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Wood & Competitive Decking Market

  • September 2014
  • -
  • Freedonia
  • -
  • 386 pages

US demand to rise 2.4% annually through 2018

US demand for decking is forecast to rise 2.4 percent per year through 2018 to 3.5 billion lineal feet, valued at $6.5 billion. Demand will rebound from the lackluster performance during the 2008-2013 period, when contraction in new housing construction caused a sharp drop in new deck installation and a less favorable lending environment caused homeowners to put off or cancel deck renovation projects. Through 2018, decking demand will be spurred by rebounding residential building construction activity and continuing interest in decks to add leisure space and improve property values.

Plastic, wood-plastic composite materials to see fastest product gains

Among product types, plastic and woodplastic composite materials are forecast to exhibit the fastest gains going forward. Consumers will increasingly opt for these products because of their low maintenance requirements and long lifespans. Plastic lumber demand will rise at a double-digit pace through 2018, fueled by strong consumer interest in cellular PVC decking, which offers a grain and surface texture similar to natural wood. Composite lumber decking demand will be boosted by rising use of capstockcoated decking, which looks like natural wood and provides enhanced protection against mold growth and premature degradation. Wood decking will continue to account for the majority of demand in volume and value terms. However, wood decking demand is forecast to grow much more slowly than that of composite and plastic lumber, rising 1.1 percent annually to 2.8 billion lineal feet in 2018. Demand for wood decking will be supported by the material’s low cost and the large installed base of wood decks, as some consumers will be reluctant to switch materials when renovating decks.

Dominant residential market to benefit from rebound in housing completions

The residential market was the largest end use for decking in 2013 with threefifths of demand. Through 2018, residential decking demand is projected to grow 2.8 percent annually. In the new housing segment, a rapid rebound in housing completions will drive gains. Residential improvement and repair decking demand will be supported by rising home values and a more favorable lending environment that will make it easier for homeowners to take out the home equity loans often used to finance deck installation and renovation projects. Demand will also be supported by design trends that call for houses with larger decks featuring such amenities as outdoor kitchens and firepits, hot tubs, and areas for seating and gathering. These decks will require not only more deck boards, but also such accessories as railings and stairs. Nonresidential decking demand is forecast to rise rapidly, driven by rebounding commercial and lodging construction expenditures. Owners and managers of such facilities as restaurants, hotels, bars, resorts, and other entertainment venues install decks to add space for leisure activities.

Study coverage

Details on these and other findings are contained in the upcoming industry study, Wood & Competitive Decking, that presents historical demand data for 2003, 2008 and 2013 as well as forecasts for 2018 and 2023 by product, market and US region. The study also considers market environment factors, assesses the industry structure, evaluates company market share and profiles major competitors in the US industry.

Table Of Contents

Wood and Competitive Decking Market
TABLE OF CONTENTS
INTRODUCTION xii
I. EXECUTIVE SUMMARY 1
II. MARKET ENVIRONMENT 4
General 4
Macroeconomic Trends 5
Demographic Trends 9
Consumer Trends 14
Consumer Spending 14
Consumer Financing 17
Construction Trends 19
Building Construction 21
Residential Buildings 24
Housing Completions 25
Housing Stock 29
Improvements and Repairs 33
Nonresidential Buildings 35
New 35
Nonresidential Building Stock 38
Improvements and Repairs 40
Nonbuilding Construction 41
Construction Expenditures 41
Nonbuilding Construction Stock 43
Historical Market Trends and Seasonality 45
Pricing 49
Regulatory and Environmental Issues 51
Building Codes 52
Treated Lumber 54
Environmental 57
Foreign Trade 60
III. OVERVIEW 62
General 62
Demand by Volume 63
Demand by Material Type 66
Demand by Function 69
Demand by Value 70
Demand by Material Type 72
Demand by Function 73
Volume and Value Demand Comparison 74
Installed Costs 77
Lifecycle Costs 80
Treated Southern Yellow Pine 83
Redwood 83
Cedar 84
Tropical Hardwoods 85
Wood-Plastic Composite 86
Plastic 86
Competitive Environment 87
IV. PRODUCTS 91
General 91
Wood 92
Demand by Volume and Value 93
Demand by Function 95
Demand by Type 96
Pressure-Treated Wood 98
Product Characteristics 102
Demand by Function 104
Demand by Species 105
Cedar 108
Redwood 110
Tropical Hardwoods and Other 113
Markets 117
Installation Methods 121
Suppliers 123
Wood-Plastic Composite 124
Demand by Volume and Value 125
Demand by Function 127
Demand by Surface Treatment 128
Capstock-Coated Composite Decking 130
Uncoated Composite Decking 131
Product Characteristics 132
Product Development 134
Demand by Material Type 136
Wood-Polyethylene Composites 137
Other Wood-Plastic Composites 139
Markets 141
Installation Methods 144
Market Share 146
Plastic and Other 150
Demand by Volume and Value 151
Demand by Function 153
Demand by Material Type 154
Plastic 155
Vinyl 156
Polyethylene and Other Plastics 165
Market Share 171
Other Decking 174
Metals 175
All Other Materials 176
Markets 176
Installation Methods 179
V. MARKETS 182
General 182
Residential 186
New 189
Wood 191
Composite, Plastic, and Other 192
Improvements and Repairs 193
Wood 196
Composite, Plastic, and Other 197
Housing Types 199
Single-Family 200
Demand by Application 203
Demand by Material 205
Multifamily 206
Demand by Application 207
Demand by Material 208
Manufactured Housing 209
Demand by Application 210
Demand by Material 211
Nonresidential 212
New 214
Improvements and Repairs 217
Nonbuilding Construction 219
New 223
Improvements and Repairs 225
VI. REGIONS 229
General 229
Regional Demographic and Economic Activity 231
Population Patterns 231
Economic Outlook 235
Construction Activity 238
Housing Trends 241
Regional Demand for Decking 244
Northeast 247
New England 251
Middle Atlantic 252
Midwest 253
East North Central 258
West North Central 259
South 260
South Atlantic 264
East South Central 266
West South Central 267
West 269
Mountain 273
Pacific 275
VII. INDUSTRY STRUCTURE 277
General 277
Industry Composition 278
Market Share 280
Wood 280
Composite, Plastic, and Other 281
Product Development 283
Manufacturing 286
Wood 287
Composite, Plastic, and Other 287
Marketing 289
Wood 290
Composite, Plastic, and Other 293
Distribution 295
Mergers, Acquisitions, and Divestitures 299
Cooperative Agreements 301
Company Profiles 306
Advanced Environmental Recycling Technologies
Incorporated 307
AERT, see Advanced Environmental Recycling
Technologies
Alside, see Associated Materials
Arch Wood Protection, see Lonza Group
Associated Materials LLC 310
Atrium Corporation 312
Axiall Corporation 314
AZEK Building Products, see CPG International
Benjamin Moore, see Berkshire Hathaway
Berkshire Hathaway Incorporated 316
BlueLinx Holding Incorporated 318
Boise Cascade Company 319
California Redwood, see Green Diamond Resource
CertainTeed, see Saint-Gobain
Comex Group, see Sherwin-Williams
CPG International LLC 321
Crane Group Company 324
Deceuninck NV 325
Dow Chemical Company 327
Eastman Chemical Company 328
Fiberon LLC 329
Georgia Gulf, see Axiall
Georgia-Pacific, see Koch Industries
Gracious Living Corporation 333
Green Bay Decking LLC 334
Green Diamond Resource Company 335
Hood Companies 337
Hoover Treated Wood Products Incorporated 338
Integrity Composites LLC 340
Inteplast Group Limited 341
International Paper Company 342
Koch Industries Incorporated 344
Koppers Holdings Incorporated 346
LB Plastics Incorporated 347
Lonza Group Limited 349
Mendocino Forest Products Company LLC 350
N.E.W. Plastics Corporation 352
NyloBoard LLC 353
Osmose Holdings Incorporated 354
Ply Gem Holdings Incorporated 355
Potlatch Corporation 356
RENEW Plastics, see N.E.W. Plastics
Rockwood Holdings Incorporated 357
Royal Building Products, see Axiall
Saint-Gobain 359
Sherwin-Williams Company 361
TAMKO Building Products Incorporated 364
Temple-Inland Building Products, see Koch Industries
Thermal Industries, see Atrium
Thompson's, see Sherwin-Williams
Timber Treatment Technologies LLC 366
TimberSIL Products, see Timber Treatment Technologies
TimberTech, see CPG International
Trex Company Incorporated 367
Universal Forest Products Incorporated 369
VEKA AG 373
Viance, see Dow Chemical and Rockwood Holdings
West Fraser Timber Company Limited 375
Westech Building Products, see Westlake Chemical
Westlake Chemical Corporation 376
Weyerhaeuser Company 378
Selected Other Decking Companies 380

LIST OF TABLES

SECTION I -- EXECUTIVE SUMMARY
Summary Table 3
SECTION II -- MARKET ENVIRONMENT
1 Macroeconomic Indicators 9
2 Population and Households 13
3 Personal Consumption Expenditures 16
4 Consumer Financing Environment, 2003-2013 19
5 Construction Expenditures 21
6 Building Construction Expenditures 23
7 Residential Building Construction Expenditures 25
8 Housing Completions 29
9 Housing Stock by Type 32
10 Residential Improvement and Repair Expenditures 34
11 Nonresidential Building Construction Expenditures 37
12 Nonresidential Building Stock 39
13 Nonresidential Building Improvement and Repair Expenditures 41
14 Nonbuilding Construction Expenditures 43
15 Nonbuilding Construction Stock 45
16 Decking Market, 2003-2013 48
17 Decking Prices 51
SECTION III -- OVERVIEW
1 Decking Demand by Material and Function 66
2 Decking Market Value by Material and Function 72
3 Life Cycle Cost Comparison by Decking Material 82
4 Residential Decking Indicators 90
SECTION IV -- PRODUCTS
1 Wood Decking Demand by Function 93
2 Wood Decking Demand by Type 98
3 Pressure-Treated Wood Decking Demand by Function
and Species 101
4 Cedar Decking Demand 110
5 Redwood Decking Demand 112
6 Tropical Hardwood and Other Wood Decking Demand 117
7 Wood Decking Demand by Market and Application 121
8 Wood Decking Demand by Installation Method 123
9 Wood-Plastic Composite Decking Demand by Function 125
10 Wood-Plastic Composite Decking Demand by Surface
Treatment 130
11 Wood-Plastic Composite Decking Demand by Type 137
12 Wood-Polyethylene Decking Demand by Function 139
13 Wood-Plastic Composite Decking Demand by Market
and Application 144
14 Wood-Plastic Composite Decking Demand by Installation
Method 146
15 Plastic and Other Decking Demand by Function 151
16 Plastic and Other Decking Demand by Material Type 155
17 Plastic Decking Demand by Material Type 156
18 Vinyl Decking Demand by Function 159
19 Vinyl Decking Demand by Type 162
20 Polyethylene and Other Plastics Decking Demand by Material
and Function 168
21 Other Decking Materials Demand by Function 175
22 Plastic and Other Decking Demand by Market and Application 179
23 Plastic and Other Decking Demand by Installation Method 181
SECTION V -- MARKETS
1 Decking Demand by Market and Application 185
2 Residential Decking Demand by Application and Material 189
3 New Residential Decking Demand by Material 191
4 Residential Improvement and Repair Decking Demand
by Material 196
5 Residential Decking Demand by Housing Type 200
6 Single-Family Housing Decking Demand by Application
and Material 203
7 Multifamily Housing Decking Demand by Application
and Material 207
8 Manufactured Housing Decking Demand by Application
and Material 210
9 Nonresidential Decking Demand by Application and Material 214
10 New Nonresidential Decking Demand by Material 217
11 Nonresidential Improvement and Repair Decking Demand
by Material 219
12 Nonbuilding Construction Decking Demand by Application
and Material 223
13 New Nonbuilding Construction Decking Demand by Material 225
14 Nonbuilding Construction Improvement and Repair Decking
Demand by Material 228
SECTION VI -- REGIONS
1 Population by Region 235
2 Gross Domestic Product by Region 238
3 Construction Expenditures by Region 241
4 Regional Housing Indicators 244
5 Decking Demand by Region 246
6 Northeast Decking Demand by Subregion and Market 250
7 Midwest Decking Demand by Subregion and Market 258
8 South Decking Demand by Subregion and Market 264
9 West Decking Demand by Subregion and Market 273
SECTION VII -- INDUSTRY STRUCTURE
1 US Composite, Plastic, and Other Decking Sales
by Company, 2013 283
2 Selected Acquisitions and Divestitures 300
3 Selected Cooperative Agreements 303

LIST OF CHARTS

SECTION II -- MARKET ENVIRONMENT
1 Year of Construction of Housing Stock, 2013 32
2 Decking Demand Growth, 2004-2013 49
SECTION III -- OVERVIEW
1 Decking Demand by Material, 2013 76
2 Average Installed Costs for Selected Decking Materials, 2013 80
SECTION IV -- PRODUCTS
1 Wood-Plastic Composite Decking Market Share, 2013 147
2 Plastic Decking Market Share, 2013 172
SECTION V -- MARKETS
1 Decking Demand by Market, 2013 186
SECTION VI -- REGIONS
1 Decking Demand by Region, 2013 247

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