CLEVELAND, May 27, 2020 /PRNewswire/ -- The fencing industry, like the construction sector overall, is seeing a significant impact from the ongoing COVID-19 pandemic in terms of both sales and production. Although this impact is expected to be most intense in the short-term, it could have lasting implications for the industry if habits developed during this crisis are retained.
Metal Will Remain the Most Used Fencing Material
Metal fencing demand is forecast to increase 2.7% annually through 2024 to $4.9 billion. Metal will remain the largest fencing material type in both value and linear feet due to:
- the specification of metal fencing because of its durability, minimal maintenance requirements, and security attributes
- the increased use of higher priced ornamental metal fencing because of its attractive appearance
- ongoing demand for chain link fencing among cost-conscious consumers looking for durability
Chain link fencing was the leading metal fencing type in 2019 and will account for the majority of metal fencing demand gains through 2024 because of its versatility and low cost relative to ornamental metal. Chain link fencing is used heavily in the commercial and nonbuilding segments as low maintenance security fence. I the residential market, some homeowners and multifamily housing units will specify chain link for its durability and ease of installation.
See the study Fencing for these trends and why plastic fencing will grow the fastest of all types.
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SOURCE The Freedonia Group