New York, June 18, 2021 (GLOBE NEWSWIRE) – Ceiling Tile Market Snapshot: According to a comprehensive research report from Market Research Future (MRFR), “Ceiling Tiles Market Research Report by Product, Installation Type, Application and Region – Forecast to 2027The market size was estimated at $ 5.53 billion in 2020 and is expected to reach $ 10.8 billion by 2027, at a compound annual growth rate (CAGR) of 8.4% from 2021 to 2027.
The growth of the commercial construction industry, driven by the development of new office complexes, institutional buildings, healthcare facilities and shopping centers around the world, is expected to drive the market. The market is expected to grow in response to growing demand for sound and thermal insulation, increasing disposable income in developing countries, and changing consumer preferences towards aesthetics of homes and offices. During the projection period, the use of sustainable and creative building solutions incorporating the use of environmentally friendly materials for ceilings, floors and walls is expected to drive market momentum.
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Several large and small suppliers of raw materials for mineral fibers, metals, gypsum, fiberglass, plastics and wood are present in the market. Upstream and downstream integration tactics are used by manufacturers to gain quality control over the raw materials used to make the tiles, as well as to increase their customer base by controlling distribution networks.
Green building practices should be promoted by raising awareness of the use of environmentally friendly building materials in industrialized countries such as North America and Europe, as well as in major developing countries such as ‘Asia Pacific. In addition, the increased acceptance of building material reuse and recycling by key companies is expected to drive the market growth in the coming years.
The major players in the global ceiling tiles market include –
- Armstrong World Industries Inc. (United States)
- USG Corporation (United States)
- Knauf (Germany)
- Grenzebach BSH GmbH (Germany)
- Hunter Douglas (Netherlands)
- Rockfon (United States)
- SAS International (United Kingdom)
- Decorative Ceiling Tiles Inc. (US)
- OdenwaldFaserplattenwerk GmbH (Germany)
- Burgess CEP (United Kingdom).
- VANS Gypsum Pvt Ltd (India)
- Saint Gobain SA (France)
- The ReWall Company LLC (United States)
Browse the In-Depth (100 Pages) Ceiling Tiles Market Research Report
Impact of COVID-19 on the Global Ceiling Tiles Market
The market saw a sharp drop in demand during the COVID-19 pandemic crisis when construction activity around the world came to a halt.
For the purpose of this study, the global Ceiling Tiles market has been divided on the basis of products, installation types, and applications.
On the basis of the product, the global ceiling tile market has been segmented into mineral wool, metal, gypsum, wood, and others. Among these, mineral wool captured the largest market share. Mineral wool includes fibers derived from slag, rock and glass wool, offers noise reducing properties and is often used in commercial spaces exposed to a noisy environment. Gypsum is the second type of product on the market. Recently, new environmentally friendly building materials based on gypsum have appeared, which are likely to increase the demand for gypsum products.
Based on the type of installation, the global ceiling tile market has been segmented into bonding and installation. As part of the bonding, the ceiling tiles are attached directly to the ceiling surface using an adhesive.
On the basis of applications, the global ceiling tile market has been segmented into residential and non-residential. Non-residential applications dominate the market and are expected to grow at the fastest CAGR during the forecast period. Ceiling tiles are used in a variety of sub-applications in non-residential construction areas such as corporate offices, retail and grocery stores, health centers and educational institutions. They can also be installed in cafeterias, hotels, gymnasiums and airport terminals. Although non-residential applications are likely to make a substantial contribution throughout the forecast period, the residential sector makes a substantial contribution to the market.
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Geographically, the global ceiling tiles market has been divided into four major regions of North America, Europe, Asia-Pacific, and the rest of the world.
North America held the largest market share, followed by Europe and Asia-Pacific. The growing demand for low maintenance construction products is propelling the market in North America. The United States is the largest contributor to the global and North American ceiling tile market. Strong growth in residential and commercial structures in the United States is expected to drive market demand in the region. Additionally, consumer demand for green buildings and continued investment in commercial real estate have positively impacted the growth of the market.
Europe is the second largest market for ceiling tiles. The increased repair and rehabilitation of existing infrastructure has great market potential in the future.
During the forecast period, Asia-Pacific is expected to grow at the fastest CAGR. The biggest markets in the Asia-Pacific region are China, Japan, India and Singapore. The growing residential and non-residential development activity in the region is propelling the industry forward. In addition, the growing consumer awareness of green construction is expected to open new avenues for market expansion.
The Middle East region is expected to contribute significantly to the rest of the world over the projection period, due to changing lifestyles and hotel growth. This is due to the increase in government initiatives targeting the tourism industry in these regions.
Market segmentation covered by research:
Information report, by product (mineral wool, metal, gypsum, wood and others), by type of installation (insertion and gluing), by application (residential and non-residential) and by region (North America, Europe, Asia – Pacific and rest of the world)
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