Fencing is an important aspect of construction as it protects and secures the space for its owners. It also creates a tangible boundary and provides a meaningful demarcation. Besides making a statement, fencing is also used for enhancing the aesthetic appeal of buildings and properties. As more and more consumers are showing an inclination towards home décor and home improvement, they are investing in unique fencing ideas, which is boosting the overall fencing market.
Commercial Wire Fence to Dominate Overall Market
The global fencing market is segmented on the basis of product, material, end users, and geography. The products available in the global fencing market are agricultural or livestock wire fence and commercial wire fence. The agricultural or livestock wire fence segment is further sub-segmented into hinge joint fences, electric fences, and other agricultural wire fences. On the other hand, the commercial wire fence is divided into chain link fences, welded wire fences, and other commercial wire fences.
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The majority of the market share is held by the commercial wire fence segment and it is anticipated to be the fastest-growing segment in the coming few years. The primary growth drivers for this segment will be the rampant industrialization and construction activities around the world. Furthermore, the rising issues related to security and safety are also likely to propel the global fencing market in the near future. The end users of fences are sectors such as residential, industrial, and agricultural. Out of these segments, the agricultural wire fence segment is poised to grow at a rapid pace in the emerging economies of Asia Pacific.
Durability of Plastic and Composite Fencing to Propel Segment
The materials used for making metal fence are barbed and twisted steel wire fences, non-wire fences, and other metal fences. Meanwhile, the wood fence segment includes assembled fences, unassembled fences, and other wood fences. Plastic and composite fences are made of vinyl, HDPE, and composites. Besides these materials, concrete is also used for making fences.
Out of the aforementioned materials, the metal fencing market brings in the maximum revenue for the overall market. However, analysts predict that the plastic and composite fencing segments are likely to surge ahead in the long-term due to the enhanced durability of these materials. The sale of these materials is also expected be boosted by the fact that they are low on maintenance and do not require regular repair.
Construction Activities to Dictate Market’s Growth Worldwide
Geographically, the fencing market is segmented into North America, Asia Pacific, Europe, and Rest of the World. Currently, North America is leading the global fencing market followed by Asia Pacific and Europe. The fencing market in North America is primarily being driven by the rising residential sector and increasing demand for decorative fencing products from consumers. Furthermore, Asia Pacific has been anticipated to be the fastest growing fencing market in the near future due to the burgeoning agricultural sector and ongoing construction projects.
Competitive Pricing Creates Stiff Competition
Despite positive trends, the global fencing market is being stymied by constantly changing raw material prices and skyrocketing energy costs. Additionally, as players are being pressurized into reducing their profit margins with competitive pricing, it is creating a tough state of competition for key players such as CertainTeed, Bekaert, Betafence NV, Jerith Manufacturing Company Limited, Poly Vinyl Company Incorporated, Ply Gem Holdings Incorporated, Gregory Industries Inc., Long Fence Company Incorporated, and Associated Materials LLC operating in the market.