Ceiling Tiles Market Analysis:
The global ceiling tiles market size is predicted to grow at an 8.2% CAGR between 2017- 2023, states the recent Market Research Future (MRFR) analysis. Ceiling tiles, or ceiling panels, simply put, are lightweight construction materials that are used for covering the ceiling. They offer thermal insulation and are generally designed for improving the acoustics and aesthetics of rooms.
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Various factors are propelling the global ceiling tiles market share. According to the recent MRFR report, such factors include the increasing number of home renovation and improvement projects, especially in developed countries, demand for low maintenance building products, growing demand for decorative interiors, rising commercial construction activities like healthcare facilities, office complexes, and institutional buildings worldwide, and increasing disposable income. Additional factors adding market growth include changing consumer lifestyle, demand for acoustic and thermal insulation, and the accessibility of innovative & advanced construction solutions which need low maintenance and are durable.
On the flip side, fluctuating raw material cost, the availability of substitutes such as mortar tiles and asphalt, and the impact of the ongoing COVID-19 pandemic are factors that may impede the global ceiling tiles market growth over the forecast period.
Market Segmentation
The MRFR report highlights an inclusive segmental analysis of the global ceiling tiles market based on products, application, and installation type.
By products, the global ceiling tiles market is segmented into wood, gypsum, metal, mineral wool, and others. Of these, the mineral wool segment will lead the market over the forecast period.
By application, the global ceiling tiles market is segmented into non-residential and residential. Of these, the non-residential segment will dominate the market over the forecast period and at a high CAGR.
By installation type, the global ceiling tiles market is segmented into glue up and drop in.
Regional Analysis
Based on the region, the global ceiling tiles market report covers the growth opportunities and recent trends across the Asia Pacific (APAC), North America, Europe, & the Rest of the World (RoW). Of these, North America will have the lions share in the market over the forecast period. Growing demand for building products that need low maintenance, strong development in residential and commercial structures in the US, sustained investments in the commercial real estate, and preference of consumers for green buildings are adding to the global ceiling tiles market growth in the region.
The global ceiling tiles market share in Europe is predicted to hold the second-largest share over the forecast period. Rising rehabilitation and repair activities of the existing infrastructure, growing demand for the availability of sustainable and innovative construction solutions, simple installation techniques, stringent regulations on particulate emissions, and the presence of established construction industry are adding to the global ceiling tiles market growth in the region.
The global ceiling tiles market in the APAC region is predicted to grow at the highest CAGR over the forecast period. Growing non-residential and residential construction activities, and consumers' growing awareness about green construction are adding to the global ceiling tiles market growth in the region. India, China, and Japan have the utmost share in the market.
The global ceiling tiles market in the RoW is predicted to have sound growth over the forecast period. The development of hotels, changing lifestyles, and growing initiatives by the government regarding the tourism sector is adding to the global ceiling tiles market growth in the region.
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Competitive Landscape
Leading contenders profiled in the global ceiling tiles market report include The ReWall Company, LLC (U.S.), VANS Gypsum Pvt Ltd (India), Decorative Ceiling Tiles, Inc. (U.S.), Burgess CEP (U.K.), Hunter Douglas (The Netherlands), OdenwaldFaserplattenwerk GmbH (Germany), SAS International (U.K.), Saint Gobain S.A. (France), USG Corporation (U.S.), Rockfon (U.S.), Grenzebach BSH GmbH (Germany), Knauf (Germany), and Armstrong World Industries, Inc. (U.S.).
About Market Research Future:
Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
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