The global acoustical ceiling market size is set to grow at a promising rate owing to the extensive utilization in the construction sector, observes Fortune Business Insights™ in an upcoming report, titled, “Acoustical Ceiling Market Size, Share & Industry Analysis, By Product type (Mineral fiber, Gypsum, Others), By Application (Non-Residential, Residential, Industrial) and Regional Forecast, 2020-2027.” Acoustic ceilings help in maintaining the acoustic quality of the room while making it sound proof. Growing applications of these ceilings in several infrastructural projects are expected to drive their demand globally.
The knee-jerk reaction to the global shutdown of production units amid the COVID-19 era has adversely affected the already stumbling construction sector. Asia Pacific being the major producer of raw materials and the epicenter of the pandemic at the same time, the business world is gradually leading toward an ironic slowdown.
At Fortune Business Insights™, we are offering a clear view on key areas that are helping the market survive this period of crisis. Through our detailed market reports, we provide knowledge to comprehend the situation and take necessary actions.
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Highlights of the Report:
- In-depth research on market drivers, restraints, key trends, and opportunities
- Study of core competencies of major players and their market share to anticipate the degree of competition
- Tangible insights into the regional dynamics influencing the market
- Employing bottom-up procedure to arrive at the overall size of the market by estimating revenues of key players
Drivers & Restraints-
Increasing Office Buildings in Financial Capitals across Countries to Drive Growth
The increasing demand for noise cancellation in buildings, such as educational institutes, studios, theatres, and conference halls in offices, is projected to drive the growth of the global acoustical ceiling market. In addition, the rising number of office spaces in financial capitals across countries is strengthening the demand for sound proof office buildings at prime locations, which is estimated to further enhance growth. However, high initial capital investments required to implement acoustic panels are expected to restrain growth.
Regional Insights-
High Scope of Infrastructural Growth in Developing Countries to Help Asia Pacific Dominate
Asia Pacific is set to dominate the global acoustical ceiling market owing to the high scope of infrastructural growth in the developing economies. Several initiatives taken by governments in countries including India and China are expected to aid growth to the industry in the region. For instance, in 2015, the Government of India announced the Smart Cities Mission for the renewal and retrofitting of urban areas across the country.
The market in North America is anticipated to exhibit potential growth in the forecast time frame. The rising inclination toward aesthetic lifestyle and the increasing disposable income in the region is expected to flourish the growth of the acoustical ceiling market.
Competitive Landscape-
Launching Innovative Products to Help Key Players Gain Large Customer Base
The leading players operating in the global acoustical ceiling market are focused on tailoring the solutions as per the consumer demand. They are developing innovative products that are effective, as well as provide aesthetic appeal. This will help them gain a new customer base. For instance, in June 2019, Armstrong Ceiling Solutions introduced ACOUSTIBuilt seamless acoustic ceilings. These ceilings showcase the appearance of a drywall but include the properties of an acoustic ceiling.
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Industry Developments-
- In October 2017, Rockfon inaugurated its manufacturing facility in Marshall County, Mississippi (U.S.) for the production of stone wool acoustic ceilings. This has helped the company to meet the growing demand for acoustically advanced stone wool ceiling products.
- In April 2015, Hunter Douglas entered into a supply contract for delivering its window blinds and ceiling systems to the Burj Khalifa tower in Dubai. The agreement helped the company to enhance its reputation and business reach in the Middle East.
A List of Key Manufacturers Operating In the Global Acoustical Ceiling Market Report:
- USG Corporation
- AVI Licensing Company
- Beijing New Building Material Group Co., Ltd.
- Saint Gobain
- Asona Ltd.
- Knauf Inulation
- USG Boral
- Guangdong Liyin Acoustics Technology Co., Ltd.
- G&S Acousitics
- Others
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