Plastic Fencing Market Growth & Trends
The global plastic fencing market size is expected to reach USD 6.14 billion by 2027, escalating at a CAGR of 4.9%, according to a new report by Grand View Research, Inc. Ease in the production and installation of plastic fencing drives its demand across residential, commercial, industrial, and agriculture sectors.
The rising number of remodeling and renovation projects in the residential and commercial sectors is projected to boost product demand. In addition, technological innovations and advancements in the production process are anticipated to propel product demand. Rising security and safety concerns are also projected to boost product demand over the coming years.
Increasing spending on infrastructure development coupled with the expansion of the construction industry across the globe is likely to propel product demand over the forecast period. Furthermore, the superior properties of plastic fences, such as waterproofing and resistance to corrosion & decay, are projected to stimulate its demand, thereby driving the market growth.
Volatile raw material prices are anticipated to restrict the demand for plastic fencing over the forecast period. However, the superior mechanical properties including weather resistance and resistance to scratch and wear, coupled with low maintenance costs are likely to benefit the market growth over the forecast period.
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The vinyl material segment accounted for the largest market share of 52.7% in 2019 and is projected to expand at a steady CAGR from 2020 to 2027 owing to the superior mechanical properties of vinyl
The picket fence was the largest product segment and accounted for 33.6% of the global share in 2019. The segment is estimated to expand further at the fastest CAGR over the forecast period
Increasing DIY activities and low cost of production and installation of picket fence are projected to promote the segment growth from 2020 to 2027
Temporary fencing is projected to gain traction due to its rising demand in outdoor locations to provide safety and security. The segment is anticipated to grow at a CAGR of 5.2% from 2020 to 2027
The residential end-user segment led the market in 2019 and is anticipated to register the fastest CAGR of 5.2% from 2020 to 2027
Asia Pacific is projected to be the fastest-growing regional market from 2020 to 2027 owing to the rapidly growing construction industry in emerging economies like China and India
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