CLICK TO VIEW INDUSTRY MARKET RESEARCH FOR BUSINESS LEADERS, STRATEGISTS, DECISION MAKERS Table of Contents 2 List of Tables & Charts 3 Study Overview 4 Sample Text, Table & Chart 5 Sample Profile, Table & Forecast 6 Order Form & Corporate Use License 7 About Freedonia, Custom Research, Related Studies, 8 Ceilings US Industry Study with Forecasts for 2018 & 2023 Study #3204 | August 2014 | $5300 | 253 pages The Freedonia Group 767 Beta Drive www.freedoniagroup.com Cleveland, OH • 44143-2326 • USA Toll Free US Tel: 800.927.5900 or +1 440.684.9600 Fax: +1 440.646.0484 E-mail: info@freedoniagroup.com Study #3204 August 2014 $5300 253 Pages Ceilings US Industry Study with Forecasts for 2018 & 2023 Table of Contents Executive Summary Market EnvironmenT General.......................................4 Macroeconomic Overview................5 Demographic Trends......................9 Consumer Trends.........................13 Consumer Spending..................14 Consumer Financing..................16 Building Construction..................19 Nonresidential Buildings............22 New.....................................23 Nonresidential Building Stock..25 Nonresidential Building Floor Space.........................27 Improvements & Repairs.........30 Residential Buildings................32 Housing Completions..............33 Housing Stock.......................38 Improvements & Repairs.........42 Historical Market Trends...............43 Pricing......................................46 Regulatory & Environmental Considerations..........................49 Regulatory Considerations..........49 Energy Efficiency Considerations51 Indoor Air Quality....................53 Recycling................................55 Sound Control..........................55 Wet Felt...............................76 Fiberglass.............................77 Metal...................................79 Other Materials......................81 Demand by Market....................83 Suspension Systems.....................86 Demand by Material..................87 Demand by Market....................89 Specialty/Other Ceiling Products....91 Demand by Type.......................92 Baffles.................................93 Clouds..................................94 Stretch Ceilings.....................95 Wire & Attachments...............96 Trim & Other.........................96 Demand by Market....................97 MARKETS General................................... 100 Nonresidential.......................... 103 New..................................... 106 Improvements & Repairs.......... 109 Demand by Building Type........ 111 Institutional....................... 112 Office................................. 115 Commercial & Lodging.......... 119 Other Nonresidential............. 123 Residential............................... 125 New..................................... 129 Improvements & Repairs.......... 130 REGIONS OVERVIEW General.....................................59 Area Demand..............................61 Competitive Ceiling Coverings Outlook.....................63 World Ceiling Outlook..................65 Foreign Trade.............................67 PRODUCTS General.....................................68 Ceiling Tile................................71 Demand by Material..................73 General................................... 133 Regional Demographic & Economic Activity................ 134 Economic Outlook................... 135 Population Patterns................ 138 Construction Activity.............. 141 Housing Trends......................... 144 Regional Ceiling Demand............ 147 Northeast.............................. 150 New England....................... 152 Middle Atlantic.................... 153 Midwest................................ 155 Click here to purchase online Page East North Central................ 159 West North Central............... 161 South................................... 162 South Atlantic..................... 165 East South Central............... 166 West South Central............... 167 West..................................... 169 Mountain............................ 172 Pacific................................ 174 INDUSTRY STRUCTURE General................................... 177 Industry Composition................ 178 Market Share............................ 182 Vertical/Horizontal Integration... 188 Product Development & Manufacturing..................... 191 Marketing & Distribution............ 193 Cooperative Agreements............. 195 Company Profiles Acoustic Ceiling Products........... 198 Acoustic Solutions.................... 200 All Noise Control....................... 202 Armstrong World Industries........ 204 Barrisol Normalu....................... 209 Ceilings Plus............................ 211 CLIPSO Productions................... 213 Empire West............................. 215 Gordon Incorporated................. 216 Halstead International............... 219 Hunter Douglas......................... 221 Laqfoil Limited......................... 223 Lindner Group.......................... 224 Newmat USA............................ 226 9Wood Incorporated.................. 227 Norton Industries...................... 229 pinta elements......................... 231 ROCKWOOL International............ 234 Rulon Company......................... 236 Saint-Gobain............................ 238 Shanker Industries.................... 240 (continued on following page) Order now, click here! Study #3204 August 2014 $5300 253 Pages Ceilings US Industry Study with Forecasts for 2018 & 2023 Table of Contents Company Profiles (continued from previous page) Sky Factory.............................. 242 Sound Concepts........................ 243 Sound Seal............................... 244 Steel Ceilings........................... 246 Synergistic Solutions................. 248 Tectum Incorporated................. 249 USG Corporation....................... 250 List of Tables/Charts EXECUTIVE SUMMARY 1 Summary Table.......................3 MARKET ENVIRONMENT 1 Macroeconomic Indicators........9 2 Population & Households.......13 3 Personal Consumption Expenditures......................16 4 Consumer Financing Environment, 2003-2013......19 5 Building Construction Expenditures......................22 6 Nonresidential Building Construction Expenditures....25 7 Nonresidential Building Stock27 8 Nonresidential Building Floor Space........................30 9 Nonresidential Building Improvement & Repair Expenditures......................31 10 Residential Building Construction Expenditures....33 11 New Housing Indicators.........38 12 Housing Stock by Type...........41 Cht Year of Construction of Housing Stock, 2013............41 13 Residential Improvement & Repair Expenditures..........43 14 Ceiling Market, 2003-2013......45 Cht Ceiling Market, 2004-2013......46 15 Ceiling Pricing......................48 Cht Ceiling Pricing, 2003-2013.....49 OVERVIEW 1 Ceiling Demand by Area.........63 PRODUCTS 1 Ceiling Demand by Product.....70 Cht Ceiling Demand by Product, 2013.....................71 2 Ceiling Tile Demand by Material.........................74 Cht Ceiling Tile Demand by Material.........................75 3 Wet Felt Ceiling Tile Demand...77 4 Fiberglass Ceiling Tile Demand79 5 Metal Ceiling Tile Demand......81 6 Other Material Ceiling Tile Demand.......................83 7 Ceiling Tile Demand by Market...........................86 8 Suspension System Demand by Material.............89 9 Suspension System Demand by Market...............91 10 Specialty & Other Ceiling Product Demand by Type.......93 11 Specialty & Other Ceiling Product Demand by Market....99 MARKETS 1 Ceiling Demand by Market.... 102 Cht Ceiling Demand by Market, 2013................ 103 2 Nonresidential Building Ceiling Demand by Product............ 106 3 New Nonresidential Building Ceiling Demand by Product 108 4 Nonresidential Building Improvement & Repair Ceiling Demand by Product 111 Click here to purchase online Page 5 Nonresidential Building Ceiling Demand by Building Type... 112 6 Institutional Ceiling Demand by Product & Application.... 115 7 Office Ceiling Demand by Product & Application........ 119 8 Commercial & Lodging Ceiling Demand by Product & Application................... 122 9 Other Nonresidential Ceiling Demand by Product & Application................... 125 10 Residential Ceiling Demand by Product............ 128 11 New Residential Ceiling Demand by Product............ 130 12 Residential Improvement & Repair Ceiling Demand by Product....................... 132 REGIONS 1 Gross Domestic Product by Region........................ 138 2 Population by Region.......... 141 3 Construction Expenditures by Region........................ 144 4 Regional Housing Indicators147 5 Ceiling Demand by Region.... 149 Cht Ceiling Demand by Region, 2013................ 149 6 Northeast Ceiling Demand.... 152 7 Midwest Ceiling Demand....... 159 8 South Ceiling Demand.......... 164 9 West Ceiling Demand........... 172 INDUSTRY STRUCTURE 1 US Ceiling Product Sales for Selected Producers, 2013.... 181 Cht US Ceiling Market Share, 2013...................... 182 2 Selected Cooperative Agreements...................... 197 Order now, click here! Study #3204 August 2014 $5300 253 Pages Ceilings US Industry Study with Forecasts for 2018 & 2023 Gains will be driven by a rebound in nonresidential building construction, a recovery in improvement and repair activity, and growing interest in better performing ceiling products. US demand to rise 7.3% annually through 2018 Demand for ceiling products in the US is forecast to advance 7.3 percent per annum through 2018 to $2.5 billion. A rebound in nonresidential building construction will drive gains as the ceiling market continues its recovery from declines following the 2007-2009 economic recession. In addition to new nonresidential building construction, a recovery in improvement and repair activity and growing interest in ceiling products that offer improved performance and aesthetics will boost value demand through the forecast period. Key ceiling tile segment to post strong growth Through 2018, ceiling tile demand is expected to post strong growth of 6.6 percent per year to $1.4 billion, supported by an improving building construction market. Furthermore, efforts by manufacturers to improve the aesthetics of ceiling tiles, including more colors, varied perforation designs, and the use of an increasing variety of materials such as wood and metal, will boost value demand. In addition, many architects and designers have moved toward open plenum ceilings and open floor plan spaces in office and institutional buildings, where sound control is important for productivity. While building features such as open plenum ceilings serve as a check on ceiling tile area demand, these US Ceiling Demand, 2018 ($2.5 billion) Suspension System Specialty & Other Products designs boost tile value demand as more costly ceiling tiles with improved noise reduction properties are often selected so as to offer similar sound quality to full wall-to-wall ceilings, but with less overall ceiling coverage. Specialty & other ceiling products to be fastest growing segment Specialty ceiling products are forecast to see the most rapid growth in demand through 2018, reaching $543 million on 11 percent annual advances. The frequency of use of specialty ceiling products, including clouds, baffles, and stretch ceilings, has grown since the Click here to purchase online Page Tile early 2000s, and it is expected to continue to do so through the forecast period. For example, design trends that call for specialty material ceiling tiles will support rising demand for specialty trims to conceal metal ceiling grids and improve the aesthetics of the ceiling. Additionally, trends toward spaces that are more open to the architectural ceiling will increase the installation of products such as clouds or baffles where wall-towall ceilings may have previously been installed. Increasingly stringent and widespread regulations on seismic design will also continue to boost demand as more builders will install additional bracing products for suspended ceiling systems. Copyright 2014 The Freedonia Group, Inc. Order now, click here! Study #3204 August 2014 $5300 253 Pages Ceilings US Industry Study with Forecasts for 2018 & 2023 Sample Text, Table & Chart TABLE VI-8 SOUTH CEILING DEMAND (million dollars) Item 2003 2008 2013 2018 2023 South Construction (bil $) 341.8 423.9 373.6 599.5 824.0 $ ceiling/000$ construction 1.49 1.59 1.67 1.51 1.36 markets South Ceiling Demand 510.0 674.0 623.5 906.01121.0 By Subregion: Improvements & Repairs South Atlantic 281.1 356.1 316.0 455.0 561.5 Demand for ceiling products in the nonresidential improvement and East South Central 70.5 90.2 83.5 119.5 144.5 repair market grew strongly between 2003 and 2008, following trends West South Central 158.4 227.7 224.0 331.5 415.0 in improvement and repair construction expenditures over the same time By Market: period. Demand reached a peak of $1.2 billion in 2008. In the wake Nonresidential 453.9 616.6 575.1 832.01022.5 of declining nonresidential building improvement and repair spending New 138.7 206.3 138.6 258.5 334.5 following the 2007-2009 economic recession, spending declined to a low Improvement & Repair 315.2 410.3 436.5 573.5 688.0 point of $1.1 billion in 2010 before beginning to recover through 2013, Residential 56.1 57.4 48.4 74.0 98.5 when spending exceeded the 2008 level for the first time. Through the New 18.7 15.5 11.0 20.8 27.3 forecast period, demand is expected to see continued strong growth as Improvement & Repair 37.4 41.9 37.4 53.2 71.2 improvement and repair spending and the stock of existing buildings continues to expand. Nonresidential improvement and repair ceiling % South 35.5 36.2 35.9 36.8 37.0 demand is projected to reach $1.6 billion in 2018 on 5.3 percent Ceiling annual Demand 1435 1860 1735 2465 3030 increases. sample table Ceiling tile demand made up three-fifths of all nonresidential improvement and repair ceiling expenditures in 2013. Ceiling tiles are often replaced in nonresidential buildings when they become damaged due to moisture, impact, or breakage when they are removed for access to the ducts and electrical work that they conceal. Furthermore, ceiling tiles are regularly replaced as part of routine building improvement projects. These factors boost ceiling tile improvement and repair spending. Ceiling tile demand in the nonresidential improvement and repair market is projected to reach $970 million in 2018 on 5.2 percent annual growth. Rising interest in various value-added options for tile, including materials like wood or metal, custom colors and designs, and improved noise reduction coefficients (NRC) and light reflective values (LR values), will boost value demand even as design trends move toward less overall coverage of the architectural ceiling. sample text CHART VII-1 US CEILING MARKET SHARE, 2013 ($1.7 billion) Suspension system demand followed similar patterns as tile between 2003 and 2013, boosted further by significant price increases over 214 Copyright 2014 The Freedonia Group, Inc. O th e rs 1 3 .8 % Click here to purchase online Page sample chart M a rke t L e a d e rs 8 6 .2 % 39.2% A r m s tr ong 26.9% U SG 9.5% C er tainT eed 6.3% 4.3% R O C KF O N H unter D oug las Order now, click here! Study #3204 August 2014 $5300 253 Pages Ceilings US Industry Study with Forecasts for 2018 & 2023 Sample Profile, Table & Forecast TABLE IV-2 CEILING TILE DEMAND BY MATERIAL (million dollars) Item 2003 2008 2013 2018 2023 Nonres Bldg Construction (bil 2009$)386.7 441.7 290.6 426.5 485.0 $ ceiling tile/000$ construction 2.38 2.45 3.39 3.19 3.39 Ceiling Tile Demand (mil 2009$)1069.01123.0 852.01068.01183.0 price deflator (2009=100) 86.1 96.3 115.7 127.4 139.0 Ceiling Tile Demand 920.01081.0 986.01360.01645.0 Wet Felt 793.0 907.0 810.01093.01291.0 Fiberglass 62.5 75.2 70.7 99.0 120.0 Metal 31.1 50.1 54.3 86.5 120.5 Wood & Other 33.4 48.7 51.0 81.5 113.5 $/square foot 0.48 0.55 0.67 0.74 0.82 Ceiling Tile Demand (mil sq ft) 1909 1983 1482 1829 2001 sample table COMPANY PROFILES Ceilings Plus Incorporated 6711 East Washington Boulevard Los Angeles, CA 90040 323-724-8166 http://www.ceilingsplus.com Annual Sales: $30 million (estimated) Employment: 150 (estimated) Key Products: metal and wood ceiling panels sample profile Ceilings Plus is a producer of metal and wood ceilings, walls, and related products. The Company is privately held. The Company participates in the US ceilings industry through the manufacture of metal and wood ceiling panels for commercial and institutional applications. Ceilings Plus’ ceiling panels are made from a non-combustible aluminum core with a variety of metal or wood finishes in a wide range of sizes and designs. Ceiling panels are sold under the RADIANS, ILLUSIONS, MULTIPLES, RUNWAYS, BARZ, MIRRA, and PLANX brand names. RADIANS curved ceiling panels from the Company are designed to be lightweight, acoustical, and fully downward accessible. These products are made in widths ranging from 1 to 4 feet and lengths from 2 to 10 feet, and convex, concave, wave, and dome styles. The Company’s ILLUSIONS modular ceiling panels are integrated with lighting and other ceiling-mounted fixtures, provide full accessibility to above-ceiling services, and are suitable for installation in concealed suspension systems. These panels are made in 1- to 4-foot widths and 2- to 10-foot lengths in square, rectangle, triangle, parallelogram, trapezoid, rhombi, pentagon, hexagon, and other shapes. STUDY COVERAGE This Freedonia study, Ceilings, presents historical data (2003, 2008, 2013) as well as forecasts for 2018 and 2023 for ceiling demand by product, market and region of the US. The study also assesses key market environment factors, details industry structure, evaluates company market share and profiles 28 competitors in the US ceiling industry. MULTIPLES modular panels from Ceilings Plus encompass lay-in flat, tegular, and snap-in models with lengths and widths ranging from Copyright 2014 The Freedonia Group, Inc. 211 Click here to purchase online Page Order now, click here! 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Signature Signature Corporate Use License Agreement The Freedonia Group, Inc. 767 Beta Drive • Cleveland, OH • 44143-2326 • USA • Web site: www.freedoniagroup.com Tel US: 800.927.5900 or +1 440.684.9600 • Fax: +1 440.646.0484 • e-mail: info@freedoniagroup.com Page 7 INDUSTRY MARKET RESEARCH FOR BUSINESS LEADERS, STRATEGISTS, DECISION MAKERS Other Studies Precast Concrete Products US demand for precast concrete products is forecast to rise 6.4 percent per year to $12.2 billion in 2018. The dominant structural and architectural building component segments will grow the fastest, as they rebound from previous steep declines. The residential market will see above average gains in precast concrete roofing tiles, siding and fencing. This study analyzes the $8.9 billion US precast concrete products industry, with forecasts for 2018 and 2023 by product, market and US region. The study also evaluates company market share and profiles industry competitors. #3244.................January 2015.................. $5200 Bricks, Blocks & Pavers Demand for bricks, blocks and pavers in the US is forecast to rise 8.8 percent per annum from a low 2013 base to $8.9 billion in 2018. Bricks, typically made of clay, will see the most rapid growth of any product, driven by a rebound in new housing construction. Pavers will be the second fastest growing type, driven in part by interest in “green” building materials such as permeable pavers. This study analyzes the $5.8 billion US brick, block and paver industry, with forecasts for 2018 and 2023 by product, material, market, application and US region. The study also evaluates company market share and profiles industry players. #3236............... November 2014................. $5200 World Insulation Through 2018, global demand for insulation will rise 5.0 percent annually to 24.9 billion square meters of R-1 value. The Asia/Pacific region will grow the fastest, driven by building construction activity and manufacturing and industrial output. Foamed plastic insulation will lead value gains. This study analyzes the current world industry, at 19.5 billion square meters of R-1 value, with forecasts for 2018 and 2023 by material, market, world region, and for 21 countries. The study also evaluates company market share and profiles industry players. #3206.................October 2014.................. $6500 World Housing About The Freedonia Group The Freedonia Group, Inc., is a leading international industry market research company that provides its clients with information and analysis needed to make informed strategic decisions for their businesses. Studies help clients identify business opportunities, develop strategies, make investment decisions and evaluate opportunities and threats. Freedonia research is designed to deliver unbiased views and reliable outlooks to assist clients in making the right decisions. Freedonia capitalizes on the resources of its proprietary in-house research team of experienced economists, professional analysts, industry researchers and editorial groups. Freedonia covers a diverse group of industries throughout the United States, China and other world markets. Industries analyzed by Freedonia include: Automotive & Other Transport • Chemicals • Construction & Building Products • Consumer Goods • Energy & Petroleum • Industrial Components • Health Care & Life Sciences • Machinery & Equipment • Metals, Minerals & Glass • Packaging • Plastics & Other Polymers • Security • Services • Textiles & Nonwovens • Water Treatment Click here to learn more about Freedonia Freedonia Custom Research Freedonia Custom Research delivers the same high quality, thorough and unbiased assessment of an industry or market as an industry study. Since the research initiative is based upon a company’s specific needs, companies harness Freedonia’s research capabilities and resources to answer unique questions. When you leverage the results of a Freedonia Custom Research engagement, you are able to obtain important answers to specific questions and issues associated with: mergers and acquisitions, new product launches/development, geographic expansion, entry into new markets, strategic business planning, and investment and funding decisions. Freedonia Custom Research is ideal for companies seeking to make a strategic difference in the status quo and focus on future business growth. Working side by side with clients, Freedonia’s team is able to define a research project that is customtailored to answer specific questions and provide the basis from which a company can make informed business decisions. World construction of new housing will reach 61.3 million units in 2018 on 2.9 percent yearly advances. The Asia/Pacific region will own the most new housing units, while the Africa/Mideast housing stock region will grow the fastest. Multifamily housing construction will continue to outpace that of single-family types. This study analyzes the two billion unit world housing industry, with forecasts for 2018 and 2023 for housing stock and new housing units by type, world region, and for 22 countries. The study also considers economic trends, demographics and other market factors. Click here to learn more about Custom Research #3184................... July 2014..................... $5800 Siding Demand for siding in the US is forecast to increase 7.1 percent annually to 103.5 million squares in 2018, valued at $12.1 billion. Brick, concrete and stone siding will grow the fastest, driven by their durability and low maintenance, especially for new homes built in the South. Vinyl siding will remain dominant but will continue to lose market share. This study analyzes the 73.5 million square US siding industry, with forecasts for 2018 and 2023 by material, market and US region. The study also evaluates company market share and profiles industry participants. Click here for complete title list Click here to visit freedoniagroup.com #3144.................. March 2014.................... $5300 Page 8 The Freedonia Group, Inc. 767 Beta Drive • Cleveland, OH • 44143-2326 • USA • Web site: www.freedoniagroup.com Tel US: 800.927.5900 or +1 440.684.9600 • Fax: +1 440.646.0484 • e-mail: info@freedoniagroup.com