Press release
Metal Ceilings Market Innovations and Future Prospects Current Industry Figures 2032
The metal ceilings market size was valued at $2.4 billion in 2020, and is estimated to reach $4.3 billion by 2032, growing at a CAGR of 4.8% from 2023 to 2032.Increasing population and urbanization are the major factors driving demand for commercial, and institutional buildings. This positively influences the market.
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Driving Demand:
Commonly Metal Ceilings are made of steel, aluminum, and galvanized iron. Steel provides exceptional durability and strength, making it ideal for heavy-duty applications. Moreover, aluminum offers lightweight properties and corrosion resistance, suitable for environments prone to moisture or humidity.
On the other hand, galvanized Iron provides robust protection against rust and corrosion, ensuring long-term durability in challenging conditions. In 2023, the steel segment accounted for the highest metal ceilings market share in terms of revenue; however, the aluminum segment is anticipated to grow with a higher CAGR during the forecast period.
The market is mainly driven by the growth in the commercial building sector, recovery in the construction industry, and increase in spending on building remodeling and renovation. However, fluctuation in raw material prices constrains the growth of the market. On the other hand, increasing demand for environmentally sustainable buildings is expected to have a positive impact on the metal ceilings market growth.
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Furthermore, key players in the metal ceilings market offer a wide range of Metal Ceilings to suit all kinds of needs. For instance, in November 2023, OWA UK introduces the System S 80 demountable metal ceiling raft-a stylish solution for concealing M&E installations while enhancing sound absorption. This customizable product offers versatility in sizes, shapes, and colors, with options for various material finishes. Its low-profile design and hidden hanging system make it ideal for open soffit interiors, providing easy access for maintenance. The System S 80's full metal construction ensures durability, making it suitable for a range of commercial applications.
Top Players:
Key companies profiled in the metal ceilings market report include Armstrong World Industries, Hunter Douglas, SAS International, ROCKWOOL Group (Rockfon), Knauf (USG Corporation), Saint-Gobain (CertainTeed), OWA Ceiling Systems, Gage Corporation International, Decoustics, and Tincpro Metal Industries.
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