Decking Sales Benefitting from COVID-19 DIY Home Improvement
CLEVELAND, May 12, 2020 /PRNewswire/ -- Decking sales are up during the COVID-19 pandemic. Trex, the leading US supplier of wood-plastic composite decking, reported first-quarter sales that greatly exceeded expectations given the compounding economic and public health crises. The sales boost is due in part to homeowners in lockdown using their idle time to complete renovations, especially smaller scale projects that don't require too much skill or time and are easier to DIY.
In particular, as vacations and other plans continue to hang in limbo, decking manufacturers are likely to benefit as homebound consumers prepare their outdoor areas to provide a more fun and relaxing (if isolated) summer – such as by installing a prefabricated pool or an outdoor dining area.
US demand for decking is projected to exceed $7 billion in 2023. For more information, see Wood & Competitive Decking from The Freedonia Group.
About The Freedonia Group – The Freedonia Group, a division of MarketResearch.com, is a leading international industrial research company publishing more than 100 studies annually. Since 1985 we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Each study includes product and market analyses and forecasts, in-depth discussions of important industry trends, and market share information.
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SOURCE The Freedonia Group