The global false ceiling market size was estimated at USD 5.31 billion in 2018 and is expected to register a CAGR of 9.3% over the forecast period. The market is anticipated to be driven by growing commercial construction activities such as institutional buildings, office complexes, and healthcare facilities across the globe.
The global acoustic insulation market size was valued at USD 9.33 billion in 2015. Increasing awareness regarding noise pollution, health awareness and rising standard of living are likely to have a remarkable impact on the global acoustic insulation industry growth. It has been observed that the human health and efficiency is highly related to the noise level in the work environment, which highlights the importance of sound barriers.
Increasing concern for employee comfort levels has triggered the demand for noise cancelling materials in commercial buildings. Improved standard of living is also likely to drive the product demand in residential construction sector so as to achieve a peaceful atmosphere inside the home.
Some of the brands available in India in both the fields of false ceiling & acoustics has below mentioned financial & commercial details.
Armstrong world industries – U.S. Based, Net sales USD 3.5 billion (2019) Manufacturing units at (Wujiang, Jiangsu, Guangdong, Qingpu) China.
(Source: https://www.armstrongceilings.cn/commercial/en-cn/china-business.html
https://www.macrotrends.net/stocks/charts/AWI/armstrong-world- industries/revenue)
Knauf AMF – German Based, Net sales of 10 billion Euro (in 2019)
(Source: https://www.knauf.com/en/about-knauf/about-us/company-profile/)
Saint-Gobain – French multinational corporation, Net sales €42.6 billion
(Source: https://www.saint-gobain.com/en/finance/saint-gobain-figures)
Hunter Douglas – Dutch multinational corporation, Net Sales USD 3,633.9 million
It is a matter of thought that how these types of foreign brands established a brand image in India. China has played a smart mind game by pushing their products through brands as listed above, in India. For last some of the decades it has become a fashion to like, use & promote Foreign brands because they have played with the Indian minds to consider only MNC or a foreign brand during the brand selection while actual scenario is that these foreign companies are getting their product manufactured at China on low cost and selling it in India at very high cost with multi-fold profit. This in turn is draining India’s foreign currency in the form of import payments and delivering profits to their native country.
Foreign brands are being considered as the most innovative manufacturers and that no Indian company has the capability to produce the products as produced by foreign brands. But, the matter of fact is that great India talents are not able to produce their innovative ideas due to the lack of funds as the major market share is getting acquired by the foreign brands and the Indian companies are just compelled to stick to the existing products. It has also been observed that the foreign brands are just bluffing the Indians in the name of innovation while the truth is that they define innovation by slight change in the product’s features and huge increase in the price of the product.
Another interesting fact to be noted is that some of the products being sold by these companies do not stand up to the benchmark of quality as prescribed by Indian standards. These companies enjoy full support of their native country and are also reaping the advantages of an overseas company by skimming the market as a foreign brand image whereas the Indian companies are marginalized and pushed towards the end of the queue. It is the need of the hour for the Indians to think on this and also honour the thought of our honourable Prime Minister to promote local products and become vocal for local to make it global and ultimately boost our economy.
Dr. Virendra Kumar
Vertical Head & Research Analyst