I am trying out a new product today. It is called Behr Deck Over. This is a new class of paint that I frequently see out there during my inspections. It is designed for re-coating weathered decks. The manufacturer claims that the coating is 5 times thicker than paint. It works with wood, concrete, and composite surfaces. DeckOver creates a solid color non-slip surface. It will cover splinters and cracks up to a quarter inch.
I recommend that before you purchase a product like this, that you inspect the structural portions of the deck, make sure the framing is in good condition, and determine that the deck is firmly bolted to the house.
Ironically I’ll be using this product on the wooden sides and floor for a trailer that I have. But soon I will also try it out on the deck I have on my mountain cabin.
If you would like more information, here is a video from the manufacturer.