A recent compiled research report of Fact.MR envisages the global ceiling tiles to make a splendid 9.1% volume CAGR in the forecast period, 2017 to 2026. Worldwide ceiling tiles sales are close to approximately US $ 50,000 Mn by 2026- end.
Remodeling & Renovation Activities to Remain Key Trends Influencing the Market Growth
Surging awareness about home décor, growing GHDI across emerging countries, and increasing home prices, have been homeowners making huge investments in home remodeling and renovating activities. Robust spending by individuals has been observed in the renovation activities associated with suspended ceiling panels. Growth in remodeling and renovation activities are growing.
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Emerging countries are making enormous investments in the development of their commercial spaces, manufacturing plant construction, institutional buildings, and public infrastructure. For example, demonetization has led the Indian government to trim their fiscal deficit, and encourage them to make robust investments in real estate. Search developments wants to get back on demand for ceiling tiles in the forthcoming years.
5 Key Projections on Future of Ceiling Tiles Market for Forecast Period 2018-2027
1- The market in Asia-Pacific excluding Japan (APEJ) is expected to spearhead the market in terms of sales expansion. Increasing foreign investment particularly in India and Southeast Asia, coupled with robust construction activities apropos information technology parks and new offices that are driven by the rise in popularity is a key factor propelling the market expansion in APEJ.
2- Among product types, mineral fibers will remain sought-after in the market on account of their noise reduction characteristics.
3- Commercial application of ceiling tiles. Rockfon’s new stone wool ceiling panels for auditorium, theatres, and restaurants applications.
4- Surface mount installation wants to remain preferred for ceiling tiles on their back of their operational convenience and user-friendly attributes.
5- Based on form, laminated ceiling tiles will continue to lead the market, in terms of both value and volume.
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Acquisitions and Product Innovation to Remain Key Expansion Strategies among Market Players
Manufacturers of ceiling tiles are eyeing achievement of business expansion via implementation of key strategies that include product innovation and acquisitions. Geometrix ™, USG Boral’s specialty ceiling panels, designed for high-end design projects. Produced from lightweight aluminum, Geometrix 3D metal-based specialty ceiling panels. Geometrix has also been made with the High Recycled Content (HRC) by this Global Leading Ceilings & Paving Joint Venture.
USG Corporation has recently made an announcement on its definitive agreement on Ceilings Plus‘ acquisition. USG wants to pay nearly US $ 52 Mn for acquiring this leading producer of specialty ceiling products. Incorporating Ceilings Plus is likely to enhance USG’s product portfolio, thereby accelerating innovation and improving its presence in the marketplace of specialty ceilings. By joining USG, Ceiling’s Plus aims at propelling their ongoing evolution through provision of access to greater manufacturing capabilities, and broader sales coverage. Search innovation and acquisition activities are likely to fuel growth in the upcoming years.
Key market participants profiled by Fact.MR’s report include Armstrong World Industries, Inc., Techno Ceiling Products, New Ceiling Tiles, LLC, and Odenwald Faserplattenwerk GmbH. The report thus offers analysis on the product and business strategies of prominent stakeholders in this market.
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