ID: MRFR/CO/3349-HCR | 100 Pages | Published By Tejas Chaudhary on March 2023
Ceiling Tiles Market is projected to be worth USD 18,830 Million by 2030, registering a CAGR of 8.4% during the forecast period (2022 - 2030), The market was valued at USD 10.32 billion in 2021.
2022 - 2030
According to the global Ceiling Tiles Market analysis report, the current market is anticipated to acquire a market size of nearly USD 18,830 Million by the end of 2030. In 2021, The market size was projected to the account for USD 10.32 billion. Further, the worldwide market for Ceiling Tiles is projected to account for a market value of 8.40% CAGR from 2022 to 2030.
The global market for Ceiling Tiles is driving due to the rising construction of green buildings worldwide. Also, the demand for ceiling tiles is growing due to the rising use of eco-friendly gypsum in manufacturing. Moreover, the increasing demand for decorative interior and home improvement projects is estimated to enhance the market growth during the forecast period. The rising residential and non-residential construction activities across different parts of the world are further fuelling the market growth. The global Ceiling Tiles Market is projected to bring lucrative opportunities due to the growing infrastructure rehabilitation and repair activities and growing demand for low-maintenance building products.
The global Ceiling Tiles Market forecast report has segmented the market into product, application and installation. Further, the product segment has been classified into metal, mineral wool, wood, gypsum, and others. The application segment has been segregated into two major factors, i.e., non-residential and residential consumers. The installation segment has been categorised into glue-up and drop-in. The global market for Ceiling Tiles is spread across Asia-pacific, America, Europe, and the rest of the world. The American region is predicted to hold the largest market share during the research period.
People across the globe are suffering from Coronavirus, the global pandemic. It has adversely affected the operations of all the industries, except for the pharmaceutical industry. There has been a complete lockdown situation in almost every nation and people are forced to stay at their homes. The borders are sealed, which means no international travel is possible. The businesses are also being shut down. Many people were laid off from their workplaces. This has adversely affected the Ceiling Tiles industry as well.
It is being anticipated that post the Covid19 situation, Global Ceiling Tiles Market Share will grow tremendously. This owns to the fact that construction projects are increasing in both developed as well as developing countries. The construction of new commercial buildings, healthcare institutions, educational institutions, shopping complexes, and other buildings has led to a growth in demand for ceiling tiles.
The list of major global Ceiling Tiles Market Key Players is as follows:
The above-listed companies form joint ventures and partnerships for certain projects, mergers, and acquisitions to make technological advancements. They strive to develop end-products and services that are unique, cost-effective, environment-friendly, and proficient in working, and can deliver accurate solutions to the problems.
On August 31, 2018
A leading global manufacturer of ceiling products, grids, framings, and ceiling tiles in India, namely Techno Ceiling products, has launched an acoustic panels product, produced to form a unique green product with PET bottle waste.
The construction of green buildings is driving the market of ceiling tiles. The major key players are focusing on manufacturing products that are environment-friendly as well as give an aesthetic look to your interior. The use of Eco-friendly gypsum in manufacturing has boosted the demand for ceiling tiles.
People are readily investing a large chunk of their incomes in an aesthetic home with tasteful architecture. Ceiling tiles are highly in demand as they are used to create a false ceiling. These ceilings provide thermal insulation as well as enhance the acoustic capabilities of a room.
Manufacturing lightweight ceiling tiles require expensive raw materials. The major challenge faced by the global market is its high cost of installation. Also, the processed material is discharged into the environment without any treatment.
Value Chain Analysis
Ceiling tiles are popularly used in the commercial sector for the construction of offices, retail stores, hospitals, cinema halls, multiplexes, educational institutions, etc. these are cost-effective, durable, and flexible. These ceilings give an elegant and decorative look to the ambiance. Drop ceilings tiles and planks are mostly used in the construction of commercial buildings. Various multinational companies are working together in mergers or joint ventures to manufacture new products that will cause less harm to the environment and also are pocket-friendly to the consumer.
According to Ceiling Tiles Market Analysis, its market can be divided into various segments. These are based on product, based on installation type, and based on application.
Based on the products involved in the manufacturing of ceiling tiles, the market can be further divided into mineral wool, gypsum, wood, metal, and others. Mineral wool as a product type holds the largest market share. It is made up of fibers derived from slag, rock, and glass wool. It has noise reduction characteristics and is good for cinema halls, meeting halls, etc.
Ceiling tiles can be installed in two ways, namely, drop in and glue up. In the glue-up mode of installation, the ceiling tiles are attached to the surface of the roof with the help of an adhesive.
Based on the end-users the market can be further bifurcated into residential and non-residential consumers. Ceiling tiles are highly demanded in commercial and non-residential projects.
Ceiling Tiles Market Opportunities are increasing rapidly. It is leaving its mark in every part of the world. The regions of the operation of the Market include America, Europe, Asia-pacific, and the rest of the world.
American region, which includes the area of North America (the US and Canada) and Latin America, holds the largest market share and is expected to grow tremendously. This owns to the increase in demand for low-maintenance construction material. The US region is the largest consumer of the market.
The European region, which includes Germany, UK, France, Russia, and Italy, is also expanding and holds the second-largest market share. Increasing repair of the already existing infrastructures, construction of green buildings, and development of residential structures is fueling the growth of the ceiling tiles industry in this region.
Asia-Pacific (ASPAC) region, which includes China, Japan, India, Australia, and South Korea, will be growing tremendously throughout the forecasted period. This owns to the increase in residential as well as non-residential construction activities and changes in the lifestyle and standard of living.
The rest of the world region, which includes the region of the Middle East and Africa, is growing at a slower but constant rate owing to the lower economic development. The development of hotels and the booming tourism industry has prompted the growth of the ceiling tiles industry.
This Ceiling Tiles Market Outlook report includes the following elements:
This research report provides a comprehensive study about Ceiling Tiles industry Growth. It includes a thorough analysis of its usage and its market trends. As the new companies are entering the market they are bringing in better and eco-friendly products for residential as well as non-residential buildings. The construction of new commercial buildings, medical institutions, educational institutions, shopping malls, and other buildings has led to a growth in demand for ceiling tiles.
|Market Size||2030: USD 18830 Million|
|CAGR||8.4% (2022 to 2030)|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product, Installation Type, Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Armstrong World Industries, Inc. (U.S.), Knauf (Germany), Grenzebach BSH GmbH (Germany), Rockfon (U.S.), USG Corporation (U.S.), Saint Gobain S.A. (France), SAS International (U.K.), Odenwald Faserplattenwerk GmbH (Germany), Hunter Douglas (The Netherlands), Burgess CEP (U.K.)., Decorative Ceiling Tiles, Inc. (U.S.), VANS Gypsum Pvt Ltd (India), and The ReWall Company, LLC (U.S.).|
|Key Market Opportunities||· Increasing demand for low maintenance building products · Increasing repair and rehabilitation activities of existing infrastructure|
|Key Market Drivers||· Rise in home improvement projects and demand for decorative interior · Growing residential and non-residential construction activities in the region · Growing awareness about green construction among consumers|
Ceiling Tiles Market is projected to be worth USD 18,830 Million by 2030
Asia-Pacific (ASPAC) region will be growing tremendously throughout the forecasted period owing to the increase in residential as well as non-residential construction activities.
The global Ceiling Tiles Market Size will rise with a CAGR of 8.4% by the year 2030.
Ceiling tiles are widely used in the commercial sector for the construction of offices, retail stores, hospitals, cinema halls, multiplexes, educational institutions, etc.