CLEVELAND, Aug. 12, 2020 /PRNewswire/ — The Freedonia Group has published four new deep-dive analyses of key segments of the $8 billion US fencing market: Chain Link Fencing, Plastic Fencing, Wood Fencing, and Residential Fencing. Highlighted below are some of the key findings:
Residential Fencing Market: Plastic to See the Fastest Growth, While Wood to Remain Most Used
Through 2024, the residential fencing market is forecast to grow 3.3% annually in value terms. Homeowners will continue to invest in wood fencing – predominately privacy and picket types – due to its widespread availability and relatively low cost. Consumers are expected to continue to opt for the appealing aesthetics of wood.
Wood Fencing Market: Prefabricated Wood Fencing to Climb Faster Than Fences Assembled On-Site
Through 2024, prefabricated wood fencing – which accounted for 67% of wood fencing demand in 2019 – will record faster market advances than individual components assembled on-site:
- Using prefabricated panels helps reduce time and labor costs during fence construction.
- Shortages of trained installers will also encourage fencing contractors to use prefabricated panels that can be more easily installed by workers with less training.
Plastic Fencing Market: Wood-Look Products Drive Above Average Market Growth
Demand for plastic fencing is forecast to rise at a 5.3% annual rate through 2024, the fastest rate of any fencing material segment. The residential market will remain by far the dominant outlet for plastic fencing, as homeowners increasingly opt for vinyl fencing as an alternative to wood, especially in the new residential market.
Chain Link Fencing Market: Nonbuilding to Post Largest Sales Increase Among the Major Markets
The nonbuilding market for chain link fencing is projected to outperform the residential and commercial building segments through 2024. Long-term increases in infrastructure and military spending will support sales of chain link fencing for security purposes. Unlike in building markets, aesthetic concerns are much less important than cost and durability in the nonbuilding sector, which limits competition from ornamental metal, wood, and plastic fencing materials.
Looking for More?
Chain Link Fencing, Plastic Fencing, Wood Fencing, and Residential Fencing are now available from The Freedonia Group.
About The Freedonia Group – The Freedonia Group, a division of MarketResearch.com, is a leading international industrial research company publishing more than 100 studies annually. Since 1985 we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Each study includes product and market analyses and forecasts, in-depth discussions of important industry trends, and market share information. Studies can be purchased at www.freedoniagroup.com and are also available on www.marketresearch.com and www.profound.com.
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SOURCE The Freedonia Group