Latin America Wooden Decking Market 2022-2028
MARKET OUTLOOK
The Latin America wooden decking market is predicted to exhibit growth, with a CAGR of 4.43% over the forecast years from 2022 to 2028, states a report by Triton Market Research. Mexico, Brazil, and Rest of Latin America are considered in the market in this region.
With new projects in the pipeline, the construction sector in Brazil is likely to witness tremendous growth. Also, by 2024, the government intends to serve 1.6 million low-income families via the Casa Verde e Amarela housing program. These developments are expected to enhance the demand for wood decking, and, in turn, foster the market growth in the years to come.
Mexico’s housing industry is supported by government entities, such as CONAVI (National Housing Commission), FOVISSSTE, CFE, and INFONAVIT. In the short- and medium-term, new government programs such as the Programa Nacional de Infraestructura (PNI) are anticipated to encourage the construction of new dwelling units in the country’s major cities.
Additionally, in the residential sector, CONAVI has established the National Appropriate Mitigation Action (NAMA) plan to design energy-efficient homes. These housing developments are not just energy-efficient, but also cost-effective, and are built considering the country’s low-income group. Hence, the growth of the construction industry and the rising number of housing units are expected to boost the wooden decking market in Mexico.
COMPETITIVE OUTLOOK
Top contenders in the wooden decking market include Fiberon, Deck Solutions LLC, Humboldt Sawmill Company LLC, UFP Industries Inc, NeoTimber, Tecnodeck (Mittera Group), Weyerhaeuser Company, Setra Group AB, DuraLife Decking & Railing Systems, and Metsä Group.
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