“The ceiling tiles market is projected to grow at a CAGR of 6.2% from 2017 to 2022, in terms of value.”
The ceiling tiles market is estimated to be USD 7.31 billion in 2017 and is projected to reach USD 9.88 billion by 2022, at a CAGR of 6.2% between 2017 and 2022. The increasing demand for ceiling tiles in building & construction projects is one of the most significant factors projected to drive the growth of the ceiling tiles market. Superior properties of ceiling tiles such as improved sound absorption capability and easy installation and recyclability are also contributing to the growth of the ceiling tiles market. However, ceiling tiles are easily susceptible to mold breeding when exposed to water for a long duration of time. This, in turn, is acting as a restraint to the growth of the ceiling tiles market.
“Based on material type, the mineral fiber segment is projected to lead the ceiling tiles market during the forecast period, in terms of value and volume.”
Mineral fiber ceiling tiles, also known as mineral wool ceiling tiles, are used in various commercial buildings, such as schools, hospitals, and retail centers. Mineral fiber ceiling tiles are cost-effective as well as easy to install, repair, and maintain. These tiles are also recyclable in nature and have a low carbon footprint. The increasing adoption of mineral fiber ceiling tiles in non-residential construction projects is expected to drive the growth of the mineral fiber segment of the ceiling tiles market.
“The non-residential end user segment of the ceiling tiles market is projected to grow at the highest CAGR during the forecast period, in terms of value and volume.”
Ceiling tiles manufacturers are increasingly focused on the development of tiles for non-residential buildings, such as offices, institutes, hospitals, gymnasiums, cinema theaters, retail stores, auditoriums, and museums. The increasing demand for aesthetically appealing ceiling tiles from the non-residential construction sector is projected to drive the growth of the non-residential end user segment of this market.
“The ceiling tiles market in the Asia Pacific region is projected to grow at the highest CAGR between 2017 and 2022, in terms of value and volume.”
The ceiling tiles market in the Asia Pacific region is projected to grow at the highest CAGR during the forecast period, in terms of value and volume. This growth can be attributed to the increasing demand for ceiling tiles from the building & construction industry in Asia Pacific countries. Initiatives undertaken by governments of various Asia Pacific countries to promote the development of smart cities is also contributing to the growth of the ceiling tiles market in the Asia Pacific region.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted as follows:
- By Company Type- Tier 1 - 10%, Tier 2 - 25%, and Tier 3 - 65%
- By Designation- C level - 10%, Director level - 30%, and Others - 60%
- By Region- Asia Pacific - 45%, North America - 20%, Europe - 15%, South America - 11%, and Middle East & Africa - 9%
This report provides a comprehensive analysis of key companies listed below:
• Armstrong World Industries (US)
• USG Corporation (US)
• Hunter Douglas (Netherlands)
• SAS International (UK)
• CertainTeed (US)
• Saint-Gobain Gyproc (France)
• Rockfon (Denmark)
• Odenwald Faserplattenwerk GmbH (Germany)
• Knauf (Germany)
• Georgia-Pacific (US)
This report covers the ceiling tiles market and forecasts the size of the market till 2022. The report includes the segmentation of the ceiling tiles market based on material type, property type, end user, and region. Porter’s five forces analysis and key market dynamics such as drivers, restraints, challenges, and opportunities influencing the growth of the ceiling tiles market have been discussed in the report. The report also provides company profiles and competitive benchmarking of major players operating in the ceiling tiles market.
Benefits of Buying the Report:
The report is expected to help market leaders/new entrants in the ceiling tiles market in the following ways:
- This report segments the ceiling tiles market and provides the closest approximation of revenues for the overall market and its subsegments across different verticals and regions.
- The report helps stakeholders understand the pulse of the market and provides information on key drivers, restraints, challenges, and opportunities of the ceiling tiles market.
- This report is also expected to help stakeholders understand their competitors and gain insights into improving their position in the ceiling tiles market.
- The competitive landscape section includes an ecosystem of competitors and detailed information on new product developments, expansions & investments, agreements/contracts, and mergers & acquisitions.