Fencing and Lattice Market Size, Share, Growth, and Industry Growth, By Type (Recycled and New Plastic Material, Bamboo Material, Wood Material, Metal Material, And Others), By Application (Residential and Commercial), Regional Forecast (2022-2028)

REPORT OVERVIEW

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The global fencing and lattice market size is expected to be USD 29.07 billion in 2022. The global COVID-19 pandemic has been unprecedented and staggering, with fencing and lattice experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is projected to touch USD 34.67 billion by 2028, exhibiting a CAGR of 3.0% during the forecast period. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

Fencing and lattice are used for the safety of the house, buildings, or malls. It is an enclosed structure, usually outdoors and is generally constructed from connected posts of boards, rails, netting, or wires. A fence works as a wall but is different from a wall as it does not have any solid foundation on its length. Additionally, the lattice is a wooden or metal-made strip which is made in crossed and fastened together with diamond or square-shaped spaces in between. These lattices are used to make borders around the building. Fences and lattices were previously used around agricultural land to protect it from animals and unauthorized populations. 

Fence and lattice are also used in railway lines, prisons, industrial plants, swimming pools, and spas. The basic use of the fences and lattice is to give security to the property. Additionally, fences and lattices work great in the security of the house, agricultural land, animals, or any other commercial building. The market is expected to grow due to the rising cases of theft, robbery, and terror attacks. Furthermore, the government’s investment in the development of parks, public places, and other government facilities is likely to escalate market growth.

COVID-19 Impact: Disturbance in Supply Chain Affected Market Growth

The pandemic outbreak affected the growth of various industries globally. The stringent imposition of various restrictions such as lockdown, social distancing, the ban on manufacturing industries and many more laws made it difficult for the manufacturing industries to manufacture products. Restrictions on travel affected the sector of building materials. The ban on all the industries resulted in the downfall of the market due to the lesser supply of the product. The construction industry was also kept on hold during the pandemic which affected the market growth rate. The supply could not be fulfilled due to the ban on manufacturing industries.

LATEST TRENDS

"Rising Security Concern Among Population to Bolster Market Growth"

Increasing concern of robbery and terror attacks is anticipated to surge the expansion of the market share. The rising spending on military bases to keep the area protected from unauthorized trespassing from enemies and civilians is likely to propel the adoption of the product. The rising safety concerns of commercial places such as shopping centers, banks, tourist destinations, and other public places from terrorist attacks and thief to bolster product demand. Moreover, the government is focused on enhancing parks, public spaces, and other government facilities which is likely to boost the demand for the product in the global market. 

Segmentation

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By Type Analysis

By type, the market is segmented into Recycled and New Plastic Material, Bamboo Material, Wood Material, Metal Material, And Others

Commercial use is anticipated to dominate the type segment due to the product’s increasing demand in various non-residential places such as educational institutes, country borders, government complexes, national parks, and others. 

By Application Analysis

Based on application, the market is classified into residential and commercial applications.

DRIVING FACTORS

"Various Product Designs Helping in Beautifying Places to Bolster Growth"

Manufacturers are coming up with innovative and beautiful designs in fencing and lattice, which is anticipated to gain traction in the market. The population’s urge to own a beautiful house with innovative product designs is also forecasted to be the factor propelling the market growth. Moreover, the inclination of the population to live in luxurious house which has fences and lattices in their park or in the boundary is expected to boost growth.

"Increasing Global Population to Surge Fencing and Lattice Market Growth"

The steady growth in developing countries and the increasing human population results in higher construction activities in the market, which is forecasted to aid growth in the market. The cost of construction and installation of fences and lattice structures in on a constant rise due to inflation. Additionally, consumers’ concern for home repair, improvement activities, and maintenance is escalating the demand for fencing or lattice. The population is expected to rise consistently which comes up with the requirement of more houses and eventually more fencing and lattice. Thus, the market is likely to grow within the forecast period.

RESTRAINING FACTORS

"Low Quality Products and High Maintenance Cost to Hamper Market Growth"

Low-quality product gets easily rusted, broken, or cracked as the low-quality product is not prone to the changing climate conditions. Using these low-cost products also gets spoiled or damaged after a short period of time and these factors are anticipated to hamper the growth of the market. Additionally, the installation of barriers on boundaries and proper maintenance of these fencing and lattice is anticipated to affect the growth of the market. The high cost of the product is likely to resist the general population from buying it and thus hampers the growth of the market.

REGIONAL INSIGHTS

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"Rising Demand For Standalone Homes to Surge Growth in North America"North America is anticipated to lead the global market due to the increasing number of standalone homes with well-maintained fencing and lattice, separating their neighbors. The demand for a standalone home with appropriate fences or lattices to secure the home is anticipated to drive the fencing and lattice market growth.

Asia Pacific is expected to show significant growth due to the governments focus on maintaining the protected or restricted areas by fencing or lattice within the country. Additionally, the rising construction activities in various countries of the region are forecasted to aid growth in the market. 

KEY INDUSTRY PLAYERS

"Key Companies to Emphasize On Strategic Alliances to Grow"

The market is fragmented and consists of various competitors that include small, medium, and large-sized companies. The companies are engaged in developing strategic alliances to enhance their product portfolio and gain steady growth in the market. Key industry players are expected to focus on gaining collaborations, mergers, and acquisitions to expand in the global market. The manufacturers are coming up with various fancy designs in lattices and fences to gain more customers in the market. Additionally, the companies are emphasizing on gaining more customers by developing customized products. 

List of Market Players Profiled

• Fortress Fencing (U.S.)
• Trex Seclusions (U.S.)
• Fiberfence (U.S.)
• SGC Products (Canada)
• Midwest Manufacturing (U.S.)
• CertainTeed (U.S.)
• Menards (U.S.)
• UltraDeck (India)
• Fiberon (U.S.)
• Infinity Euro Fencing (U.S.)
• Fiberdeck (France)
• Composite fencing supplies (England)

INDUSTRY DEVELOPMENT

• June 2020: LP Building Solution revealed that it will be launching its series of 76 new fencing by its partnership with Home Depot.

REPORT COVERAGE

The report emphasizes on study and analysis of the global market based on its segment, regions, and key competitors. The information constitutes of significant factors responsible for the development of the market and surges the fencing and lattice market growth. The report focuses on the key players and their headquarters. Regional analysis is also presented in the report to explain the contribution of various regions in the market's growth. It constitutes market trends and restraints to understand the market appropriately. This report is an overall insight into the market.