Global ceiling tiles market expected to generate revenue of USD 50.93 billion by the end of 2024, growing at a CAGR of around 10.8% between 2018 and 2024. The global ceiling tiles market is anticipated to witness substantial growth over the forecast period on account of increasing demand from the construction industry.
The report covers forecast and analysis for the ceiling tiles market on a global and regional level. The study provides historical data from 2015 to 2017 along with a forecast from 2018 to 2024 based on revenue (USD Million). The study includes drivers and restraints for the ceiling tiles market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the ceiling tiles market on a global level.
In order to give the users of this report a comprehensive view on the ceiling tiles market, we have included competitive landscape and analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein product type segment and application segment are benchmarked based on their market size, growth rate, and general attractiveness.
The report provides company market share analysis in order to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new application launch, agreements, partnerships, collaborations & joint ventures, research & development, application and regional expansion of major participants involved in the market on the global and regional basis. Moreover, the study covers price trend analysis and product portfolio of various companies according to the regions.
The study provides a decisive view on the ceiling tiles market by segmenting the market based on product type, application, and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2017 to 2024. Based on product type, the market is segmented into mineral wool, metal, gypsum, and others. On the basis of application, the market is segmented into commercial, healthcare, educational, industrial, and others. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa which is further fragmented into major countries including the U.S., the UK, Germany, France, China, Japan, India, and Brazil. This segmentation includes demand for ceiling tiles market based on product type and application in all the regions and countries.
The report also includes detailed profiles of end players such as Armstrong World Industries, Inc., SAS International, ROCKFON, Grenzebach BSH GmbH, Saint-Gobain S.A., Odenwald Faserplattenwerk GmbH, USG Corporation, and Knauf among others.
This report segments the global ceiling tiles market as follows:
Global Ceiling Tiles Market: Product Type Segment Analysis
Global Ceiling Tiles Market: Application Segment Analysis
Global Ceiling Tiles Market: Regional Segment Analysis
Ceiling tiles market is anticipated to witness positive growth over the forecast period due to high demand from numerous end-use industries. Ceiling tiles or ceiling panels are secondary ceilings attached underneath an existing ceiling. They are primarily used for enhancing the acoustics of a building and improving it's thermal insulation. The environmental and financial advantages of using ceiling tiles are expected to drive the market forward. The growing environmental awareness among the population has consequently increased the demand for ceiling tiles as the raw materials used are recyclable. The waste ceiling tiles are returned to the manufacturer for recycling. This acts as a key driver for the ceiling tiles market growth as the world looks at sustainable options. Ever expanding construction business and infrastructure development projects across the globe are expected to aid the growth of the ceiling tiles market. However, fluctuation in the price of the sources of energy such as crude oil (used in the manufacturing process) could prove to be a major restraint for the ceiling tiles market. The availability of substitutes to ceiling tiles such as asphalt and mortar could curb the growth of the market. On the other hand, use of ceiling tiles in the green building projects is expected to unwrap new opportunities for the ceiling tiles market.
The ceiling tiles market can be segmented in terms of product type which is likely to be divided into mineral wool, metal, gypsum, and others (wood, plastics, etc.). Mineral wool accounted for most of the global revenue share and is expected to witness a significant gain over the next six years owing to its superior properties such as high performance, fire safety, noise reduction, and thermal insulation. Biodegradable gypsum tiles are expected to spur the overall market growth within the forecast period.
The ceiling tiles market is segmented based on applications such as commercial, healthcare, educational, industrial, and others. Among the applications, the commercial sector is the largest sector. The major investment in infrastructure development in emerging economies is a major driving factor which is propelling the growth of the commercial sector.
North America accounted for most of the global market share for the ceiling tiles and is expected to grow and lead the construction market in the region. The Asia Pacific is expected to be the fastest growing sector owing to the growing population and increase in the construction business in the region especially in countries like India and China. The Middle East & Africa ceiling tiles market is expected to witness lucrative growth over the forecast period as a result of increased infrastructure and construction activities in the region. In addition, environmental awareness and increasing disposable income in the Middle East is expected to aid the growth of the global ceiling tiles market further.
The key players in this industry are Armstrong World Industries, Inc., SAS International, ROCKFON, Grenzebach BSH GmbH, Saint-Gobain S.A., Odenwald Faserplattenwerk GmbH, USG Corporation, and Knauf, among others.