Albany, NY -- (SBWIRE) -- 07/15/2014 -- Transparency Market Research published its new report based on Fencing Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2012 - 2018, which states that the global fencing market is expected to reach USD 29.1 billion by 2018, growing at a CAGR of 4.4% from 2012 to 2018. Today, the metal fencing market is in a leading position due to a wide range of products available under this category.
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This report provides in-depth analysis, and information on market shares, sizes, and forecast covering the period 2012 – 2018 for the global fencing market and its sub-segments all over the world. The report also points out the various factors that stimulate the growth of the market. These include the rising consumer interest in home improvement and home décor, and the need for security and safety.
The fencing market is broadly segmented into two major types of categories based on the product type. They are called as commercial wire fence and agriculture wire fence. The global fencing is majorly used in end-use segments such as agricultural, residential, and the industrial sectors. Particularly, the rapidly expanding residential construction sector that highlights the pressing need for residential fences and use of synthetic alternatives serves as a great opportunity for the fencing industry. Also, the growing economies around the world are propelling the growth of the fencing market.
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On the other hand, the commercial wire fence segment dominates the global fencing market in many aspects. There is a huge demand for housing and building construction projects, as well as a rising demand for security and safety in the construction areas. Such facets have poised this market segment as the fastest growing sect in the coming years. In contrast to the residential and industrial segments, the agricultural/livestock wire fence segment is one of the third upcoming segments of the global fencing market, and is expected to grow at a relatively slow pace in the given forecast.
Furthermore, considering the material type, the market is further divided into four other segments such as metal, wood, plastic & composite and concrete fencing. Of the four major fencing materials, more than half of the entire fencing market revolves around the metal fencing material. This type of material accounted the maximum shares in 2012 due to an increasing demand for security and safety. The growth was also primarily due to continued interest in chain link, ornamental, and barbed wire fencing across different end user segments. In addition, because residential buyers find plastic materials more convenient to use in their day-to-day activities, the plastic & composite fencing market enjoys maximum attention from the residential sector.
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This segment is expected to be the fastest growing sector in the coming years. The vinyl fence is another type of plastic fence that is eye-catching in appearance, has ease of repair, long-term durability, and hassle-free maintenance. It is augmented to grow at a faster rate too. Lastly, the market for wood fencing is the second largest segment and is expected to grow at a moderate growth rate from 2012 to 2018. The market for wood fencing includes unassembled fences, assembled fences, and other wood fences. However, the global fencing market is affected by the fluctuating raw material prices and the rising energy cost on a large scale.
The global fencing market is further segmented by geography into North America, Europe, Asia Pacific and Rest of the World regions. North America is currently the largest regional market for fencing products, followed by other regions such as Asia-Pacific and the European regions. Owing to rapid industrialization and voraciously increasing housing constructions in India and China, Asia Pacific is expected to be the fastest growing region in the coming years.
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