LONDON, Dec. 18, 2014 /PRNewswire/ -- US demand to rise 7.2% annually through 2018
Demand for ceiling products in the US is forecast to advance 7.2 percent per annum through 2018 to $2.5 billion. A rebound in nonresidential building construction will drive gains as the ceiling market continues its recovery from declines following the 2007-2009 economic recession. In addition to new nonresidential building construction, a recovery in improvement and repair activity and growing interest in ceiling products that offer improved performance and aesthetics will boost value demand through the forecast period.
Ceiling tiles to offer good growth opportunities
Among product types, ceiling tiles accounted for 57 percent of sales in 2013. Through 2018, ceiling tile demand is expected to see strong growth, supported by an improving building construction market. Furthermore, efforts by manufacturers to improve the variety of aesthetics available in ceiling tiles, including colors, perforation designs, and an increased variety of materials such as wood and metal will boost value demand for ceiling tiles through the forecast period. In addition, many architects and designers have moved toward open plenum ceilings and open floor plan spaces in office and institutional buildings, where sound control is important for productivity. While building features such as open plenum ceilings reduce ceiling tile area demand, these designs boost tile value demand as more costly ceiling tiles with improved noise reduction properties are often selected.
Specialty ceilings to be fastest growing segment
Specialty ceiling products are forecast to see the most rapid growth in demand through 2018, reaching $540 million on 11 percent annual advances. The frequency of use of many specialty ceiling products, including clouds, baffles, and stretch ceilings, has grown since the early 2000s and is expected to continue to do so through the forecast period. For example, design trends that call for specialty material ceiling tiles will support rising demand through 2018 for specialty trims to conceal metal ceiling grids, which improve the aesthetics of the ceiling. Additionally, trends toward spaces that are more open to the architectural ceiling will increase the installation of products such as clouds or baffles where wall-to-wall ceilings may have previously been installed. Increasingly stringent and widespread regulations on seismic design will also continue to boost demand as more builders will install additional bracing products for suspended ceiling systems.
Nonresidential market dominates ceiling demand
The nonresidential market dominated US ceiling demand in 2013 and is projected to hold 93 percent of the total market in 2018. Ceiling products are used most intensively in nonresidential buildings, where they are preferable to drywall ceilings as they offer sound control properties while still allowing easy access to ducts and wiring. Wall-to-wall suspended ceilings offer additional advantages of enhancing the energy performance of buildings by diffusing natural light and allowing for more efficient HVAC performance. Furthermore, in many spaces, including commercial buildings and transportation hubs, ceiling products offer an opportunity to add visual interest and improved aesthetics. In the residential market, ceiling products are not heavily used, but are found most often in common spaces in multifamily buildings, finished basements, and higher end homes.
Study coverage
This upcoming industry study, Ceilings, presents historical demand data (2003, 2008 and 2013) plus forecasts for 2018 and 2023 by product, market and US region. The study also considers market environment variables, evaluates company market share and profiles 28 US industry players.
Download the full report: https://www.reportbuyer.com/product/2355859/
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/us-ceilings-market-300012057.html
SOURCE ReportBuyer
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