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PUBLISHER: Polaris Market Research | PRODUCT CODE: 1421791
PUBLISHER: Polaris Market Research | PRODUCT CODE: 1421791
Teak Decking Market Share, Size, Trends, Industry Analysis Report, Grade (First European Quality, Middle East Quality, and Free Along Side); By Application; By Region; Segment Forecast, 2023 - 2032
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The global teak decking market size is expected to reach USD 1323.81 million by 2032, according to a new study by Polaris Market Research. The report "Teak Decking Market Share, Size, Trends, Industry Analysis Report, By Grade (First European Quality, Middle East Quality, and Free Along Side); By Application; By Region; Segment Forecast, 2023 - 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
Increasing demand for teak decking from the hospitality and tourism sectors because of its numerous superior properties such as durability & longevity, high strength, non-slip properties, sustainable sourcing, and low aesthetic appeal, among others that attract people, are major factors propelling the market growth. Besides this, growing economic prosperity and increasing disposable income levels of consumers, especially in emerging economies, further contribute to the demand for premium and luxury products, including teak decking; thereby, manufacturers are increasingly introducing new products into their offerings with improved performance and characteristics.
For instance, in November 2022, Synteak Group introduced its new decking evolution for yachts and superyachts named "EcoDeck". The newly introduced product range is stronger, durable, and aesthetically perfect with very few design constraints and offers an elegant surface that helps enhance the boat's magnificence.
Some of the leading market companies worldwide have started focusing on bringing innovations into the market, such as offering prefabricated teak decking panels, which can simplify the installation process and ensure a consistent, high-quality finish and often feature advanced joining systems for seamless integration, which in turn, generating huge growth avenues for the market over the years.
With the constant increase in the demand for synthetic teak decking materials all over the world due to their low maintenance and eco-friendly properties, manufacturers are focusing on exploring innovations and marketing these alternatives in order to cater to customers looking for the aesthetics of teak without needing maintenances, the market for teak decking likely to increase substantially in the near future.
The rising emphasis on sustainability and responsible sourcing of materials around the world is creating an enormous opportunity for businesses to increase their focus on obtaining teak from certified, responsibly managed forests or plantations, which could become a strong selling point for environmentally conscious consumers and among consumers who are aware of the impact of deforestation and non-environment friendly sourcing practices for such products.
Teak Decking Market Report Highlights
The first European quality segment held the largest share, owing to its growing use in various residential & commercial properties.
The marine segment will grow at a rapid pace due to an increasing number of people preferring marine tourism and recreational leisure activities worldwide.
North America dominated the global market with a considerable share on account of the region's higher spending capacity and awareness about the benefits of teak decking.
The key market players include ETT Fine Woods, Global Teak Inc., Metsa Group, Teak Decking Systems, West Fraser Timber Co., Friends Timber, and Accord Floors.
Polaris Market Research has segmented the teak cecking market report based on grade, application, and region:
Teak Decking, Grade Outlook (Revenue - USD Million, 2023 - 2032)
- First European Quality
- Middle East Quality
- Free Along Side
Teak Decking, Application Outlook (Revenue - USD Million, 2023 - 2032)
- Marine
- Hospitality & Tourism
- Building & Construction
- Others
Teak Decking, Regional Outlook (Revenue - USD Million, 2023 - 2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Latin America
- Argentina
- Brazil
- Mexico
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
Product Code: PM4112
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
- 2.1. Market Highlights
3. Research Methodology
- 3.1. Overview
- 3.1.1. Data Mining
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Teak Decking Market Insights
- 4.1. Teak Decking Market - Industry Snapshot
- 4.2. Teak Decking Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Surging demand for high-quality and durable materials for decking purpose driving the market growth
- 4.2.1.2. Growing focus on bringing innovations and advancements
- 4.2.2. Restraints and Challenges
- 4.2.2.1. The regular maintenance required for teak decking may impede market growth
- 4.2.1. Drivers and Opportunities
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTLE Analysis
- 4.5. Teak Decking Industry trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Teak Decking Market, by Grade
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Teak Decking, by Grade, 2019-2032 (USD Million)
- 5.3. First European Quality
- 5.3.1. Global Teak Decking Market, by First European Quality, by Region, 2019-2032 (USD Million)
- 5.4. Middle East Quality
- 5.4.1. Global Teak Decking Market, by Middle East Quality, by Region, 2019-2032 (USD Million)
- 5.5. Free Along Side
- 5.5.1. Global Teak Decking Market, by Free Along Side, by Region, 2019-2032 (USD Million)
6. Global Teak Decking Market, by Application
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Teak Decking Market, by Application, 2019-2032 (USD Million)
- 6.3. Marine
- 6.3.1. Global Teak Decking Market, by Marine, by Region, 2019-2032 (USD Million)
- 6.4. Hospitality and Tourism
- 6.4.1. Global Teak Decking Market, by Hospitality and Tourism, by Region, 2019-2032 (USD Million)
- 6.5. Building & Construction
- 6.5.1. Global Teak Decking Market, by Building & Construction, by Region, 2019-2032 (USD Million)
- 6.6. Others
- 6.6.1. Global Teak Decking Market, by Others, by Region, 2019-2032 (USD Million)
7. Global Teak Decking Market, by Geography
- 7.1. Key findings
- 7.2. Introduction
- 7.2.1. Teak Decking Market Assessment, By Geography, 2019-2032 (USD Million)
- 7.3. Teak Decking Market - North America
- 7.3.1. North America: Teak Decking Market, by Application, 2019-2032 (USD Million)
- 7.3.2. North America: Teak Decking Market, by Grade, 2019-2032 (USD Million)
- 7.3.3. Teak Decking Market - U.S.
- 7.3.3.1. U.S.: Teak Decking Market, by Application, 2019-2032 (USD Million)
- 7.3.3.2. U.S.: Teak Decking Market, by Grade, 2019-2032 (USD Million)
- 7.3.4. Teak Decking Market - Canada
- 7.3.4.1. Canada: Teak Decking Market, by Application, 2019-2032 (USD Million)
- 7.3.4.2. Canada: Teak Decking Market, by Grade, 2019-2032 (USD Million)
- 7.4. Teak Decking Market - Europe
- 7.4.1. Europe: Teak Decking Market, by Application, 2019-2032 (USD Million)
- 7.4.2. Europe: Teak Decking Market, by Grade, 2019-2032 (USD Million)
- 7.4.3. Teak Decking Market - UK
- 7.4.3.1. UK: Teak Decking Market, by Application, 2019-2032 (USD Million)
- 7.4.3.2. UK: Teak Decking Market, by Grade, 2019-2032 (USD Million)
- 7.4.4. Teak Decking Market - France
- 7.4.4.1. France: Teak Decking Market, by Application, 2019-2032 (USD Million)
- 7.4.4.2. France: Teak Decking Market, by Grade, 2019-2032 (USD Million)
- 7.4.5. Teak Decking Market - Germany
- 7.4.5.1. Germany: Teak Decking Market, by Application, 2019-2032 (USD Million)
- 7.4.5.2. Germany: Teak Decking Market, by Grade, 2019-2032 (USD Million)
- 7.4.6. Teak Decking Market - Italy
- 7.4.6.1. Italy: Teak Decking Market, by Application, 2019-2032 (USD Million)
- 7.4.6.2. Italy: Teak Decking Market, by Grade, 2019-2032 (USD Million)
- 7.4.7. Teak Decking Market - Spain
- 7.4.7.1. Spain: Teak Decking Market, by Application, 2019-2032 (USD Million)
- 7.4.7.2. Spain: Teak Decking Market, by Grade, 2019-2032 (USD Million)
- 7.4.8. Teak Decking Market - Netherlands
- 7.4.8.1. Netherlands: Teak Decking Market, by Application, 2019-2032 (USD Million)
- 7.4.8.2. Netherlands: Teak Decking Market, by Grade, 2019-2032 (USD Million)
- 7.4.9. Teak Decking Market - Russia
- 7.4.9.1. Russia: Teak Decking Market, by Application, 2019-2032 (USD Million)
- 7.4.9.2. Russia: Teak Decking Market, by Grade, 2019-2032 (USD Million)
- 7.5. Teak Decking Market - Asia Pacific
- 7.5.1. Asia Pacific: Teak Decking Market, by Application, 2019-2032 (USD Million)
- 7.5.2. Asia Pacific: Teak Decking Market, by Grade, 2019-2032 (USD Million)
- 7.5.3. Teak Decking Market - China
- 7.5.3.1. China: Teak Decking Market, by Application, 2019-2032 (USD Million)
- 7.5.3.2. China: Teak Decking Market, by Grade, 2019-2032 (USD Million)
- 7.5.4. Teak Decking Market - India
- 7.5.4.1. India: Teak Decking Market, by Application, 2019-2032 (USD Million)
- 7.5.4.2. India: Teak Decking Market, by Grade, 2019-2032 (USD Million)
- 7.5.5. Teak Decking Market - Malaysia
- 7.5.5.1. Malaysia: Teak Decking Market, by Application, 2019-2032 (USD Million)
- 7.5.5.2. Malaysia: Teak Decking Market, by Grade, 2019-2032 (USD Million)
- 7.5.6. Teak Decking Market - Japan
- 7.5.6.1. Japan: Teak Decking Market, by Application, 2019-2032 (USD Million)
- 7.5.6.2. Japan: Teak Decking Market, by Grade, 2019-2032 (USD Million)
- 7.5.7. Teak Decking Market - Indonesia
- 7.5.7.1. Indonesia: Teak Decking Market, by Application, 2019-2032 (USD Million)
- 7.5.7.2. Indonesia: Teak Decking Market, by Grade, 2019-2032 (USD Million)
- 7.5.8. Teak Decking Market - South Korea
- 7.5.8.1. South Korea: Teak Decking Market, by Application, 2019-2032 (USD Million)
- 7.5.8.2. South Korea: Teak Decking Market, by Grade, 2019-2032 (USD Million)
- 7.6. Teak Decking Market - Middle East & Africa
- 7.6.1. Middle East & Africa: Teak Decking Market, by Application, 2019-2032 (USD Million)
- 7.6.2. Middle East & Africa: Teak Decking Market, by Grade, 2019-2032 (USD Million)
- 7.6.3. Teak Decking Market - Saudi Arabia
- 7.6.3.1. Saudi Arabia: Teak Decking Market, by Application, 2019-2032 (USD Million)
- 7.6.3.2. Saudi Arabia: Teak Decking Market, by Grade, 2019-2032 (USD Million)
- 7.6.4. Teak Decking Market - UAE
- 7.6.4.1. UAE: Teak Decking Market, by Application, 2019-2032 (USD Million)
- 7.6.4.2. UAE: Teak Decking Market, by Grade, 2019-2032 (USD Million)
- 7.6.5. Teak Decking Market - Israel
- 7.6.5.1. Israel: Teak Decking Market, by Application, 2019-2032 (USD Million)
- 7.6.5.2. Israel: Teak Decking Market, by Grade, 2019-2032 (USD Million)
- 7.6.6. Teak Decking Market - South Africa
- 7.6.6.1. South Africa: Teak Decking Market, by Application, 2019-2032 (USD Million)
- 7.6.6.2. South Africa: Teak Decking Market, by Grade, 2019-2032 (USD Million)
- 7.7. Teak Decking Market - Latin America
- 7.7.1. Latin America: Teak Decking Market, by Application, 2019-2032 (USD Million)
- 7.7.2. Latin America: Teak Decking Market, by Grade, 2019-2032 (USD Million)
- 7.7.3. Teak Decking Market - Mexico
- 7.7.3.1. Mexico: Teak Decking Market, by Application, 2019-2032 (USD Million)
- 7.7.3.2. Mexico: Teak Decking Market, by Grade, 2019-2032 (USD Million)
- 7.7.4. Teak Decking Market - Brazil
- 7.7.4.1. Brazil: Teak Decking Market, by Application, 2019-2032 (USD Million)
- 7.7.4.2. Brazil: Teak Decking Market, by Grade, 2019-2032 (USD Million)
- 7.7.5. Teak Decking Market - Argentina
- 7.7.5.1. Argentina: Teak Decking Market, by Application, 2019-2032 (USD Million)
- 7.7.5.2. Argentina: Teak Decking Market, by Grade, 2019-2032 (USD Million)
8. Competitive Landscape
- 8.1. Expansion and Acquisition Analysis
- 8.1.1. Expansion
- 8.1.2. Acquisitions
- 8.2. Partnerships/Collaborations/Agreements/Exhibitions
9. Company Profiles
- 9.1. Accord Floors
- 9.1.1. Company Overview
- 9.1.2. Financial Performance
- 9.1.3. Product Benchmarking
- 9.1.4. Recent Development
- 9.2. Advantage Lumber LLC
- 9.2.1. Company Overview
- 9.2.2. Financial Performance
- 9.2.3. Product Benchmarking
- 9.2.4. Recent Development
- 9.3. Balaji Timber and Plywood Pvt. Ltd.
- 9.3.1. Company Overview
- 9.3.2. Financial Performance
- 9.3.3. Product Benchmarking
- 9.3.4. Recent Development
- 9.4. COMILEGNO SRL
- 9.4.1. Company Overview
- 9.4.2. Financial Performance
- 9.4.3. Product Benchmarking
- 9.4.4. Recent Development
- 9.5. ETT Fine Woods
- 9.5.1. Company Overview
- 9.5.2. Financial Performance
- 9.5.3. Product Benchmarking
- 9.5.4. Recent Development
- 9.6. Friends Timber
- 9.6.1. Company Overview
- 9.6.2. Financial Performance
- 9.6.3. Product Benchmarking
- 9.6.4. Recent Development
- 9.7. GGI Myanmar
- 9.7.1. Company Overview
- 9.7.2. Financial Performance
- 9.7.3. Product Benchmarking
- 9.7.4. Recent Development
- 9.8. Global Teak Inc.
- 9.8.1. Company Overview
- 9.8.2. Financial Performance
- 9.8.3. Product Benchmarking
- 9.8.4. Recent Development
- 9.9. Metsa Group
- 9.9.1. Company Overview
- 9.9.2. Financial Performance
- 9.9.3. Product Benchmarking
- 9.9.4. Recent Development
- 9.10. Mys-Teak Holdings Inc.
- 9.10.1. Company Overview
- 9.10.2. Financial Performance
- 9.10.3. Product Benchmarking
- 9.10.4. Recent Development
- 9.11. Starwood Veneers Pvt. Ltd.
- 9.11.1. Company Overview
- 9.11.2. Financial Performance
- 9.11.3. Product Benchmarking
- 9.11.4. Recent Development
- 9.12. Tank Group
- 9.12.1. Company Overview
- 9.12.2. Financial Performance
- 9.12.3. Product Benchmarking
- 9.12.4. Recent Development
- 9.13. Teak Resources Co.
- 9.13.1. Company Overview
- 9.13.2. Financial Performance
- 9.13.3. Product Benchmarking
- 9.13.4. Recent Development
- 9.14. Teakdecking Systems
- 9.14.1. Company Overview
- 9.14.2. Financial Performance
- 9.14.3. Product Benchmarking
- 9.14.4. Recent Development
- 9.15. West Fraser Timber Co. Ltd.
- 9.15.1. Company Overview
- 9.15.2. Financial Performance
- 9.15.3. Product Benchmarking
- 9.15.4. Recent Development
Product Code: PM4112
List of Tables
- Table 1 Global Teak Decking Market, by Application, 2019-2032 (USD Million)
- Table 2 Global Teak Decking Market, by Grade, 2019-2032 (USD Million)
- Table 3 Teak Decking Market Assessment, By Geography, 2019-2032 (USD Million)
- Table 4 North America: Teak Decking Market, by Application, 2019-2032 (USD Million)
- Table 5 North America: Teak Decking Market, by Grade, 2019-2032 (USD Million)
- Table 6 U.S.: Teak Decking Market, by Application, 2019-2032 (USD Million)
- Table 7 U.S.: Teak Decking Market, by Grade, 2019-2032 (USD Million)
- Table 8 Canada: Teak Decking Market, by Application, 2019-2032 (USD Million)
- Table 9 Canada: Teak Decking Market, by Grade, 2019-2032 (USD Million)
- Table 10 Europe: Teak Decking Market, by Application, 2019-2032 (USD Million)
- Table 11 Europe: Teak Decking Market, by Grade, 2019-2032 (USD Million)
- Table 12 UK: Teak Decking Market, by Application, 2019-2032 (USD Million)
- Table 13 UK: Teak Decking Market, by Grade, 2019-2032 (USD Million)
- Table 14 France: Teak Decking Market, by Application, 2019-2032 (USD Million)
- Table 15 France: Teak Decking Market, by Grade, 2019-2032 (USD Million)
- Table 16 Germany: Teak Decking Market, by Application, 2019-2032 (USD Million)
- Table 17 Germany: Teak Decking Market, by Grade, 2019-2032 (USD Million)
- Table 18 Italy: Teak Decking Market, by Application, 2019-2032 (USD Million)
- Table 19 Italy: Teak Decking Market, by Grade, 2019-2032 (USD Million)
- Table 20 Spain: Teak Decking Market, by Application, 2019-2032 (USD Million)
- Table 21 Spain: Teak Decking Market, by Grade, 2019-2032 (USD Million)
- Table 22 Netherlands: Teak Decking Market, by Application, 2019-2032 (USD Million)
- Table 23 Netherlands: Teak Decking Market, by Grade, 2019-2032 (USD Million)
- Table 24 Russia: Teak Decking Market, by Application, 2019-2032 (USD Million)
- Table 25 Russia: Teak Decking Market, by Grade, 2019-2032 (USD Million)
- Table 26 Asia Pacific: Teak Decking Market, by Application, 2019-2032 (USD Million)
- Table 27 Asia Pacific: Teak Decking Market, by Grade, 2019-2032 (USD Million)
- Table 28 China: Teak Decking Market, by Application, 2019-2032 (USD Million)
- Table 29 China: Teak Decking Market, by Grade, 2019-2032 (USD Million)
- Table 30 India: Teak Decking Market, by Application, 2019-2032 (USD Million)
- Table 31 India: Teak Decking Market, by Grade, 2019-2032 (USD Million)
- Table 32 Malaysia: Teak Decking Market, by Application, 2019-2032 (USD Million)
- Table 33 Malaysia: Teak Decking Market, by Grade, 2019-2032 (USD Million)
- Table 34 Japan: Teak Decking Market, by Application, 2019-2032 (USD Million)
- Table 35 Japan: Teak Decking Market, by Grade, 2019-2032 (USD Million)
- Table 36 Indonesia: Teak Decking Market, by Application, 2019-2032 (USD Million)
- Table 37 Indonesia: Teak Decking Market, by Grade, 2019-2032 (USD Million)
- Table 38 South Korea: Teak Decking Market, by Application, 2019-2032 (USD Million)
- Table 39 South Korea: Teak Decking Market, by Grade, 2019-2032 (USD Million)
- Table 40 Middle East & Africa: Teak Decking Market, by Application, 2019-2032 (USD Million)
- Table 41 Middle East & Africa: Teak Decking Market, by Grade, 2019-2032 (USD Million)
- Table 42 Saudi Arabia: Teak Decking Market, by Application, 2019-2032 (USD Million)
- Table 43 Saudi Arabia: Teak Decking Market, by Grade, 2019-2032 (USD Million)
- Table 44 UAE: Teak Decking Market, by Application, 2019-2032 (USD Million)
- Table 45 UAE: Teak Decking Market, by Grade, 2019-2032 (USD Million)
- Table 46 Israel: Teak Decking Market, by Application, 2019-2032 (USD Million)
- Table 47 Israel: Teak Decking Market, by Grade, 2019-2032 (USD Million)
- Table 48 South Africa: Teak Decking Market, by Application, 2019-2032 (USD Million)
- Table 49 South Africa: Teak Decking Market, by Grade, 2019-2032 (USD Million)
- Table 50 Latin America: Teak Decking Market, by Application, 2019-2032 (USD Million)
- Table 51 Latin America: Teak Decking Market, by Grade, 2019-2032 (USD Million)
- Table 52 Mexico: Teak Decking Market, by Application, 2019-2032 (USD Million)
- Table 53 Mexico: Teak Decking Market, by Grade, 2019-2032 (USD Million)
- Table 54 Brazil: Teak Decking Market, by Application, 2019-2032 (USD Million)
- Table 55 Brazil: Teak Decking Market, by Grade, 2019-2032 (USD Million)
- Table 56 Argentina: Teak Decking Market, by Application, 2019-2032 (USD Million)
- Table 57 Argentina: Teak Decking Market, by Grade, 2019-2032 (USD Million)
List of Figures
- Figure 1 Global Teak Decking Market, 2019-2032 (USD Million)
- Figure 2 Integrated Ecosystem
- Figure 3 Research Methodology: Top-Down & Bottom-Up Approach
- Figure 4 Market by Geography
- Figure 5 Porter's Five Forces
- Figure 6 Market by Application
- Figure 7 Global Teak Decking Market, by Application, 2022 & 2032 (USD Million)
- Figure 8 Market by Grade
- Figure 9 Global Teak Decking Market, by Grade, 2022 & 2032 (USD Million)
- Figure 10 Teak Decking Market Assessment, By Geography, 2019-2032 (USD Million)
- Figure 11 Strategic Analysis - Teak Decking Market
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