A fence refers to a structure that is designed in order to create an established boundary. Fences are considered as a vital requirement while constructing any kind of property, be it commercial, residential, or agricultural. The primary use of fences is to offer security and demarcation to a property and further enhance its visual appeal.
The increasing consumer interest in home improvement projects is further expected to augment the growth of the global fencing market in the next few years. Thus, the global market is estimated to reach a valuation of US$29.1 bn by the end of 2018. It is further projected to register a healthy 4.40% CAGR between 2012 and 2018.
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Developing Economy and Infrastructure in Several Countries to Benefit Global Fencing Market
Commercial wire fencing and livestock/agricultural wire fencing are the two major types of fencing offered by players. The increasing construction activities in developing economies are further augmenting the growth of both the segments in the market. In addition, the increasing adoption of synthetic alternatives and increasing need for residential fences are expected to serve as great opportunities for the key players operating in the global fencing market. The economic growth of developing countries across the globe, leading to infrastructure enhancement, is expected to propel the global fencing market in the near future.
On the other hand, the rising need for commercial wire fences is prevailing across building construction and housing projects, owing to the growing demand for security in construction areas. The agricultural or livestock wire fencing segment is also expected to grow substantially in the global fencing market.
Easy Maintenance and Low Cost to Boost Demand for Plastic Fencing
There are several options available in terms of material in the global fencing market including, wood, concrete, metal, and composite and plastic fences. Among all these types, the metal fencing segment is highly popular and holds the largest share in the market. On the other hand, the convenient, longer life, low-cost, and easy maintenance of plastic fencing is anticipated to impel the growth of this segment in the next few years.
The major players in this market are spending a huge amount on research and development activities to come up with innovative products and materials. The best-selling products are the ones that can offer the right mix of security and aesthetics.
Developing Innovative Fencing to Offer Competitive Edge to Market Players
The growing demand for residential fence and the increasing popularity and acceptance of synthetic alternatives are some of the key opportunities for the major players to create a niche for themselves. In addition, these players are making efforts to develop attractive and innovative fencing designs to attract more consumers and gain a competitive advantage over their rivals. However, the increasing energy prices and volatile raw material costs are hampering the growth of the global fencing market.
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Some of the leading players operating in the global fencing market are Ply Gem Holdings Incorporated, Jerith Manufacturing Company, Long Fence Company Incorporated, CertainTeed Corporation, Poly Vinyl Company Incorporated, Gregory Industries, Inc., Betafence NV, Bekaert,
Allied Tube & Conduit, Ameristar Fence Products Incorporated, and Associated Materials LLC.