According to the latest report by IMARC Group, titled “Ceiling Tiles Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global ceiling tiles market size reached US$ 24 Billion in 2019. Ceiling tiles are lightweight construction materials that are widely utilized for covering ceilings. These tiles offer numerous benefits, which include providing thermal insulation and improving the overall aesthetics and acoustics of a space. As compared to conventional construction materials, ceiling tiles are durable, fire-resistant, require low maintenance, and absorb sound. As a result, they are used in the construction and renovation of schools, cafeterias, offices, hospitals, stores, hotels and airports worldwide.
Global Ceiling Tiles Market Trends:
On account of rapid urbanization, inflating income levels and improving living standards, there is a rise in the demand for aesthetically appealing ceiling tiles across the globe. Additionally, rising industrialization and urbanization rates have increased construction activities in both the developed and emerging economies. This, in turn, is also strengthening the growth of the ceiling tiles market around the world. Apart from this, due to the increasing western influences, consumers nowadays are seeking affordable ceiling options that offer stylish and luxurious interiors. Furthermore, governments of several countries are investing in new public infrastructure projects to develop city and town centers, which is also fueling the market growth. Some of the leading players in the industry are focusing on expanding their existing market share. Consequently, they are introducing advancements in technology to simplify the installation process and ensure perfect alignment and optimum finished look of these tiles. These factors collectively are anticipated to bolster the market growth in the coming years. Looking forward, the market value is projected to reach US$ 35 Billion by 2025, expanding at a CAGR of 6.2% during the forecast period (2020-2025).
- Based on the product type, the market has been segmented into mineral wool, gypsum, metallic and other ceiling tiles. Amongst these, mineral wool ceiling tiles exhibit a clear dominance in the market.
- On the basis of the application, the market has been bifurcated into residential and non-residential segments. At present, ceiling tiles are mostly utilized in non-residential applications worldwide.
- Region-wise, North America enjoys the leading position in the market. Other major regions include Europe, Asia Pacific, Latin America, and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being SAS International, ROCKFON International A/S, USG Corporation, Knauf Gips KG and Odenwald Faserplattenwerk GmbH.
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