The global mineral wool ceiling tiles market reached a value of around US$ 9.9 Billion in 2019. Mineral wool ceiling tiles refer to high-grade interior decorative material, containing mineral wool fiber as the main raw material. They can be produced in a wide range of sizes, thicknesses, finished faces and densities, depending upon the performance and specification required. These tiles are used in offices, schools, hospitals, retail units, etc. Mineral wool ceiling tiles offer several advantages over competing products and have numerous performance characteristics including fire resistance, sound insulation, light reflectance, physical strength and durability. Over the past several years, the market for mineral wool ceiling tiles has witnessed a strong growth, thereby representing the biggest segment of the global ceiling tiles industry. Looking forward, IMARC Group expects the global mineral wool ceiling tiles market to exhibit moderate growth during the next five years.
Global Mineral Wool Ceiling Tiles Market Drivers:
Breakup by Application:
Mineral wool ceiling tiles find applications in both the residential and non-residential sectors. Amongst these, the non-residential segment exhibits a clear dominance with three-fourth of the total market share. This is due to the advantageous properties of mineral wool ceiling tiles as well as factors such as rapid urbanization and industrialization, especially in the emerging economies.
On a geographical front, North America enjoys the leading position in the market, holding about a half of the total market. A rise in the demand for eco-friendly building materials such as mineral wool ceiling tiles has majorly contributed to the growth of the market in the region. North America is followed by Europe and Asia Pacific.
The market is fragmented with the presence of numerous unorganized manufacturers operating in the market. Some of the major players include:
This report provides a deep insight into the global mineral wool ceiling tiles industry covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. The report also provides a comprehensive analysis for setting up a mineral wool ceiling tiles manufacturing plant. The study analyses the processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the mineral wool ceiling tiles industry in any manner.
Key Questions Answered in This Report:
Due to the outbreak of the coronavirus disease (COVID-19), there has been a disruption in the production and supply chain operations. This has negatively impacted the market growth across the globe.
The global mineral wool ceiling tiles market was worth US$ 9.9 Billion in 2019.
Mineral wool ceiling tiles are recyclable, inhibit fungal and bacterial growth, and reduce the environmental impact caused by the production of virgin alternatives. These advantages offered by the tiles represent the key market drivers.
One of the significant market trends is technological advancements in the tile manufacturing process to provide the perfect alignment and optimum finish to the end users.
The global mineral wool ceiling tiles market is anticipated to grow at a CAGR of 4.60% during the forecast period (2020-2025).
On the basis of the application, the market has been classified into the residential and non-residential sectors. Amongst these, the non-residential segment exhibits a clear dominance, with around three-fourths of the total market share.
Region-wise, North America holds the leading position in the market, accounting for around half of the total market share. Other major regions include Europe and Asia Pacific.
The leading players operating in the industry are SAS International Ltd., ROCKWOOL International A/S, USG Corporation, Knauf Gips KG, Odenwald Faserplattenwerk GmbH (OWA).
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