Ceiling Tiles Market Will Expected to Reach USD 14.06 Billion, Expanding at a CAGR of 6.6% By 2030 | Reports and Data
The global ceiling tiles market size is expected to reach USD 14.06 Billion in 2030 registering a CAGR of 6.6% over the forecast period, according to a latest report by Reports and Data. Major factors driving market revenue growth are increased demand for ceiling tiles in the construction of green buildings, as well as increased need for replacing old or damaged tiles.
The growing emphasis on interior and external design in commercial, industrial, and other businesses is driving the supply-demand curve for ceiling tiles upward around the world. Ceiling tile producers are thriving as the building and construction sector continues to grow at an exponential rate. While laminated ceiling tile providers have registered a rise in demand, sales are expected to continue to grow in the coming years as demand from the residential, commercial, hospitality, and other sectors grows.
Demand for diverse interior and exterior decoration elements has increased significantly in recent years due to rapid improvements in the building and construction industry. While rising housing values and continuously rising GDI in emerging economies encourage people to invest in home design, remodeling, and renovation, ceiling tile manufacturers are responding by introducing new products that may be used in a variety of settings. As a result, the market for ceiling tiles is rapidly evolving.
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- Top Companies The key players of this industry include Armstrong World Industries, USG Corporation, Hunter Douglas, SAS International, CertainTeed, Rockfon, Odenwald Faserplattenwerk GmbH, Knauf, Saint-Gobain Gyproc, and Georgia-Pacific.
Some Key Highlights From the Report
- Mineral wool, gypsum, and metal are the type segments in the ceiling tiles market. Mineral wool is the most widely used material in this business, accounting for nearly 40.8 percent of total market share.
- Commercial applications segment accounted for the largest market share in 2020. This is due to the fast-expanding commercial building construction activity all around the world.
- Because of significant product adoption in the non-residential building industry in the North America region, the ceiling tiles market revenue from North America was the largest in 2020.
- In 2020, Europe accounted for a significant share of the market, and it is predicted to grow at a CAGR of 7.2 percent over the forecast period. This is owing to the presence of a well-established construction sector in the region, which is equipped with sustainable construction technologies, which is driving up product demand.
- Due to increased consumer disposable income in various emerging economies in the region resulting in the adoption of new construction practices, ceiling tiles market in Asia Pacific is projected to register double digit CAGR over the forecast period.
- The global ceiling tiles market is expected to grow in the coming years due to the increasing demand for construction and renovation of commercial and residential spaces. The growth is driven by factors such as the rise in construction activities, increasing disposable income of consumers, and changing consumer preferences for aesthetics and functionality.
- Ceiling tiles come in various materials such as mineral fiber, metal, gypsum, and wood, among others. The mineral fiber segment is expected to be the largest due to its cost-effectiveness, ease of installation, and wide range of designs.
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Material Type Outlook (Revenue, USD Billion; Volume, Sq Mt; 2019 – 2030)
- Mineral Fiber
Property Type Outlook (Revenue, USD Billion; Volume, Sq Mt; 2019 – 2030)
Form Outlook (Revenue, USD Billion; Volume, Sq Mt; 2019 – 2030)
End-use Outlook (Revenue, USD Billion; Volume, Sq Mt; 2019 – 2030)
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
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Key Questions answered by the Report:
- What is the expected year-on-year growth of the Micro Injection Molded Plastic Market during the forecast period?
- What key trends are expected influence revenue growth of the market going ahead?
- Which region is expected to account for largest revenue share over the forecast period?
- Which key companies are profiled in the report?
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