Newark, Feb. 14, 2023 (GLOBE NEWSWIRE) -- The Ceiling tiles market was estimated at around USD 6.9 billion in 2021, growing at a CAGR of nearly 7% during 2022-2030. The market is projected to reach approximately USD 12.7 billion by 2030.
Ceiling tiles are movable construction elements that can be used to enhance the aesthetics of any room or area. These tiles can be used to cover ceilings that are tray-shaped, domed, suspended, shed-shaped, vaulted, and ornamental. The ceiling tiles provide a number of advantages, including low maintenance requirements, thermal insulation, durability, fire resistance, and sound absorption. Ceiling tile or board is one of the most frequently used building materials. Over the projection period, it is anticipated that the rising acceptance of eco-sustainable tiles that are approved for the green building criteria for creating fewer VOCs will have an effect on the usage of conventional goods. The global ceiling tile market is seeing well-known manufacturers diversify their product offerings by introducing low-VOC emission and asbestos-free product lines. More older buildings will likely be restored or modified as a result in the industrialized economies of North America and Europe, where the use of green building materials is gaining in favor. The rapid use of recyclable and reusable technology by leading local companies is another factor that is anticipated to boost demand for ceiling tiles throughout the course of the projection period.
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Growth Factors
It is projected that the growing construction industry and customer tastes for recently refurbished homes are evolving home options would be the main drivers of market revenue growth. The demand for ceiling tiles as a replacement option has increased as a result of the growth of the worldwide building market. The demand for panels is growing most quickly and steadily in the developed countries. Increase in per capita income motivates people to better their lifestyles and purchase luxury homes since people are spending more money on home remodeling and improvement. Customers think that a well-decorated space denotes status, so improvements to various ceiling options have been made to support favorable social stereotypes. Consumers are significantly influenced by social media to make investments in home remodeling. Furthermore, DIY home social media development initiatives typically highlight options that are inexpensive, simple to install, minimal upkeep, and make a space feel cozier. The need to update living quarters with convenient appliances is predicted to boost demand for tiles as a restoration material.
The demand for ceiling tiles is predicted to rise across the developing world, particularly in regions like South America, Asia Pacific, and the Middle East. These markets dominate the ceiling tile industry as a result of the speedy modernization sparked by economic expansion and significant R&D expenditures. As a result of these countries' quick industrialization, the building and infrastructure sectors are expanding quickly, which is increasing demand for ceiling tiles. It is projected that demand for ceiling tiles will increase as production facilities and industrial bases are extended, firms move to these regions, and there is a bountiful supply of raw materials.
Segmental Overview
The market for ceiling tiles market is segmented into the product, and application. According to the product, the mineral wool segment is expected to increase at the quickest rate. This is mostly due to a growth in demand for mineral wool in ceiling tiles for residential, non-residential, and commercial applications. Glass wool, rock, and slag-derived strands are combined to create mineral wool. This particular area offers mineral strands and fiberglass along with moist felt. These materials are being used more frequently in commercial and professional settings because of their noteworthy noise-reducing properties.
In 2021, the metal sector held a significant market share as well. Metal ceiling tiles are created using tin, aluminum, and steel as the primary materials. Their commitment to the environment and supportive character have aided in the expansion of the ceiling tile industry globally.
During the forecast period, the ceiling tiles market by application is expected to be dominated by the non-residential sector. Due to its rapid expansion into the construction of commercial buildings on a global scale and the resurgence of the non-residential construction market, it is primarily used in a variety of commercial spaces, including those in the hospitality, retail, and healthcare sectors for use in lobbies, operating rooms, hallways, clinics, and diagnostic facilities.
Regional Overview
In the ceiling tiles market, Asia-Pacific represented the largest market share of the whole market. This is due to the adoption of cutting-edge construction technology brought on by increased consumer disposable income in several of the region's emerging economies. Over the course of the projection period, urbanization, population growth, and renovation projects to improve the acoustics and design of commercial and cultural facilities are expected to be the primary factors driving product demand. The fastest-growing ceiling tile market in the world, APEJ, is in India (Asia Pacific without Japan). The business sector in India is expanding quickly, and there are more manufacturing centers than ever. According to data provided by the National Investment Promotion and Facilitation Agency, India's commercial sectors are expanding rapidly, and the country ranks as the world's fourth-largest market for vehicles and fifth-largest market for passengers on domestic and international flights. As a result, the commercial sector's demand for ceiling tiles is indirectly increasing.
The United States has tremendous potential in the next years as the primary market for ceiling tiles in North America. Increased use of fissured ceiling tiles, plain ceiling tiles, and other types of ceiling tiles is one of the factors driving growth in the United States. Additionally supporting demand are the highly established business, hotel, and other sectors.
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Report Scope
| Base Year | 2021 |
| Forecast period | 2022-2030 |
| Report Coverage | Revenue estimation and forecast, company profile, competitive landscape, growth factors, and recent trends |
| Regional scope | North America, Europe, Asia Pacific, Middle East & Africa, and Latin America |
| Market Size(unit) | USD Billion |
| Ceiling tiles Market CAGR | 7% |
| Segments Covered | By Product By Application |
List of the prominent players in the Global Ceiling tiles market:
• USG Corporation
• Knauf Gips KG
• Rockwool International A/S
• Odenwald Faserplattenwerk GmbH
• Saint-Gobain Gyproc
• HIL Limited
• New Ceiling Tiles LLC
• Hunter Douglas
• KET Ceilings
• Armstrong Worldwide Industries Inc.
The global Ceiling tiles market is segmented as follows:
By Product
• Mineral Wool
• Metal
• Gypsum
By Application
• Non-residential
• Residential
• Industrial
By Region/Geography
• North America
o The U.S.
o Canada
o Mexico
• Europe
o France
o The UK
o Spain
o Germany
o Italy
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Australia
o South Korea
o Rest of Asia Pacific
• The Middle East & Africa
o Saudi Arabia
o UAE
o Egypt
o Kuwait
o South Africa
o Rest of the Middle East & Africa
• Latin America
o Brazil
o Argentina
o Rest of Latin America
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About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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