Teak Decking Market to Grow at 4.6% CAGR, Expected Revenue to Hit USD 1,366.1 Million by 2033
In 2023, the global teak decking market was USD 871.6 million. Sales of teak decking are expected to grow at a 4.6% CAGR globally between 2023 and 2033, according to the assessment period. By the end of 2033, revenue is expected to reach a market size of USD 1,366.1 million.
The growing tourism industry is one of the main factors driving the teak decking market. Boats, super yachts, and yachts are in high demand due to the rising popularity of marine tourism and leisure activities. Marine leisure companies are using teak decking to enhance the opulent experience and aesthetic appeal.
Teak decking is widely used in the tourism and hospitality sector, particularly in areas with coastal or waterfront properties. Its exceptional qualities make it appropriate for usage in a variety of applications. Teak decking lends a sense of beauty and elegance to hospitality establishments' walkways, pool decks, and seating areas. It improves the outdoor spaces of hotels and resorts.
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