Asia-pacific Wooden Decking Market 2022-2028
MARKET OUTLOOK
Triton Market Research’s report puts forth that the wooden decking market in the Asia-Pacific would progress with a CAGR of 5.21% through the forecast duration between 2022 and 2028. ASEAN countries, Australia & New Zealand, India, China, South Korea, Japan, and Rest of Asia-Pacific are scrutinized in the market in this region.
A prominent government initiative by the government of India is the Smart Cities Mission, which aims to build over 100 smart cities across the nation. All of these factors are projected to increase the need for wooden decking. The significant efforts by the government to develop the state of housing and infrastructure in the country are expected to drive the wooden decking market.
Australia has one of the leading construction industries in the world, contributing to over 9% of the nation’s total GDP. This has significantly enhanced the adoption of wood decking. Timber flooring and decking are widely preferred in Brisbane.
In New Zealand, the number of housing units is anticipated to increase by 39% by 2023. Several housing development programs, such as Kāinga Ora Homes and Communities, as well as private ventures, are expected to cater to the need for new homes, thereby enhancing the use of wooden decking. The increased adoption will contribute to the wooden decking market’s growth in Australia & New Zealand.
COMPETITIVE OUTLOOK
The notable companies in the wooden decking market are Kebony, Humboldt Sawmill Company LLC, NeoTimber, Deck Solutions LLC, Setra Group AB, UPM-Kymmene Oyj, Vetedy Group, Inovar Floor, Mendocino Forest Products Company LLC, and Thermory AS.
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