According to the latest report by IMARC Group, titled “Ceiling Tiles Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, the global ceiling tiles market reached a value of US$ 22 Billion in 2017. Ceiling tiles, or ceiling panels, are lightweight construction materials which are used for covering ceilings. These tiles can be utilized with different ceiling types such as decorative, shed, tray, cathedral, vaulted, coved, domed and suspended ceilings. They are used for providing thermal insulation and improving the aesthetics and acoustics of a room. Generally installed in an aluminum grid, ceiling tiles are designed and manufactured in a wide range of patterns, shapes and sizes. According to the required performance and features, ceiling tiles can be made using processed, recycled or natural raw materials including starch, fiberglass, recycled newsprint and tin.
The increasing demand for high-quality ceiling tiles is driven by a significant growth in the construction industry and rising popularity of recyclable building materials. In addition to this, several governments across the globe have initiated new public infrastructure projects that aim to develop city and town centers. Apart from this, an increase in the utilization of better interior solutions that offer improved noise absorption in departmental stores, educational institutions, offices and public utility areas is propelling the consumption of ceiling tiles. However, asphalt and mortar are considered better substitutes to ceiling tiles as these materials are easily available and incur lower costs. The rising availability of these materials may hamper the growth of the global ceiling tiles market. Despite this hindrance, the market is expected to reach a value of US$ 32 Billion by 2023, at a projected CAGR of more than 6% during 2018-2023.
- The market has been categorized according to different types of ceiling tiles which mainly include mineral wool ceiling tiles, gypsum ceiling tiles and metallic ceiling tiles. Amongst these, mineral wool ceiling tiles are the most popular choice among the consumers.
- On the basis of applications, the ceiling tiles market has been segmented into non-residential applications and residential applications. Currently, ceiling tiles are majorly used in various non-residential spaces such as restaurants, cafeterias and hotels.
- On a regional basis, North America represents the largest market for ceiling tiles, holding the majority of the total share. North America is followed by Europe, Asia Pacific, Latin America, and Middle East and Africa.
- The competitive landscape of the global ceiling tiles market has also been examined with some of the key players being SAS International, Rockfon, USG Corporation, Knauf, Cargill, Odenwald Faserplattenwek GmbH, Chicago Metallic Corporation, and Grenzebach BSH GmbH
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