The global suspended ceiling system market share is expected to reach USD 10.5 Billion in 2032. The requirement of establishing affordable housing is anticipated to push the demand for suspended ceiling systems in the future. As per FMI, the global suspended ceiling system market stood at USD 6.8 Billion in 2022 and is set to exhibit growth at a CAGR of 4.5% in the forecast period from 2022 to 2032.
| Report Attribute | Details |
|---|---|
| Market Size Estimated Base Year Value (2021) | USD 6.5 Billion |
| Expected Market Share Value (2022) | USD 6.8 Billion |
| Market Anticipated Forecast Value (2032) | USD 10.5 Billion |
| Market Projected Growth Rate (2022 to 2032) | 4.5% CAGR |
The suspended ceiling system market supplies certain secondary ceilings which are suspended above the structural floor slab, which creates a void between the top of the suspended ceiling and the underside of the floor slab. Along with the concealment of the underside of the floor slab, this void can provide a useful space for the distribution of heating, ventilation, and air conditioning (HVAC) services creating a huge demand for suspended ceiling systems among the residents.
Plumbing and wiring services also get easy in such arrangements which have strengthened the suspended ceiling system market share in the last couple of years. As well as, the sales of suspended ceiling system is rising owing to its facility of providing a platform for the installation of smart speakers, light fittings, wireless antenna, CCTV camera, fire and smoke detectors, motion detectors, sprinklers, and others.
The void can also be used as an air ‘plenum’, in which the void itself forms a pressurized ‘duct’ to supply air or extract it from the occupied space below sighted to be the main factor driving the sales of the suspended ceiling systems. Easy access for equipment servicing by the removal of tiles, or through access panels can allow flexibility in the layout of spaces below and is expected to boost the demand for suspended ceiling systems in the global market.
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Changing interior and exterior architectural trends in the construction sector has propelled the use of innovative designing and sales of suspended ceiling system in the protective building materials market. The demand for suspended ceiling systems or panels for interior construction or for improving the overall aesthetics and acoustic insulation material is promising as well.
Innovation in the enhancement of aesthetics of walls and flooring materials such as carpets, floor and wall tiles, and coatings have undergone significant changes and advancements in terms of improving aesthetic features in the suspended ceiling system. It is anticipated to accelerate the sales of the suspended ceiling systems with the rise of disposable income among consumers.
Recovery of commercial construction across major countries has propelled new construction, as well as repair & maintenance, and renovation activities that have re-established the demand for suspended ceiling systems in many regions. Moreover, the adoption of interior solutions that exhibit better noise absorption features in offices, departmental stores, public utility areas, and educational institutions is considered to boost the sales of suspended ceiling systems in the next couple of years.
This in turn is expected to enhance the demand for suspended ceiling systems using eco-friendly and lightweight materials such as mineral wool, metal, and gypsum ceilings in the suspended ceiling system. The sales of suspended ceiling system under this category is also expected to rise so as to maintain and improve the indoor air quality and efficiencies of energy, water, and other resources.
Technological advancement in manufacturing low VOC material-based ceiling panels is likely to provide lucrative opportunities in the suspended ceiling system market share.
The main constraint for the wider demand for suspended ceiling systems is that it results in some loss of headroom (generally at least 100mm). However, there are also some types in which tiles are laid between parallel beams rather than a grid, and there is a wide range of different grid profiles and tile edge details that can be used to allow the grid to be exposed, flush, recessed, or concealed. Such innovations are expected to boost the sales of suspended ceiling systems in the local markets irrespective of some of their disadvantages.
Traditionally, North America and Europe have remained the dominant suspended ceiling system market for a very long time. However, the improving economic condition and rise in the population requiring housing facilities have turned the Asia Pacific into a more lucrative region for the suspended ceiling system market in recent years.
Acoustic insulation has played a vital role in the growth of the demand for suspended ceiling systems. Technological breakthroughs in this area have led to higher sales of suspended ceiling systems especially in North America and Europe regions over recent years. This trend is expected to continue further during the forecast period, reinforcing demand for suspended ceiling systems.
Some of the market participants operating in the global suspended ceiling system market share identified across the value chain include AWI, Knauf, SAS International, USG, Menards, Chicago Metallic Corporation, CertainTeed, Rockfon, Chicago Metallic, Saint-Gobain, Foshan Ron Building Material Trading, Grenzebach BSH, Guangzhou Tital Commerce, Haining Chaodi Plastic, Shandong Huamei Building Materials, New Ceiling Tiles, Odenwald Faserplattenwerk, Techno Ceiling Products, among the others.
Key market players are pitching the unique properties of suspended ceiling systems such as superior acoustic insulation properties, easy installation, dismounting, etc. to win over new customers and accelerate the sales of the suspended ceiling system.
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| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4.5% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Material, Type, Application, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; Asia-Pacific excluding Japan; Japan; Middle East and Africa |
| Key Countries Profiled | United States of America, Canada, Brazil, Argentina, Germany, United Kingdom, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC Countries, South Africa |
| Key Companies Profiled | AWI; Knauf; SAS International; USG; Menards; Chicago Metallic Corporation; CertainTeed; Rockfon; Chicago Metallic; Saint-Gobain; Foshan Ron Building Material Trading; Grenzebach BSH; Guangzhou Tital Commerce; Haining Chaodi Plastic; Shandong Huamei Building Materials; New Ceiling Tiles; Odenwald Faserplattenwerk; Techno Ceiling Products |
| Customization | Available Upon Request |
As per the record, the global suspended ceiling system market share is likely to grow at a rate of 4.5%.
Asia Pacific is set to lead the suspended ceiling system market in the forecast period.
The global suspended ceiling system market is set to exceed USD 10.5 Billion in 2032.
| Market Estimated Size (2022E) | USD 2,141.0 Million |
|---|---|
| Projected Market Valuation (2032F) | USD 3,427.1 Million |
| Value-based CAGR (2022 to 2032) | 4.8% |
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Suspended Ceiling System Market
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