NEW YORK, April 16, 2015 /PRNewswire/ -- Demand for fencing in the US is forecast to expand 7.0 percent per year to $9.0 billion in 2018, totaling 875 million linear feet. Advances will be spurred by an anticipated rebound in building construction spending from a low 2013 base. Growth will also be boosted by rising consumer interest in such high-value fencing materials as ornamental metal and plastic and composite lumber fencing. Many consumers are opting for fences made from these materials based on their ability to improve the appearance and value of the properties where they are installed.
Nonresidential market to outpace residential
Demand for fencing in the large residential market is forecast to rise at an aboveaverage pace through 2018, fueled by a strong rebound in housing completions. The residential improvement and repair segment will further support demand advances as homeowners who put off or canceled home improvement projects during the 2007-2009 recession and its aftermath undertake them going forward. Residential fences are typically installed to improve the exterior appearance of properties or to enhance privacy. US nonresidential building construction applications are expected to exhibit even more rapid advances in fencing demand, reaching $2.3 billion. Strong gains in
nonresidential building construction expenditures will spur growth. The office and commercial construction segment will register the most rapid advances in fencing demand as owners of hotels, resorts, shopping malls, casinos, and retail sites install fencing to create security barriers, delineate parking areas, and enhance privacy in an aesthetically pleasing manner.
Plastic & composite, concrete fencing to grow fastest
Among the different fencing materials, plastic and composite and concrete fencing are expected to see the most rapid gains in demand in value terms through 2018. Concrete fencing demand will be boosted by increasing consumer interest in durable yet attractive privacy fencing. US demand for plastic and composite fencing will be driven by the growing use of these materials as more durable alternatives to wood fencing. Plastic and composite fencing has longer lifespans and requires less maintenance than wood fencing.
Ornamental fencing to pace key metal fence segment
Metal fencing accounted for the largest share of fencing demand in terms of both value and linear feet in 2013 and will continue to do so through 2018. While chain link fencing will continue to be used as an inexpensive yet durable way to mark boundaries and secure properties, ornamental metal fencing will post the strongest demand advances of all metal fencing products. Ornamental metal fencing will increasingly be specified by home and business owners as an attractive alternative to chain link fencing because it enhances the exterior appearance and value of their properties.
This upcoming industry study presents historical demand data for 2003, 2008 and 2013, as well as forecasts for 2018 and 2023 by material and US region. The study also considers market environment factors, evaluates company market share and profiles US industry players such as Master Halco (ITOCHU), MMI Products (CRH), Ameristar Fence Products (ASSA ABLOY), Universal Forest Products and Allied Tube & Conduit (Atkore).
Read the full report: http://www.reportlinker.com/p0703267-summary/view-report.html
ReportLinker is an award-winning market research solution that finds, filters and organizes the latest industry data so you get all the market research you need - instantly, in one place.
Contact Clare: firstname.lastname@example.org
Intl: +1 339-368-6001