NEWARK, Del, June 13, 2023 (GLOBE NEWSWIRE) -- The ceiling tiles market size is expected to reach US$ 35.2 Billion by 2023 and US$ 140 billion by 2033, growing at a 14.8% CAGR. Ceiling tiles are becoming more popular throughout the world due to an increasing emphasis on decorating interiors and exteriors in commercial, industrial, and other fields. The growth in the construction and building industry has stimulated ceiling tile manufacturers to prosper.
Commercial construction is expected to expand in light of the increase in skyscrapers, hospitals, colleges, and shopping malls. According to predictions, the market will grow due to factors including the growing demand for thermal insulation and acoustic insulation. Metalworks ceilings are often constructed from aluminum, which can contain up to 98% recycled material. Construction waste is reduced by metal ceilings, which are reclaimable after their use and have a long lifespan. In addition, perforated panels with acoustical backing can also improve indoor environmental quality with metal ceilings by reducing reverberation time and enhancing acoustics, both of which can reduce the cost of energy consumption.
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A sustainable ceiling may be constructed from recycled and recyclable materials, or from components that are environmentally friendly in the extraction, manufacture, and transportation process. In addition to being more sustainable, a durable ceiling does not have to be replaced as often as an inflexible ceiling. The mineral & fiberglass ceiling tiles are a great option since they are stable under low to high frequencies. Ceiling tiles manufactured from mineral fibers tend to have a lower noise reduction coefficient (NRC) and a higher ceiling attenuation classification (CAC). Ceiling tiles made of fiberglass will keep a room quieter than mineral fiber ones. In addition to being moisture-resistant and sagging-resistant, fiberglass panels offer low density.
Key Takeaways:
- Approximately two-fifths of revenue in 2023 came from mineral fiber/gypsum ceiling tiles.
- Installed ceiling tiles are expected to enjoy an increase in demand in the future.
- The commercial market will account for over 90% of sales by 2033.
- Drop ceiling tile is installed, its popularity is expected to skyrocket, due to its ease of installation against the backdrop of an explosion in popularity.
- The development of infrastructure in India and China will spur sales.
- The United States is expected to achieve significant growth in the coming years, backed by a positive housing market.
- Regulations requiring periodic upgrades in ceiling material to lead the UK market's growth.
“A growing concern for the environment is encouraging major construction companies to use sustainable ceiling tiles, offering manufacturers a chance to expand their product lines,” - says an analyst at FMI.
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Competitive Landscape:
The ceiling tile industry faces intense competition around the world. Their leading position in the highly competitive market will be maintained by offering a cost-effective and broader product line.
The key industry players are Armstrong World Industries, USG Corporation, Hunter Douglas, SAS International, Certain Teed, Rockfon LLC, Odenwald Faserplattenwerk GmbH, Knauf Georgia-Pacific LLC, Saint-Gobain Gyprac, Georgia-Pacific.
Market Developments Include:
- In April 2023, Rockfon will unveil acoustic ceilings that reflect current trends in nature and wellness. Stone wool ceiling panels from Rockfon are not only beautiful but also support healthy acoustics and environmental quality in interior spaces. ‘Colors of Wellbeing’ is a collection of matte-finished Rockfon® Chicago Metallic ceiling suspension systems and Rockfon Color-all acoustic stone wool ceiling panels.
- In May 2023, Woven Image will introduce Fuji, a range of ceiling tiles for spaces with raw concrete interiors that improves sound quality. With industrial materials surfaces and exposed ceilings, the Fuji collection is a perfect choice for commercial offices that are becoming increasingly trendy. Compared to flat panels, tiles, or baffle systems, these tiles have concave three-dimensional shapes that offer better acoustic performance.
Key Segmentation:
By Material:
- Aluminum
- Fiber Glass
- PVC
- Mineral Fiber/ Gypsum
- Wood
- Steel
By Application:
- Residential
- Commercial
- Hospitality
- Industrial
- Institutional
By Installation:
- Surface Mount
- Drop/Suspended
By Form:
- Laminated
- Fissured
- Patterned
- Plain
- Textured
- Coffered
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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More Valuable Insights Available:
Future Market Insights offers an unbiased analysis of the global ceiling tiles market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the ceiling tiles market, the market is segmented on the basis of product, applications, and region.
Table of Content (ToC):
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (Tons) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application
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About the Chemical & Material Division at Future Market Insights (FMI):
The chemical & material team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 billion+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
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