Press release
Plastic Fencing Market to grow at CAGR of 5% from 2016 to 2023: Global Market Insights Inc.
Global fencing market size was around USD 24 billion in 2015, and is estimated to surpass USD 32 billion by 2023.Plastic fencing market size was valued at over USD 2.5 billion in 2015, with growth prospects of more than 5% from 2016 to 2023. Mounting demand for these products from numerous sectors such as commercial, residential, agricultural, and construction is likely to drive industry over the forecast period.
Escalating demand for these products for enhancing the aesthetic appeal of buildings as well as construction sites is anticipated to propel global plastic fencing market size growth over the next seven years. In addition, rising safety and security concerns among people is also expected to fuel growth over the forecast period.
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The industry has witnessed growing customer interest in home improvement and home decor. Factors such as low cost, high durability and low maintenance have driven consumption.
Use of inferior products by unlicensed contractors may pose a challenge to companies operating in the industry. Low plastic fencing market price trend has encouraged adoption among consumers.
Based on end-use, the plastic fencing industry can be segmented into residential, commercial as well as agricultural. On the basis of product, the industry can be segregated into vinyl, HDPE, wood-plastic composites (WPC), polystyrene, and polyethylene.
Residential segment is predicted to witness substantial growth over the forecast period. Surging remodeling product and construction activity justifies residential demand over the forecast period.
Rising need to safeguard crops, farm animals as well as farm areas from wild animals and potential theft is expected to drive vinyl fencing market demand in the agricultural sector. Commercial or industrial segment is predicted to experience considerable growth due to growing demand from colleges, industrial premises and schools over the forecast period.
Escalating institutional construction as well as government spending for enhancement of parks, government premises and public places may boost demand. Attributes such as quality, cost, aesthetic value and design are forecast to be the key buying factors.
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Vinyl and wood-plastic products are expected to witness high growth prospects and are likely to replace wood products. Various plastic fence manufacturers are now developing products with earth tone colors, low gloss, and embossed wood grains to mimic wood. WPC fencing is predicted to have an edge over vinyl counterparts due to the availability of a wide range of darker colors.
Privacy fence is predicted to be the most popular type installed in residential applications. Chain link fence is one of the lowest priced products and is a preferred choice for homeowners owing to its high effectiveness for security as well as low cost.
North America plastic fencing market size is forecast to continue its dominance owing to presence of large number of production units across the region. Asia Pacific PVC fencing market is expected to experience high growth prospects over the forecast period.
Industry participants comprising plastic fencing market share include CertainTeed, Associated Materials, Long Fence Company, Bufftech, Fox Fence Company, Poly Vinyl Creations, etc. Other players are Deqing Huazhijie Railing & Fencing, Chengdu Geelian Safety and Linan Fentech Fence Products.
End users differentiate products from various manufacturers on the basis of quality and requirements. The industry is primarily influenced by local manufacturers, therefore branding, quality maintenance, and customer service is an important aspect for success. Innovation in product design is another important factor to gain competitive advantage and reduce operating cost.
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About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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Global Market Insights, Inc.
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