Fencing Market Set to Encounter Paramount Growth with Myriad Advances
A structure or barrier that is used to enclose an area, usually built from posts that are connected from wire, boards, netting or rails is referred to as fencing. Fences are used in areas, where wildlife or livestock control is required or where access for people, needs to be restricted. This is also used in border security. Rising border security concerns and increasing construction activities are some of the key factors fuelling growth of the market. According to the United States Census Bureau, in U.S., the non-residential construction activities such as industrial buildings and others, accounted for US$ 276,497 Mn in 2015 and was increased by US$ 303,591 Mn in 2016. Fence manufacturers are offering an array of options for security. In July 2017, Danbury Fencing—a security and agricultural fencing manufacturer—developed an innovative product to its range of Living Fencing. The panels consists of metal grids, which has plants at the bottom and a biodegradable trough making them portable.
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However, fluctuations in raw material prices such as wood, aluminum and plastics stands to be one the major factor hindering growth of the market.
The residential segment accounted for the dominant share in 2016, due to increasing renovation construction activities and maintenance projects. According to United States Census Bureau, in U.S., construction activities were valued at US$ 1,253,294 Mn including residential and non-residential buildings in 2017. However, use of corrugated metal, chain link (except coated and uncoated), corrugated metal and cast off materials is restricted for residential privacy fences.
Fencing Market Outlook:
North America dominated the global fencing market in 2016 and is expected to retain market dominance throughout the forecast period. Rising installation of high value fences such as plastics & composite and ornamental fencing, owing to high resistance to rotting is expected to drive the market growth in this region. According to Association of Plastic Manufacturers, in 2015, the global production of plastic increased by 3.4% as compared to 2014 and is expected to increase three times by 2050. However, installation of fences require permits and this could be a factor hindering the market growth. For instance, according to the Government of Miami-Dade County, installation of fences require permits and its height should not exceed over six feet.
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Asia Pacific is expected to exhibit significant growth in the global fencing market, owing to increasing construction activity. According to Indian Brand Equity Foundation — a trust established by the Department of Commerce, Ministry of Commerce and Industry — Foreign Direct investment (FDI) accounted for US$ 9.82 billion for construction development sector and infrastructure activities sector in 2017. Furthermore, availability of low cost fences is expected to propel the market growth over the forecast period.
According to South Asia Terrorism Portal, fencing is one of the important constituents of maintaining security along the borders to minimize infiltration. For instance, in 2017, the U.S. government announced plans to develop concrete fencing barrier to restrict people from entering the country. This positively affects growth of fencing market.
Fencing manufacturers are adopting various strategies such as partnerships and acquisitions, to sustain their market position. In October 2017, U.S. Fence Solutions — a subsidiary of Spilt Rail Fence & Supply Company — acquired Brother’s Fence Company and Ideal Fencing Corporation to expand in commercial and residential fencing installations.
Some of the major players in the fencing market are ITOCHU International Inc., Builders Fence Company, Inc., Fiberon LLC, Jerith Manufacturing Company, Inc., Richard’s Fence Company, Saint-Gobain S.A., Trex Company, Inc., Merchants Metals LLC, Gregory Industries, Inc., and Ply Gem Holdings, Inc.
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