Wood and decking builds marketWood and decking builds market
November 10, 2005
Demand for decking in the U.S. is projected to advance 2.8% annually through 2009 to 5.7 billion board feet, valued at $5.8 billion, according to the latest report published by The Freedonia Group Inc., a Cleveland-based industrial market research firm. The relative stability of the decking market stems from the fact that more than 85% of demand is generated through repair and improvement activity, which is inherently less cyclical that the new construction market.
The U.S. decking market has seen a shift in product mix in recent years, with alternative materials increasingly becoming the product of choice. In 1994, wood accounted for 97% of decking materials'' volume demand, with only minimal use of alternative decking materials. Between 1994 and 2004, the replacement of natural wood materials with alternative materials accelerated significantly, says the study. By 2004, alternative materials in the aggregate had acquired 11% of the five billion board feet decking market, posting double-digit gains in most markets over the span.
Wood-plastic composite decking will provide the strongest growth opportunities, posting 15% annual growth through 2009 to almost 900 million board feet, fueled by its high durability and low maintenance requirements, as well as by product advances that provide a more realistic wood appearance.-Clare Goldsberry; [email protected]
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