Press release
Fencing Market 2022: Worldwide Opportunities, Driving Forces, Future Potential 2031
Fence is a structural element created to increase safety and prevent anyone from crossing a defined boundary. It differs from a wall in terms of weight, design, and structure. Fences are built for a variety of purposes including security, theft prevention, keeping children and pets in a specific area, protecting farmland from potential predators, and enhancing the esthetics of property and boundary fencing.Leading fencing contractors, manufacturers, suppliers, and exporters are focusing on using plastic composites and synthetic raw materials in the production of fences due to their low cost and better esthetics.
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Rise in building activities and infrastructure development in residential, commercial, and industrial sectors are likely to boost the global fencing market. Leading real estate players are increasing their investments in large-scale residential and commercial projects. Security fences are necessary to protect buildings and homes. Growth of the real estate sector and rise in construction of malls, offices, and industrial facilities are fueling the demand for fencing.
According to data issued by the Canadian Real Estate Association, home sales in Canada increased by 0.9% in September 2021 compared to August 2021, marking the first monthly increase in transactions since March as benchmark home prices increased by 1.7%. The need for fences is also anticipated to increase due to the growth in office and commercial building renovation and maintenance activities.
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Growth of the global fencing market is also driven by the increase in concerns related to security and safety. Companies and institutions recognize the need to outfit their homes and places of business with security fences as security risks grow. Commercial, industrial, and even residential sectors are investing significantly in fences to protect their workplaces and homes. Demand for electrified fencing security systems has increased as a result of the rise in thefts and crime over the past several years. Customers are reinforcing their physical site security solutions by installing fences.
Residential fencing enhances the esthetic appeal of homes in addition to serving as a protective element for safety and privacy. The market for fences is being driven by the rise in demand for high value fencing materials and increase in consumer preference for home remodeling. Customers all over the world prefer to choose a fence that is durable and specifically made to improve the esthetic beauty of their areas. PVC and other synthetic raw materials can be ideal replacements for traditional fencing, as they enhance the esthetics of the area at a low cost.
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The variable cost of raw materials has been hindering the fencing business. Metals such as aluminum, steel, and iron, are the primary raw materials used in fences. The worldwide fencing market is being hampered by the fluctuating cost of these raw materials as well as rising import taxes on raw materials including plastic, wood, and metal. The fencing market is also contracting as a result of low-quality and counterfeit items.
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