Press release
Cellings Tiles Market: Remodeling & Renovation Activities to Remain Key Trends Influencing the Market Growth || Key Players: Saint-Gobain S.A., USG Corporation, Knauf, Techno Ceiling Products
Surging awareness about the requirement of home décor, growing GHDI across emerging countries, and elevating home prices, have been prompting homeowners in making huge investments in home remodeling and renovating activities. Robust spending by individuals has been observed in the renovation activities associated with suspended ceiling panels. Growth in remodeling and renovation activities are likely to remain key trends affecting growth of the global ceiling tiles market.
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Emerging countries are making enormous investments in the development of their commercial spaces, manufacturing plant construction, institutional buildings, and public infrastructure. For example, demonetization has led the Indian government to trim their fiscal deficit, thereby encouraging builders and consumers to make robust investments in real estate. Such developments will further rub off on demand for ceiling tiles in the forthcoming years.
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Mounting Demand for Commercial Spaces to Drive Demand in APEJ
Demand for commercial buildings has witness a steep rise over the past couple of years. Developing nations in Asia-Pacific excluding Japan (APEJ) such as India, China, and South Korea, as well as those in the Middle East have been making heavy expenditure on commercial spaces, including manufacturing plant construction, and institutional buildings.
India will continue to be at the forefront of APEJ’s construction industry, with infrastructure accounting for bulk share of the construction activities. Reduced interest rates have encouraged consumers in the country to make investments in real estate.
Manufacturers of ceiling tiles are eyeing achievement of business expansion via implementation of key strategies that include product innovation and acquisitions. Geometrix™, USG Boral’s specialty ceiling panels, designed for high-end design projects, hold promise to enable realization of most complex ceiling designs. Produced from lightweight aluminum, Geometrix 3D metal-based specialty ceiling panels lend unexpected dimension and unique perspective to ceiling spaces. Geometrix has also been made available with the high recycled content (HRC), by this global leading ceilings & plasterboard joint venture.
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Development of application-specific and innovative products has remained a key strategy among prominent manufacturers of ceiling tiles, in order to attain strong market position and realize optimum business expansion. For example, Rockfon had lauched a new ceiling tile made from stone wool suitable for filming, music, and live performances, under the brand – Cinema Black, for applications in commercial spaces such as auditoriums, theatres, and restaurants.
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