Metal Ceilings Market to Reach $4.3 billion, Globally, by 2032 at 4.8% CAGR: Allied Market Research

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Apr 29, 2024, 07:29 ET

PORTLAND, Ore. , April 29, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Metal Ceilings Market by Material (Steel, Aluminum, Others), Application (Interior, Exterior), and End User (Commercial, Education, Transport, Retail, Healthcare, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the "metal ceilings market" was valued at $2.4 billion in 2020, and is estimated to reach $4.3 billion by 2032, growing at a CAGR of 4.8% from 2023 to 2032.

Prime determinants of growth

The growth of the global metal ceiling market is driven by increasing awareness of environmental issues, regulatory compliance requirements, and the aesthetic appeal and customization options offered by metal ceilings. However, fluctuating cost of metal used for manufacturing metal ceilings restricts the market growth. Moreover, a rise in popularity of sustainable development across developed and developing economies presents new opportunities in the coming years.

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Report coverage & details:

Report Coverage	Details
Forecast Period	2023–2032
Base Year	2022
Historical Period	2020-2032
Market Size in 2020	$2.4 billion
Market Size in 2032	$4.3 billion
CAGR	4.8 %
No. of Pages in Report	191
Segments covered	Material, Application, End User, and Region.
Drivers	Rising Urbanization Increasing investments in public infrastructures
Opportunities	Growing popularity of sustainable development
Restraints	Fluctuating cost of raw materials

The aluminum segment to maintain its leadership status throughout the forecast period

Based on material, the aluminum segment held the highest market share in 2020, accounting for more than half of the global metal ceiling market revenue, and is estimated to maintain its leadership status throughout the forecast period. This segment is projected to manifest the highest CAGR of 5.2% from 2023 to 2032. Aluminum is a light and robust material with high resistance to corrosion. These qualities of aluminum makes it highly desirable for manufacturing metal ceiling.

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The interior segment to maintain its leadership status throughout the forecast period

Based on application, the interior segment held the highest market share in 2020, accounting for nearly three-fifths of the global metal ceiling market revenue, and is estimated to maintain its leadership status throughout the forecast period. This segment is projected to manifest the highest CAGR of 5.2% from 2023 to 2032, owing to the rise in consumer awareness, growth in women's employment in developing nations, presence of large youth population, and increase in affordability.

The commercial segment to maintain its lead position during the forecast period

Based on end user, the commercial segment accounted for the largest share in 2020, contributing to nearly half of the global metal ceiling market revenue, and is projected to maintain its lead position during the forecast period. An increase in urbanization and rise in the working-class population drives the growth in the number of commercial buildings. However, the retail stores segment is expected to portray the largest CAGR of 6.5% from 2023 to 2032, owing to better aesthetics and energy saving capabilities of metal ceiling.

Asia-Pacific to maintain its dominance by 2032

Based on region, the Asia-Pacific held the highest market share in 2020, accounting for more than two-fifths of the global metal ceiling market revenue, and is estimated to maintain its leadership status throughout the forecast period. This segment is projected to manifest the highest CAGR of 5.3% from 2023 to 2032, owing to the rapid rise in urban population and increasing investments in infrastructure development.

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Leading Market Players: -

Armstrong World Industries
Hunter Douglas
SAS International
ROCKWOOL Group (Rockfon)
Knauf (USG Corporation)
Saint-Gobain (CertainTeed)
OWA Ceiling Systems
Gage Corporation International
Decoustics
Tincpro Metal Industries

The report provides a detailed analysis of these key players in the global metal ceiling market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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