Global Plastic Fencing Market share is set to surpass USD 6 Billion by 2024; according to a new research report by Global Market Insights, Inc. Increasing construction spending in residential as well as commercial infrastructure will propel plastic fencing market size. As per analysis, global residential construction spending is expected to surpass USD 4.5 Trillion by 2024. Rising need for security particularly for residential buildings due to increasing crime rate will drive industry growth.food packaging production line
Changing lifestyles and rapid urbanization remains key factors supporting the industry demand. Increasing preference towards private buildings due to shifting trend towards nuclear families will positively influence product demand. Growth in renovation and remodelling projects coupled with increasing government investments in public infrastructure will propel business growth.
Shifting consumer preference towards sustainable and eco-friendly products will drive plastic fencing market growth. High durability, minimal maintenance, improved safety along with cost efficiency are among key properties fuelling product penetration. Technological advancements and product innovations including composite materials has enhanced industry demand.
Vinyl is expected to witness growth over 6% up to 2024. Increasing consumer awareness regarding benefits of vinyl over other fence material including high strength, resistance against harsh climatic conditions along with cost efficiency has enhanced product demand. Growth in new construction projects along with residential renovations will propel industry size. Increasing government investments in public infrastructure to provide security and safety will further drive plastic fencing market share.
Superior resistance from corrosion, pests and decay along with excellent weather stability properties will stimulate industry growth. Maintenance free properties in extreme climatic conditions accompanied by enhanced protection from rotting as compared to wood will drive plastic fencing demand. However, larger consumer base for metal and wood fence due to its traditional and classic look representing urban lifestyles may restrain the industry growth.