Newark, NJ, Oct. 22, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global plastic fencing market is expected to grow from USD 5.25 billion in 2020 and to reach USD 8.17 billion by 2028, growing at a CAGR of 5.69% during the forecast period 2021-2028.
The plastic fencing market is witnessing significant growth from the past years. This growth is attributed to growing safety and security concerns which are expected to stimulate demand for products in the agricultural, residential, commercial and industrial sectors. Expansion of the construction sector in developing economies, coupled with the growing number of renovation and remodelling projects in the residential sector increase the demand of plastic fencing. The increased demand for interior decoration and refurbishment activities is expected to stimulate the growth of the industry. The US market is expected to show significant growth due to the growing number of crimes and rising levels of security and security awareness. Changing the preference for sustainable and environmentally friendly fencing solutions will influence the market.
Plastic Fencing is referred to as an affordable, reliable, five times stronger and more durable alternative to a wooden fence. The good combination of wood and plasticis increasingly used in applications such as decks, railings, landscaping woods, benches, siding, trim and mouldings. Plastic fence eliminates the need for costly painting or staining efforts to protectas it does not absorb moisture, does not bubble, does not peel, rust or rot. Plastic fences are cheaper than wooden and iron fences. Plus, the installation process for plastic fences is quick and easy. PVC is a thermoplastic resin. It is the third most produced synthetic plastic in the world. It is used in a variety of markets, including bottling and packaging. When plasticizers are added, it becomes flexible, making it a sought-after material for the construction, plumbing and cable industries.
The global plastic fencing market is expected to witness significant growth, owing to increasing demand for sustainable and eco-friendly composite materials, growing demand for decorative and improved products, an increase in construction activity and safety awareness, increase infrastructure development, and growth in remodelling and renovation activities. The factors restraining the market growth are government regulations related to plastics in developing and under-developed regions, low physical strength compared to alternatives. Technological advancements and product innovations including pre-woven vinyl fence, reflective fence will provide market growth opportunities.
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Key players operating in global plastic fencing market include Pexco, Barrette Outdoor Living, ITOCHU Corporation, Planet Polynet, Seven Trust, CertainTeed, Superior Plastic Products, Tenax, Veka AG, Durafence. To gain a significant market share in the global plastic fencing market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership. Seven Trust Laboratories Inc. and Tenax are some of the key manufacturers operating in plastic fencing market.
Vinyl segment dominated the market and held the largest market share of 62.9% in the year 2020
Based on material, the global plastic fencing market is segmented into Vinyl, Polyethylene (PE)/ High-density Polyethylene (HDPE). The vinyl segment dominated the market and held the largest market share of 62.9% in the year 2020. This growth is attributed to the easy installation, abundant availability, superior strength, low maintenance and other mechanical properties of vinyl fence materials.
Picket Fence segment dominated the market and held the largest market share of 45.15% in the year 2020
Based on product, the global plastic fencing market is segmented into Rail & Post Fence, Picket Fence, Mesh/Chain Link Fence, Gates. The picket fence segment dominated the market and held the largest market share of 45.15% in the year 2020. This growth is attributed to the simple process of building and installing fence.
Privacy segment dominated the market and held the largest market share of 50.9% in the year 2020
Based on application, the global plastic fencing market is segmented into privacy, boundary, temporary. The privacy segment dominated the market and held the largest market share of 50.9% in the year 2020. This growth is attributed to the growing demand for superior aesthetics in domestic buildings coupled with the increase in construction and renovation activities.
Residential segment dominated the market and held the largest market share of 55.9% in the year 2020
Based on End-user, the global plastic fencing market is segmented into agriculture, residential, commercial & industrial. Residential segment dominated the market and held the largest market share of 55.9% in the year 2020. This growth is attributed to the growing residential construction and renovation projects on the rise and Increase in public spending on residential construction projects.
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Regional Segment of Plastic Fencing Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global plastic fencing market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America region held the largest market share of 57.16% in the year 2020. This growth is ascertained by the U.S. in the North America region owing to regulations on installing fences around the pool for safety reasons and growing demand for privacy fences to enhance the aesthetics of the home in the country. The market in Asia-Pacific is expected to witness significant growth, owing to evolving agricultural sector in emerging economies such as India and China, rapid urbanization combined with higher institution building costs in the country.
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About the report:
The global plastic fencing market is analysed based on value (USD billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insights of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitors’ position grid analysis.
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