The fence is basically a structure that surrounds the boundary in order to prevent the crossing of an established boundary. Fencing is done for a variety of purposes such as security, avoiding theft and trespassing, and enhance aesthetics. Moreover, they are classified into Agricultural/ livestock wire and commercial wire. Fence materials are produced from different types of products such as metal, wood, plastic and composite, and concrete.
The global fencing market is expected to surpass US$ 44,801.7 Mn in terms of value by the end of 2028.
The growing construction of a new structure is driving the market growth of the fencing. Increasing focus on renovation and remodeling of the existing building due to developing economy is again fueling the market growth of the fencing. Moreover, growing safety concerns due to increasing cases of theft around the globe are also expected to foster market growth. Furthermore, growing consumer interest to improve the home and home decor is driving demand for innovative and home improvement products. All these factors are propelling the market growth of the fencing over the forecast timeframe.
Increasing acceptance and popularity of synthetic alternatives is expected to bring new market growth opportunities over the forecast period. Growing demand for a stylish fence for lifestyle comfort and convenience is again driving the market growth of fencing. Increasing population coupled with the growing acceptance of a synthetic alternative such as a temporary fence, wire mesh, steel fence post, wire fence, and the portable fence is further augmenting the market growth of fencing over the forecast period.
Global Fencing Market: Recent Developments
The fluctuating price of raw materials used in the production of a fence is projected to hinder the market growth of the fencing. For instance, the fencing industry pays high tariffs on gas and electricity as compared to other industries. The high cost of gas and electricity which contributes to more than 30% of overall production cost of fencing products is expected to the restraints market growth.
Global Fencing Market - Impact of Coronavirus (Covid-19) Pandemic
The Covid-19 outbreak has had an adverse impact on various industries around the globe. Due to the strict rules and regulations undertaken by government to curb the spread of the infection, companies are looking to function remotely. Moreover, various companies are looking to implement strict measures to operate at minimum risks. Additionally, various companies had shutdowns their manufacturing units which had an adverse impact on fencing market.
To know the latest trends and insights prevalent in the Global Fencing Market, click the link below:
Arnold Laver a British timber company has developed DBFence which an acoustic barrier system designed to drown out sound. It is the perfect choice for reducing noise in a high-traffic and/or high-noise environment, close to residential areas.
Plastic fencing is gaining traction in the residential sector due to its natural appearance. Factor such as low cost, durability, and low maintenance are driving demand for plastic fencing. The growing use of fences in public places and government organizations is again projected to augment the market growth of the fencing. The growing demand for fencing in the petroleum and chemical sectors is further projected to foster the market growth of the fencing over the forecast period.
Increasing income levels around the globe coupled with the evolving agricultural sector of emerging economies such as India and China is contributing to the market growth of fencing. Rapid urbanization and a rise in expenditure on institutional construction are further projected to market growth of the fencing. The growing innovation and development associated with the technology and designs is further projected to bolster the market growth of the fencing over the forecast period.
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