CLEVELAND, Ohio
,
May 4, 2022
(press release)
–
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: The major ceiling markets analyzed are:
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