Ceiling Tiles Market Size Worth $10.08 Billion By 2025

Monday 20 November 2017, Amsterdam

The global ceiling tiles market is expected to reach USD 10.08 billion by 2025, growing at a CAGR of 9.5%, according to a new report by Grand View Research, Inc. Increasing construction of office spaces worldwide is likely to boost the usage of building materials including mineral wool, metal, and gypsum panels by the end of 2025. 

Rise in the working population group, since the past few years has led to an increased construction spending in key Asia Pacific countries including China, Vietnam, Bangladesh, Singapore, India, Thailand, and Malaysia. Construction of new offices across the globe is estimated to peak in the future.

This scenario is likely to reflect in developing countries including China, Russia, and India. Furthermore, currently rising foreign investments coupled with government initiatives in these countries is projected to boost the construction of business centers and IT parks in the recent future. These factors are considered to influence the consumption of construction materials including ceiling tiles and hence boost their market growth.

Emerging regions especially Latin America and Middle East & Africa are expected to depict above average industry growth owing to development of the hotel sector as a result of increasing government initiatives regarding the tourism industry in these regions