The fencing market had more than $ 23 billion in 2014 and with the remodelling, improvement, and new construction work it is anticipated to boost the requirement of the market in the future. The market is also anticipated to rise further with the growing concern of security & safety, spending in commercial constructions, office rebounding, and transportation construction. The rising requirement might be because of the necessity of improvising the property value and appearance. Speeding spending for institutional construction is expected to support growth of fencing market.
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Governments’ increased expenditure for the enhancement of their premises, public parks &common places might boost the market as well. The main criteria for buying include aesthetic value, quality, design, and cost factors. Consumption has increased with the growing requirement by the farmers for the safety of their livestock and property. The expansion of the market may be challenged by the contractors without license. The growth may be affected by the rise in cost of the raw material like wood, aluminium, or iron over the forecast period.
The market is divided into materials, applications, and regions. Material wise the market includes metal, plastic, wood, concrete, and composites. Metal fencing sector had global revenue more than 50% in 2014 and is expected to be the key sector in the future. This is because of the growing usages in government associations and public places. Ornamental and chain link fencing might steer the metal fence sector.
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Wood might be the inter product competition between composite and plastic in the future period due to low cost. Low maintenance, Lower cost, and durability might obstruct the wood market and boost the requirement of plastic and composite market in the future. The growth of concrete fencing is anticipated to be more than 5,5 % CAGR from 2015 to 2022.
Application wise it can be divided into residential, industrial, and agricultural fencing. Residential sector had more than $ 14 billion value and is expected to be the major sector in future. Agricultural sector demand may rise due to the safeguard requirements for crops, farm animals, and areas of the farm with respect to thieves and wild beasts and is expected to boost demand in this segment. The market raise may also be due to demand from industrial premises, school, and colleges.
Europe and North America is anticipated a major growth over the forecast period. North America had revenue share more than 30% in 2014 globally and is anticipated at 3.5% CAGR growth in future. Asia Pacific market is expected to drive due to Japan, India, and China along with the evolution of agriculture segment. The major industries for the market are CertainTeed, Allied Tube & Conduit, and Betafence.
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