PRLog - Nov. 28, 2012 - NAVI MUMBAI, India -- Wood & Competitive Decking to 2016
Bharat Book Bureau
US demand to rise 2.4% annually through 2016
US demand for decking is forecast to rise 2.4 percent per year to 3.3 billion lineal feet in 2016, valued at $5.7 billion. This is a rebound from the declines registered between 2006 and 2011, when housing completions plummeted and residential improvement and repair expenditures contracted from their elevated 2006 base. Through 2016, decking demand will be driven by an expected advance in housing completions and continuing consumer interest in decks as a way to increase outdoor space for leisure activities and family gatherings. http://www.bharatbook.com/
Wood-plastic composite, plastic lumber to exhibit double-digit advances
Wood-plastic composite and plastic lumber decking materials are expected to experience double-digit annual gains in demand through 2016. Plastic decking will experience the most rapid growth. Consumers will opt for the material because of its durability and minimal maintenance requirements. Moreover, increasing availability of cellular PVC decking that more closely resembles natural wood will promote advances among residential consumers.
Composite decking demand will be supported by its favorable performance properties and reputation as an environmentally friendly product that utilizes recycled materials. Because wood scraps are a key component, composite decking looks more like wood decking than many plastic lumber varieties, a feature that will aid in demand.
Wood decking will continue to account for the majority of decking demand in volume and value terms. However, demand for wood decking is forecast to rise less than one percent annually to 2.7 billion lineal feet in 2016. Gains will be checked by competition from composite and plastic decking, which promise lower maintenance. Among wood decking (http://www.bharatbook.com) materials, tropical hardwoods will exhibit the fastest growth, as consumers prefer these materials because of their favorable aesthetic and performance characteristics.
Residential market to rebound, post fastest gains
The residential market accounted for 61 percent of decking demand in 2011, a lower share than the historical average. The level of housing completions suppressed demand, as did the unfavorable lending environment that made it more difficult for homeowners to take out home equity loans, a common method of funding such projects as deck installation and replacement. Going forward, decking demand in the residential market is forecast to grow at the fastest pace of all markets. Rebounding housing completions will fuel gains in the new residential segment and less restrictive credit conditions will support residential improvements and repairs. Moreover, many of these decks will be larger in size -- requiring more deck boards -- and will feature such amenities as outdoor kitchens, dining areas, and spas, boosting use of railings, benches, privacy screens, and other accessories.
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