Global Ceiling Tiles Market Size to Reach USD 15.48 Billion in 2032 | Emergen Research

Vancouver, Oct. 25, 2023 (GLOBE NEWSWIRE) -- The global ceiling tiles market size was USD 8.32 Billion in 2022 and is expected to register a steady revenue CAGR of 18.6% during the forecast period, according to latest analysis by Emergen Research. Rising adoption of thermal and acoustic insulation is the key factor driving market revenue growth.

Ceiling tiles equipped with advanced insulation properties have emerged as a crucial solution in recent years as energy efficiency and noise reduction have become the main concerns in building design. These tiles help to regulate indoor temperatures by providing effective thermal insulation, thereby reducing the need for excessive heating or cooling systems. In addition, ceiling tiles play a vital role in enhancing acoustic comfort by absorbing sound waves, thus reducing noise levels within a space. This is particularly vital in environments, such as offices, schools, and healthcare facilities where concentration and privacy are crucial.

Moreover, increasing awareness and implementation of stringent building codes and regulations pertaining to energy efficiency and noise control are other factors driving revenue growth of the market. For example, Section 11.5.4. of the updated American National Standards Institute/Green Building Initiative document, which outlines the green globes assessment protocol for commercial buildings, encompasses guidelines pertaining to sound absorption specifications in various spaces within office buildings, educational institutions, and healthcare facilities. Specifically, areas designated for patient care in healthcare facilities and resident care in senior living establishments are mandated to feature ceilings with a minimum NRC of 0.90. Alternatively, if a portion of the required sound absorption is provided through elements, such as walls and flooring, a maximum RT of 0.50 seconds is stipulated.

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However, supply chain disruptions and escalating raw material costs are key factors, which could restrain market revenue growth. In addition, the surge in raw material costs, including metals, gypsum, and other key components used in the manufacturing of ceiling tiles, has exerted upward pressure on production expenses. Manufacturers are grappling with the challenge of balancing quality with cost-effectiveness, potentially leading to higher prices for consumers. These combined factors are influencing the profit margins of industry players and, in turn, could restrain market revenue growth.

Scope of Research

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Major Companies and Competitive Landscape

The global ceiling tiles market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective ceiling tiles. Some of the major companies included in the global ceiling tiles market report are:

• Armstrong World Industries 
• Saint-Gobain S.A
• USG Corporation
• Rockwool A/S
• Knauf Ceilings Holding GmbH
• SAS International
• Odenwald Faserplattenwerk GmbH
• Hunter Douglas
• Certainteed
• Rulon International
• Ceilume
• Pinta Acoustic Inc.
• KET Ceilings
• Aerolite Ceiling Systems
• Nuvocotto

Strategic Development

• On 1 April 2021, AURELIUS Equity Opportunities SE & Co. KGaA successfully concluded its acquisition of Armstrong Ceiling Solutions, encompassing the ceiling tiles and grids enterprises in various European countries. These regions collectively constitute the Armstrong Ceiling Solutions Markets, comprising Austria, Estonia, Germany, Ireland, Italy, Latvia, Lithuania, Portugal, Spain, Turkey, and the UK.
• On 21 January 2021, L&W Supply, a leading distributor of interior construction supplies and building materials in the U.S., declared that all its branches in Colorado and Wyoming now stock USG Corporation's ceiling products. This inclusion of USG's range of ceiling offerings represents a noteworthy advancement for both entities in the Colorado market. Moreover, this collaboration extends access for customers in the region to USG's comprehensive line of ceiling products, encompassing acoustical panels, baffles, and wood panels.

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Some Key Highlights from the Report

• The gypsum segment is expected to account for largest revenue share in the global ceiling tiles market over the forecast period. This is due to increasing need of gypsum tiles, which offer exceptional fire resistance properties, making these a crucial choice for enhancing safety in buildings. This feature is of paramount importance in commercial and public spaces where compliance with stringent fire safety regulations is mandatory. In addition, gypsum ceiling tiles are known for their versatility and ease of installation. These can be easily cut and fitted to accommodate various ceiling layouts and designs, saving time and labor costs.
• The non-acoustic segment is expected to register steadily fast revenue growth rate in the global ceiling tiles market over the forecast period. This is because these tiles are valued for their cost-effectiveness, providing an economical alternative for spaces where acoustic performance is not a critical concern. In addition, these tiles offer a practical solution for areas such as private offices, storage rooms, or utility spaces, where the primary focus may be on aesthetics and functionality. Moreover, non-acoustic ceiling tiles come in a wide array of styles, patterns, and finishes, allowing for creative and customized design choices to match various interior themes.
• The Asia Pacific market accounted for largest revenue share in the global ceiling tiles market in 2022 due to increasing construction activities in countries such as China, Japan, and India. Notably, in the initial quarter of 2023, China has significantly escalated its investments in infrastructure to spur economic advancement, kickstarting over 10,000 projects nationwide. The combined funding for these initiatives has increased to around 7 trillion yuan (equivalent to USD 1.03 trillion). For example, in January 2022, China introduced a development blueprint for its construction sector during the 14th Five-Year Plan spanning from 2021 to 2025. This strategy encompasses the integration of digital technology into the construction and building processes.
• On 21 January 2021, Saint-Gobain India Pvt. Ltd. – Gyproc launched its inaugural ceiling tiles manufacturing plant in Jhagadia, Gujarat. This strategically positioned facility will cater to the demand for gypsum ceiling tiles throughout India, spanning in an area of over 21,000 square feet. With an impressive annual capacity of 6 million square meters, the plant is poised to diminish India's reliance on Chinese imports for cost-effective ceiling tiles.

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Emergen Research has segmented the global ceiling tiles market on the basis of material type, property type, application, and region:

• Material Type Outlook (Revenue, USD Billion; 2019-2032)

• • Mineral Fiber
  • Gypsum
  • Metal
  • Polyvinyl Chloride (PVC)
  • Others

• Property Type Outlook (Revenue, USD Billion; 2019-2032)

• • Acoustic
  • Non-Acoustic

• Application Outlook (Revenue, USD Billion; 2019-2032)

• • Commercial
    1. Offices
    2. Retail Spaces
    3. Hospitality
    4. Healthcare
    5. Education
    6. Others
  • Residential
  • Industrial

• Regional Outlook (Revenue, USD Billion; 2019–2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. UK
    4. Italy
    5. Spain
    6. Benelux
    7. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. South Africa
    4. Turkey
    5. Rest of Middle East & Africa

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