Artificial Intelligence
Wooden False Ceiling Market is Anticipated to Garner a Value of USD 168.86 Million by Growing at a CAGR of 3.3% During 2022-2028; Growing Adoption of Modern Architectural Designs and Rising Urbanization to Propel Market Growth
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Westford USA, Feb. 23, 2023 (GLOBE NEWSWIRE) — The wooden false ceiling market in the Asia Pacific region is predicted to gain the largest market share during the forecast period owing to the increasing urbanization and expanding construction activities in the region. Additionally, a significant change in the worldwide landscape has been brought about by rapid urbanization, a rise in disposable income, and an improvement in living standards, with previously defined towns now being transformed into enormous metropolitan cities. People work in high-paying positions as a result, which boosts their income and enables them to spend on luxury goods. Consumers now spend a sizeable portion of their income on home décor accessories as part of this trend, which has spread to the housing sector. This trend’s predilection for designer artificial or wooden false ceilings is a key component.
SkyQuest found during research that many homeowners are preferring to improve existing living space rather than look for a new home owing to the availability of artificial home décor items. In a recent poll, it was noticed that 54% of homeowners said they had renovated a portion of their house in the previous year. Also, as of 2023, there were 537,1754 remodeling enterprises in the US, a 3.5% increase from 2022.
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False or Fake ceilings are a certain way to raise the room’s elegance and attractiveness while also offering a number of practical advantages. In addition to helping to save energy, they hide things like air conditioning ducts, pipelines, and electrical wires. These ceilings enhance the architectural appeal of the house in addition to offering convenience in the form of increased acoustics and thermal insulation.
Prominent Players in Wooden False Ceiling Market
- Armstrong (US)
- Madrid Inc (US)
- Hunter Douglas (Netherland)
- CertainTeed (US)
- Rulon International (US)
- Geometrik (Canada)
- 9Wood (US)
- DerakoNetherlandsonal (Netherland)
- Lindner Group (Netherlands)
- Lambri (Netherland)
- Architectural Components Group (US)
- Rulon International
- Architectural Components Group
- Spigogroup
- ASI Architectural
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Non-Residential Segment to Dominate the Market Growth Owing to Its Increasing Usage
The non-residential segment is estimated to dominate the market growth by acquiring the largest market share during the forecast period. The growth of the segment can be attributed to the increasing demand for non-residential buildings across the world. Wooden false ceilings are frequently utilized in a wide range of commercial settings, spanning retailing, entertainment, and healthcare facilities, as well as in lobbies, operating rooms, clinics, diagnostic facilities, and sanitation facilities. Further, the growing investment by governments and key market players in these buildings is anticipated to boost segment growth.
SkyQuest observed that to improve sanitation in a nation of 1.31 billion people, the federal government of India has spent more than $30.1 billion over the last seven years. Around 101 million toilets have been constructed as a major component of this endeavor, particularly in rural regions.
Furthermore, the Asia Pacific region remains a prominent player in the wooden false ceiling market by gaining the largest market share during the forecast period. The building and construction business in the area is increasingly utilizing more colors, various perforated patterns, and a variety of materials, such as timber materials, to improve the aesthetic aspect of structures. In commercial and educational buildings where acoustic comfort or transmission is important, many architects and designers are also emphasizing the use of natural ventilation ceilings and open floor plan design elements. As a result of these designs, the market for wooden false ceilings is anticipated to rise.
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Panel Segment to Gain Substantial Market Share Thanks to its Increasing Usage
Based on the wood type the wooden false ceiling market is bifurcated into hollow blocks, boards, and panels. Among these, the panels segment is estimated to gain substantial market share during the forecast period. Usually made of veneers, strands, particles, or fibers, panels are joined with a synthetic or other glue that is hardened under pressure and heat. The properties of the panel were influenced by the characteristics of the raw wood, the glue, the chemicals, and the complexities of the manufacturing process. Owing to all these qualities the usage of panels is increasing in decore items and the construction of ceilings for homes and entertainment zone.
Moreover, the wooden false ceiling market is estimated to witness noteworthy growth during the projected time frame owing to the rise in augmented reality technology and significant enhancement in buyer experience. Every day, the wooden false ceiling gets more contemporary and modular. The best utility ceilings are being made by manufacturers using cutting-edge technology to finish some of the most difficult designs. False ceiling augmented reality-based software and programs are being used by people to give their customers the finest shopping experience possible. Consumers can choose the false ceiling’s dimensions, style, and material online without visiting a provider’s store. All of these activities are possible with the use of AR and smartphones. There are many augmented reality apps for interior design and hence all these factors are anticipated to support market expansion.
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Key Developments in the Wooden False Ceiling Market
- Armstrong Global Industries and Subzero Engineering declared a strategic alliance for the Americas region in June 2021. A high-strength, flexible, and speedy-to-install data center containment and structural ceiling system have been created by Subzero Engineering and AWI.
- Weyerhaeuser formally confirmed in April 2022 a US$ 265 million agreement with a fund run by Campbell Global to purchase 80,800 acres of premium timberlands in North and South Carolina. The acquisition is anticipated to increase the company’s Southern Timberlands segment’s harvest tonnes per acre and portfolio-leading cash flow.
- As announced on October 2020, CertainTeed will provide a new commercial ceilings resource geared toward architects and designers.
- A five-year framework partnership agreement was signed by Kronospan and the Luxembourg Institute of Science and Technology in January 2022. (LIST). Environmental protection, sustainability, and activities including the production of wood-based panels for a Ph.D. collaborative training program are given top priority in this Partnership Framework Agreement.
Key Questions Answered in the Wooden False Ceiling Market Research Report
- What are the wooden false ceiling market’s anticipated market size and CAGR?
- What are the main forces influencing the worldwide market and the biggest obstacles?
- Which market research segments are thoroughly examined?
- Which are the most well-known companies that are successfully competing in the international market?
- How many segments and sub-segments are covered in the study and which segment is anticipated to dominate the global wooden false ceiling market?
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