The global Ceiling Tiles market size is expected to be worth around US$ 21.66 billion by 2030, according to a new report by Vision Research Reports.
The global Ceiling Tiles market size was valued at US$ 5.93 billion in 2020 and is anticipated to grow at a CAGR of 8.8% during forecast period 2021 to 2030.
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The growth in commercial construction activities, driven by the construction of new office spaces, malls, hospitals, and hotels, is expected to drive the market growth over the forecast period.
Ceiling tiles are primarily utilized for providing thermal & to buildings. The key materials used for making ceiling tiles such as metal, gypsum, mineral wool, and cork have high noise reduction capability, have less weight, and are much more environmentally friendly as compared to conventional materials used for making buildings.
An increase in demand for designing decorative interiors in the construction sector has led to a rise in the usage of advanced printing & designing technologies in the construction materials industry. Innovation for aesthetics enhancement of non-residential buildings is anticipated to open new opportunities for growth in terms of improving the energy efficiency of buildings, along with high acoustic insulation levels.
The industry players use different distribution channels such as wholesale selling, third-party agreements, direct supply, and also via online portals. The major players in the industry collaborate with distributors in different countries, for expansion of their geographic portfolio and serve a bigger customer radius.
Mineral wool segment inclusive of fiberglass, cast mineral fiber, and wet felt led the product segment and accounted for about 42% of the revenue in 2020. This is attributed to the superior characteristics such as less weight,recyclability, and thermal insulation, leading to an increase in product usage in several end-use industries.
Tin, aluminum, and steel are the commonly incorporated metals in manufacturing, offering a clean, hi-tech, and crisp interior display, and are available in several colors. Ceiling tiles made of powder-coated metals offer better finishing along with great corrosion resistance, thus driving the demand over the forecast period.
Gypsum accounted for a major share in revenue in 2020 and is expected to witness a CAGR of 8.8% over the projected period. This is attributed to the numerous benefits provided by these tiles, such as easy installation, less weight on structure, and easy repair and maintenance. These tiles are widely used in several modern office complexes in the U.S for aesthetical feature enhancement.
Rapidly increasing demand for different types of ceiling tiles is anticipated to increase the pressure on materials like gypsum, metals, and mineral wool. The market of ceiling tiles made up of other materials such as polycarbonate, wood, and PVC is expected to witness stabilized growth over the coming years, to decrease the utilization rate of commonly used materials.
Non-residential application led the ceiling tiles market and accounted for about 92% share in revenue in 2020. This is attributed to the rapidly rising construction activities of commercial buildings around the globe. Investments in several developing countries such as India, Brazil, and South Korea towards the development of the non-residential construction industry are expected to drive the market growth over the forecast period.
Ceiling tiles are widely used in several commercial places such as hospitality, healthcare, and retail in medical hallways, corridors, operation theatres, diagnostic centers, and clinics. These tiles are majorly used for highlighting of aesthetics of commercial and cultural buildings and for enhancing the thermal & acoustic insulation properties.
The residential application segment is expected to witness significant market growth over the coming years, due to the increase in expenditure towards repair and renovations in the housing sector. High growth in residential construction activities across the globe, coupled with rising trends of urbanization in several developing countries is expected to open new opportunities for industry growth over the forecast period.
An increase in the green buildings construction industry in several economies in Europe and North America is expected to lead to increased consumption of eco-friendly ceiling tiles. Several key players in the market are emphasizing on development of ceiling tiles made up of materials such as recycled wood and slag wool, which have very less manufacturing and processing costs and are also eco-friendly.
North America led the market and accounted for about 34% of the share in global revenue in 2020, on account of high product adoption in the non-residential construction industry. Technological innovations in this sector coupled with increasing needs for high thermal and acoustic insulation are expected to play a major role in the rising product demand in the region.
The U.S. accounted for a significant share in North America in 2020, owing to rising consumer preferences towards the renovation of houses, and increasing adoption of soundproof and decorative interior materials in several commercial buildings such as business centers, malls, clubs, and restaurants. The growth in the residential industry, primarily in single-family housing, is an important factor driving the market growth in the forthcoming years.
Europe accounted for a major share in 2020 and is expected to expand at a CAGR of 7.2% over the forecast period. This is attributed to rising product demand due to the presence of a well-established construction sector in the region, equipped with sustainable construction technologies.
The demand in Asia Pacific is expected to register a CAGR of 10.3% owing to rising consumer disposable income in several developing countries in the region, leading to the adoption of modern construction practices. Factors such as urbanization, population growth, and renovation activities in cultural and commercial places for increasing their aesthetical and acoustical properties are expected to drive product demand over the forecast period.
- AWI Licensing LLC
- USG Corporation
- Knauf Gips KG
- ROCKWOOL International A/S
- Odenwald Faserplattenwerk GmbH
- Saint-Gobain Gyproc
- SAS International
- HIL Limited
- Hunter Douglas
- KET Ceilings
- Product Outlook
- Mineral Wool
- Application Outlook
- Regional Outlook
- North America
- Asia Pacific
- South Korea
- Central & South America
- Middle East & Africa
- North America
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
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