US Ceiling Product Market to Expand 3.1% Annually Through 2026

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May 04, 2022, 09:37 ET

CLEVELAND, May 4, 2022 /PRNewswire/ -- The Freedonia Group forecasts demand for ceiling products in the US to increase 3.1% annually to $2.4 billion in 2026. Market advances will be driven by:

a rebound in commercial building construction – bolstered by increased renovations in office and institutional buildings – following the declines of 2020 and 2021 due to the COVID-19 pandemic
design trends favoring enhanced acoustics and aesthetics in commercial buildings, resulting in a shift away from drywall and building plaster to ceiling tiles and specialty products
increased market penetration of specialty products, including greater use of these products in conjunction with open plenum designs in retail buildings
rising use of decorative wood and metal ceiling tiles in residential renovation projects – on ceilings as well as on walls and other surfaces

However, the market will continue to be restrained by the popularity of drywall and building plaster in residential applications, as well as in some commercial applications.

Supply Chain Disruptions Exacerbated Price Increases in 2021, Boosting Value Demand

In 2021, pandemic-driven supply chain disruptions and other factors led to a sharp increase in average prices for ceiling products in 2021, boosting value demand growth in that year. In addition to shifts in the product mix toward higher value products, ceiling product prices were also affected by changes in the cost of raw materials such as metals, mineral fiber, wood, fiberglass, and plastics, many of which saw above average pricing growth during the pandemic. Going forward, pricing growth is expected to moderate from the elevated levels of 2021, causing a deceleration in ceiling product demand growth in value terms, despite demand in area terms accelerating over the same period.

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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