$ 6 BN | Plastic Fencing Market 2019-24 Revenue Forecast By Regional Players
North America plastic fencing market share accounted for 30% of global market share in 2016. Increasing infrastructure spending in private as well as public construction will drive the regional market growth. U.S. average annual rate of construction spending was around USD 1.2 trillion in 2016. Private construction spending was at annual rate of USD 900 billion in 2016. Strong economic conditions accompanied by developed market are the supporting factors of the U.S. plastic fencing market.
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Vinyl is highly consumed material in plastic fencing market. The segment already accounts for over 45% of the demand in 2016. Minimum maintenance cost along with higher mechanical properties are key factors fueling segment growth. Shifting trend towards remodelling & renovation particularly in residential sector remains the key factor driving industry growth.
Picket fence accounted for 40% of the industry share in 2016. Increasing customer’s interest toward outdoor enhancement and home decor will generate substantial gains over the forecast timespan. These fences are a decorative way to keep children and pets inside the boundary without obstructing outside view.
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Residential sector contributes around 50% of the overall plastic fencing market share in 2016. Increasing consumer preference for small and private housing due to shifting trend towards nuclear family is expected to boost demand from residential sector.
Global industry share includes Tenax Corporation, Pexco, Durafence, Weatherables, Veka and Certain Teed other players are Seven Trust, Forgarty PVC, Planet Polynet, Walpole Outdoors and ITOCHU are some of the major manufacturing companies. These companies are anticipated to increase R&D investments and technological innovations to gain competitive advantage.
Related news - https://www.marketwatch.com/press-release/plastic-fencing-market-report-2019-24-revenue-growth-forecast-by-product-material-industry-players-2019-05-29
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