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Plastic Fencing Market to Hit $6 Billion by 2024
New York Ag Connection - 01/12/2018

Global Plastic Fencing Market share is set to surpass $6 Billion by 2024; according to a new research report by Global Market Insights, Inc. Increasing construction spending in residential as well as commercial infrastructure will propel plastic fencing market size. As per analysis, global residential construction spending is expected to surpass $4.5 trillion by 2024. Rising need for security particularly for residential buildings due to increasing crime rate will drive industry growth.

Changing lifestyles and rapid urbanization remains key factors supporting the industry demand. Increasing preference towards private buildings due to shifting trend towards nuclear families will positively influence product demand. Growth in renovation and remodelling projects coupled with increasing government investments in public infrastructure will propel business growth.

Shifting consumer preference towards sustainable and eco-friendly products will drive plastic fencing market growth. High durability, minimal maintenance, improved safety along with cost efficiency are among key properties fuelling product penetration. Technological advancements and product innovations including composite materials has enhanced industry demand.

Vinyl is expected to witness growth over 6% up to 2024. Increasing consumer awareness regarding benefits of vinyl over other fence material including high strength, resistance against harsh climatic conditions along with cost efficiency has enhanced product demand. Growth in new construction projects along with residential renovations will propel industry size. Increasing government investments in public infrastructure to provide security and safety will further drive plastic fencing market share.

Superior resistance from corrosion, pests and decay along with excellent weather stability properties will stimulate industry growth. Maintenance free properties in extreme climatic conditions accompanied by enhanced protection from rotting as compared to wood will drive plastic fencing demand. However, larger consumer base for metal and wood fence due to its traditional and classic look representing urban lifestyles may restrain the industry growth.

Picket fence accounted for more than 45% of global plastic fencing market in 2016. Shifting trend towards backyard decor enhancement due to changing lifestyles will fuel picket plastic fencing demand. Efficient safeguard for children and pets without obstructing views are among key factors driving product demand. Rising demand for garden spaces in both residential and commercial buildings has stimulated product penetration.

Temporary fencing is anticipated to depict CAGR over 5.5% up to 2024. Rising demand for temporary barriers in construction and industrial projects will support industry demand. Strong outlook in military facilities, airfields, wildlife parks, aquatic centres and industrial plants has enhanced product penetration. Heavy R&D investments and product innovations including reflective temporary barriers will propel plastic fencing market size.

Agriculture sector in plastic fencing market is expected to generate more than 100 million linear feet by 2024. Enhanced safety & protection of farms and livestock are among key factors driving the industry growth. Increasing product usage in agri-horticulture farms, aqua farms, and animal research stations will support product demand. Inclination towards vinyl and HDPE fence material due to its superior properties over conventional metal and wood material will fuel business growth.

Asia Pacific plastic fencing market was worth over $600 Million in 2016. Increasing consumer spending on safety products along with overall growth in income levels will propel industry demand. Favourable socio-economic factors along with abundant availability of raw material has stimulated the regional demand.

Tenax Corporation, CertainTeed, Durafence, Pexco, Vega, Associated Materials and Wetherables are among major industry players in plastic fencing market. Global industry share is highly fragmented owing to presence of large number of local as well as international participants. Moreover, growing competition between new entrants and existing players has enhanced product innovations and portfolio expansion.

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