Ceiling Tiles Market is Estimated to Grow at a CAGR of 8.8% by 2028|Key Industry Participants USG Corporation, ROCKWOOL International A/S

 

Ceiling Tiles Market Growth & Trends

The global ceiling tiles market size is expected to reach USD 11.66 billion by 2028, according to a new report by Grand View Research, Inc. It is projected to register a revenue-based CAGR of 8.8% during the forecast period. 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 & acoustic insulation 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.

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Ceiling Tiles Market Report Highlights

• The mineral wool segment is expected to witness the fastest growth from 2021 to 2028, expanding at a CAGR of 9%, on account of superior characteristics such as less weight, acoustic insulation, recyclability, and thermal insulation
• Non-residential application dominated the market in 2020 and is expected to reach USD 10.7 billion by 2028, owing to high investments towards commercial space development in several developing countries such as India, Brazil, and South Korea
• Asia Pacific is estimated to witness the fastest growth of 10.3%, owing to rising consumer disposable income in several developing countries in the region, leading to the adoption of modern construction practices
• The demand is expected to be hampered owing to an outbreak of the COVID-19 pandemic in 2020. Governments in major economies such as U.S., India, South Korea, U.K., Germany, and Italy, restricted several ongoing construction projects to prevent transmission of the virus
• The market consists of several global and regional players providing a diversified range of products, thus leading to high competition in the industry. Strategies followed by key players include mergers and acquisitions, and vertical integration to gain a competitive edge in the market

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Ceiling Tiles Market Segmentation

Grand View Research has segmented the global ceiling tiles market based on product, application, and region:

Ceiling Tiles Product Outlook (Volume, Million Square Meters; Revenue, USD Million, 2017 - 2028)

• Mineral Wool
• Metal
• Gypsum
• Others

Ceiling Tiles Application Outlook (Volume, Million Square Meters; Revenue, USD Million, 2017 - 2028)

• Non-Residential
• Residential
• Industrial

Ceiling Tiles Regional Outlook (Volume, Million Square Meters; Revenue, USD Million, 2017 - 2028)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK.
  • France
  • Italy
  • Spain
  • Russia
  • Poland
  • Belgium
  • Austria
  • Switzerland
• Asia Pacific
  • China
  • India
  • Japan
  • Indonesia
  • South Korea
• Central & South America
  • Brazil
• Middle East & Africa

List of Key Players of Ceiling Tiles Market

• AWI Licensing LLC
• USG Corporation
• Knauf Gips KG
• ROCKWOOL International A/S
• Odenwald Faserplattenwerk GmbH
• Saint-Gobain Gyproc
• SAS International
• BYUCKSAN
• HIL Limited
• Hunter Douglas
• KET Ceiling

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.