Global Ceiling Tiles Market to Grow at 3.96% During 2023-2028, Catalyzed by Significant Growth in Construction Sector

December 09, 2021 | Chemical & Materials

According to the latest report by IMARC Group, titled “Ceiling Tiles Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global ceiling tiles market size reached US$ 6.8 Billion in 2022. Ceiling tiles are lightweight construction materials that are extensively utilized for improving the aesthetics of a space. Largely manufactured using materials like metal, clay, gypsum, natural starch and recycled paper, these tiles are exceptionally durable and require low maintenance. They also offer excellent resistance to fire, provide thermal insulation and absorb sounds in an enclosed space. They are widely used for various ceiling types, which may include domed, shed, tray, coved and suspended. As a result, they find extensive applications in the construction and renovation of various public and private spaces, including residential homes, offices, schools, cafeterias, hospitals, hotels and airports.
 

Global Ceiling Tiles Market Trends:

The global market is primarily driven by the considerable growth in the construction sector. Rapid urbanization, inflating per capita income levels and shifting lifestyle preferences of the masses have led to the rising demand for renovation across the residential sector. This has impelled the sales of aesthetically appealing ceiling tiles on the global level, thereby providing a thrust to the market growth. Apart from this, the governments of numerous countries are taking initiatives to upgrade public infrastructures. They are continually investing in the development of new infrastructure projects as well as the renovation of existing structures. This has contributed to the increasing demand for construction materials, including ceiling tiles, which, in turn, is creating a positive outlook for the market. Moreover, cost-effective product variants that offer an aesthetic appeal and luxurious look to the interiors are gaining widespread prominence among the masses. The market is further driven by the continuous advancements in the production technology that have resulted in the introduction of tiles that are characterized by a simplified installation process and enhanced noise absorption quality. On account of the aforementioned factors, the market is anticipated to grow at a CAGR of 3.96% during 2023-2028.

Market Summary:

  • 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 in the report with the detailed profiles of the key players. Some of these players include SAS International, ROCKFON International A/S, USG Corporation, Knauf Gips KG, and Odenwald Faserplattenwerk GmbH.


About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.


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Global Ceiling Tiles Market to Grow at 3.96% During 2023-2028, Catalyzed by Significant Growth in Construction Sector
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