railing market was valued at $9.8 billion in 2020, and is estimated to reach $18.1 billion by 2032, growing at a CAGR of 5.8% from 2023 to 2032.Decking and railing are integral components of outdoor structures, commonly used in construction and architecture. Decking refers to the flat surface usually made of wood or composite materials, designed to create a functional and aesthetically pleasing outdoor platform for various activities. Railing, on the other hand, acts as a protective barrier surrounding the decking, providing safety and support while adding a decorative element to the overall design.
Key factors driving the growth of the decking and railing market include a rise in the number of residential projects, rise in the number of home remodeling projects and advantages associated with the decks and railings. As more residential projects are developed, there is a higher demand for decking and railing products to construct outdoor spaces in these properties. Every residential structure, whether a single-family home, an apartment, or a townhouse, might require decking and railing installations, increasing market demand overall. For instance, in July 2023, according to the U. S. Census Bureau and the U. S. Department of Housing & Urban Development, the number of homes under construction is expected to reach 1.5 million housing units in 2023. This increase in new residential construction will lead to increased demand for decking and railing materials. The variety of residential projects being undertaken allows for diverse applications of decking and railing solutions. This includes traditional backyard decks and rooftop decks, balconies, patios, and terraces. As a result, the decking and railing market can cater to a broader range of needs and preferences. Furthermore, in March 2023, to meet the high demand for residential homes, DLF, a renowned real estate development business, will invest $425 million over the following four years in its development of a new luxury housing project in Gurugram, India. Hence, the increase in the construction of new residential projects has led to a rise in demand for decking and railing, thereby fueling the growth of the market. Decks and railings provide homeowners with additional living space, both indoors and outdoors. It extends the usable area of a home, providing more room for various activities and increasing the property's functional space. Furthermore, decks and railings significantly enhance the aesthetics of a property by adding an attractive outdoor living space. A well-designed deck, with complementary railings, creates a visually appealing and inviting atmosphere, increasing the overall curb appeal of the home. In addition, railings play a crucial role in providing safety and security for individuals using the deck, especially in elevated or raised configurations. Moreover, together, decks and railings offer a versatile space that can be customized to fit different sizes, styles, and purposes, accommodating various preferences and needs. Hence, the benefits associated with decks and railing drive the growth of the global market.
Advanced building materials offer increased durability, making decks and railings more resistant to weathering, rot, decay, and insect damage. This enhanced longevity reduces maintenance requirements and extends the lifespan of decking and railing products, increasing their appeal to consumers. In addition, composite materials have recently become the most prominent innovative materials utilized in decking and railing. The composite decking & railing is a blend of wood fibers, recycled plastics, and bonding agents. It offers the appearance of natural wood while being highly resistant to rot, insects, and fading. Composite decking is known for its low maintenance requirements and long lifespan. For instance, in June 2023, Trex Company, Inc., which is a leading manufacturer of non-wood decking & railing alternative products launched Trex Select T-Rail. This innovative composite railing system offers exceptional performance, adds an aesthetically pleasing frame to any deck, and maintains its clean appearance with minimum maintenance. Moreover, the aluminum railing & decking provides a lightweight and corrosion-resistant option, suitable for rooftop decks. Furthermore, in August 2022, Digger Specialties Inc., a U. S., based manufacturer of decks & railing introduced DSI’s Westbury Veranda aluminum and glass deck railing. This latest aluminum railing offers a high level of rigidity and resilience while being lightweight and simple to install. Hence, advancements in building materials are anticipated to provide lucrative opportunities for the growth of the decking and railing market during the forecast period.
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).
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).
Key Market Insights
By composition, the solid segment was the highest revenue contributor to the market and is estimated to reach $18.05 billion by 2032. Moreover, the hollow segment is estimated to be the fastest-growing segment with a CAGR of 6.4% during the forecast period.By product type, the decking segment was the highest revenue contributor to the market. However, the railing segment is expected to grow with a CAGR of 6.0% during the forecast period.
Based on material, the wood segment was the highest revenue contributor to the market. However, the composite is expected to grow at a CAGR of 6.8% during the forecast period.
By application, the residential segment was the highest revenue contributor to the market. However, the non-residential segment is expected to grow with a CAGR of 6.2% during the forecast period.
Based on region, North America garnered the largest revenue share in 2020, and the LAMEA is anticipated to grow at the highest CAGR of 6.6% during the forecast period.
Companies Mentioned
- UPM
- Trex Company, Inc.
- GREEN BAY DECKING
- Fortune Brands Innovations, Inc. (Fiberon)
- UFP Industries, Inc.
- Axion Structural Innovations LLC
- Genova Products Inc.
- Shanghai Seven Trust Industry Co., Ltd.
- The AZEK Company Inc. (TimberTech)
- Fortress Building Products, LLC
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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