SAN FRANCISCO , May 31, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Fencing Products - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
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Edition: 18; Released: April 2022 Executive Pool: 1291 Companies: 107 - Players covered include Allied Tube & Conduit; Ameristar Perimeter Security; Associated Materials, Inc.; Betafence Corporate Services NV; Certain Teed Corporation; Gregory Industries, Inc.; Jerith Manufacturing LLC; Long Fence; NV Bekaert SA; Ply Gem Holdings, Inc.; Poly Vinyl Creations Inc. and Others. Coverage: All major geographies and key segments Segments: Material Type (Metal, Wood, Plastic & Composite, Concrete); Installation (Contractor, DIY); Application (Residential, Agricultural, Industrial) Geographies: World; United States ; Canada ; Japan ; China ; Europe (France ; Germany ; Italy ; United Kingdom ; Spain ; Russia ; and Rest of Europe ); Asia-Pacific (Australia ; India ; South Korea ; and Rest of Asia-Pacific ); Latin America (Argentina ; Brazil ; Mexico ; and Rest of Latin America ); Middle East (Iran ; Israel ; Saudi Arabia ; United Arab Emirates ; and Rest of Middle East ); and Africa .
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Amid the COVID-19 crisis, the global market for Fencing Products estimated at US$31.7 Billion in the year 2022, is projected to reach a revised size of US$38.9 Billion by 2026, growing at a CAGR of 5.4% over the analysis period. Metal, one of the segments analyzed in the report, is projected to grow at a 5.1% CAGR, while growth in the Wood segment is readjusted to a revised 5.7% CAGR. The fencing market received stimulus from strong home renovation activity that played an important role in counterbalancing the impact of relatively weak construction activity, especially in the commercial category, amid the pandemic. The residential segment provided the needed respite and offered new growth opportunities to fencing providers during the challenging phase. COVID-19-led confinement measures, stay-at-home mandates and closure of outdoor venues coerced people to spend more time at their homes, prompting them to focus on DIY home improvement projects. A large number of homeowners focused more on exterior upgrades such as fence installations as they involve minimal or no direct interactions with contractors. Fencing products also gained from classification of home improvement and hardware stores as essential business, providing customers with access to fencing products.
On the other hand, high consumer demand along with supply shortages during initial phases of the pandemic led to delay in orders and missed revenue opportunities. The scenario prompted leading retailers to expand their distribution capacity for securing key materials, including fencing, to fulfill demand. While majority of homeowners are installing vertical wood boards, the market is also receiving strong support from PVC & plastic fences and chain-link fences. The PVC & plastic fences segment is witnessing immense demand on account of steep rise in lumber prices. The incredible jump in home improvement projects and fence installation is enabling various online remodeling players to serve increasing consumer demand for outdoor improvement products. The trend is also attributed to rising focus on security and privacy along with notable surge in home improvement or repair projects related to outdoor structures, including fencing. These upgrades have considerably surpassed exterior upgrades like siding and windows. The outdoor project wave is anticipated to remain unabated owing to pent-up demand attributed to long wait of homeowners for lower prices. Another prominent factor that is favoring fencing installation is inclination of homeowners towards projects requiring low or no in-person contact with installation workers. The need is prompting an increasing number of home improvement shops to focus on approaches ensuring contact-less ordering and fencing installation. While outdoor spaces represent a prominent home remodeling trend, various shops are not in a position to cater to consumer demand for full-scale outdoor living rooms. These companies are increasingly targeting fence installation to tap the opportunity. Rising popularity of outdoor living is driving stores to expand their portfolios with the addition of fencing. These moves are also credited to heavy margins for fencing installation projects to fencing contractors.
In recent years, consumer awareness regarding environmental protection has increased substantially, resulting in the development of a wide range of environment-friendly products across industries. The fencing industry is also coming up with a myriad of eco-friendly options that not only allow for privacy and aesthetics of residential properties, but also reduce their corresponding environmental impact. One important factor that makes a fencing solution environment-friendly is it having a minimal impact on its surrounding environment. In addition, the materials utilized for building the fences as well as the process utilized for converting these materials into something useful can play a major role in ascertaining whether the fencing solution is environment-friendly. One environment-friendly option is to first identify whether fencing is actually required. In case fencing is being utilized primarily for marking a property's boundary, or for screening or privacy, plants can be used in place of fencing. For instance, the use of native shrubs or trees for creating partitions, windbreaks, or privacy hedgerows can be a much better solution than fencing. However, in situations where permanent fencing is actually required, the materials used for manufacturing fencing and where these materials are sourced from are essential considerations for the fencing option to be called environment-friendly. The use of natural materials, ideally materials source from within the space or the immediate surroundings, is the most sustainable fashion in which fencing can be manufactured. For instance, fencing could be created using fallen branches, or wattle fences could be formed from hazel or other coppiced or pruned branches. Other fencing options using natural materials for manufacturing include willow lattice fencing, bamboo fencing, and log fencing.
In addition, composite fencing can be considered by homeowners for their properties. Manufactured using a mixture of recycled plastic and timber, composite fencing offers a versatile and elegant fencing solution for modern homes. Composite fence is not only responsibly sourced but is also long-lasting, durable, and requires minimal maintenance. In addition, the presence of plastic components makes this fencing solution resistant to moisture and significantly increases its lifespan. For homeowners looking wanting a look and feel of timber but are not comfortable with a timber fence can opt for bamboo fencing. More
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