Through 2018, rebounding residential building construction activity will help drive decking demand, as will continued interest among homeowners in decks as a way of adding leisure space and improving property values.

Plastic and wood-plastic composite materials are forecast to see the fastest gains.

"Consumers will increasingly opt for these products because of their low maintenance requirements and long lifespans," said Freedonia analyst Matt Zielenski.

Demand for plastic decking will rise at a double-digit annual pace through 2018. There is strong consumer interest in cellular PVC decking, which offers a grain and surface texture similar to natural wood.

Demand for composite lumber decking will be boosted by the rising use of capstock-coated decking, with its natural-wood look and better protection against mold growth and premature degradation.

Wood decking will still account for most of the demand in volume and value, but is expected to grow much more slowly than composite and plastic lumber.

The residential market was the largest end use for decking in 2013, accounting for three-fifths of demand. Residential decking demand is expected to advance 2.7% annually through 2018.