Office & Retail Buildings to Fuel Ceiling Market Growth Through 2026

News provided by

May 03, 2022, 17:10 ET

CLEVELAND, May 3, 2022 /PRNewswire/ -- A new Freedonia Group analysis forecasts demand for ceiling products in the US to increase 3.1% annually to $2.4 billion in 2026. Office buildings will remain the leading outlet for ceiling products in the US and see some of the fastest growth rates among building types, boosted by increasing renovations attributable to telecommuting workers transitioning back to the office on part- or full-time bases.

Rising improvement spending on retail buildings, the second largest ceiling market, will also be a significant driver of gains. Additionally, strong growth in the construction of healthcare buildings – the need for which spiked during the pandemic and will continue to grow going forward due to the aging US population – will boost gains in that market.

Ceiling Tiles to Remain the Leading Product, While Specialty Products to See Faster Growth

Ceiling tiles and the suspension systems typically required for their installation together accounted for 85% of US ceiling product demand in 2021, and they are expected to continue driving demand gains through 2026. However, market growth in value terms will be boosted by rising demand for specialty ceiling products. Above average growth for these higher value products will be fueled by their expanding usage in commercial buildings where both acoustics and aesthetics are a priority, including in open plenum designs where ceiling tiles do not compete.

Want to Learn More?

Ceilings provides historical data for 2011, 2016, and 2021, and forecasts for 2026 and 2031 for ceiling product demand by product, market, and US region.

Ceiling demand is segmented into the following product types:

ceiling tiles (mineral fiber; fiberglass; metal; and wood, gypsum, and other materials including vinyl and polystyrene)
suspension systems (steel and aluminum and other materials, including vinyl)
specialty ceilings (clouds; baffles; stretch ceilings and other specialty ceiling products)

Ceiling tile demand is also segmented by performance grade (standard, good, better, and best). Ceiling tile pricing per square foot at the manufacturers' level is provided for the major material types.

The major ceiling markets analyzed are:

new commercial buildings
commercial building improvement and repairs
new residential buildings
residential building improvement and repairs

About the Freedonia Group - The Freedonia Group, a division of MarketResearch.com, is the premier international industrial research company, providing our clients with product analyses, market forecasts, industry trends, and market share information. From one-person consulting firms to global conglomerates, our analysts provide companies with unbiased, reliable industry market research and analysis to help them make important business decisions. With over 100 studies published annually, we support over 90% of the industrial Fortune 500 companies. Find off-the-shelf studies at https://www.freedoniagroup.com/ or contact us for custom research: +1 440.842.2400.

Press Contact:
Corinne Gangloff
+1 440.842.2400
[email protected]

SOURCE The Freedonia Group