6-Aug-2019: The global ceiling tiles
market size is expected to reach USD 9.91 billion by
2025, according to a new report by Grand View Research, Inc. It is anticipated
to expand at a CAGR of 9.3% during the forecast period. The positive growth
trends in the commercial construction sector across the globe are expected to
play a vital role in creating ample scope for the consumption of building
materials thereby driving the market growth.
Ceiling tiles are
utilized primarily for providing better acoustic insulation to interior
constructions. The raw materials such as mineral wool, metal, and gypsum have
significant noise reduction coefficient and they are light in weight and
environment-friendly; which makes them favorable for use in ceiling systems.
This factor is projected to drive the product demand in the forthcoming years.
The market
participants supply ceiling tiles through different distribution channels
including direct supply, wholesale or bulk selling, third-party supply
contracts, and through online portals. The major players are expected to be
benefited from third-party agreements, by obtaining access to the regional
distribution and marketing networks.
Rising demand for
decorative interiors and exterior in the construction sector has urged the use
of advanced designing and printing technologies in the building materials
market. Innovation in an enhancement of aesthetics of non-residential buildings
is expected to create new avenues for research and development in terms of
providing improved visual effects and finishing of ceilings.
Environmental
concerns regarding waste generation are expected to create the need for
inventions in recycling and reuse technologies in the ceiling tiles market.
Recycling of waste mineral tiles has boosted sustainable development in the
industry and has minimized the dumping of ceiling tiles in landfills primarily
in developed economies of North America and Europe.
In
depth research report on Ceiling Tiles Market
Further key findings from the report suggest:
·
Mineral wool ceiling tiles include wet felt, cast mineral
fiber as well as fiberglass and accounted for 42.2% of the market share in
terms of revenue in 2018 on account of superior performance and recyclability
of the product
·
Metal-based segment is expected to register a CAGR of 9.4%
from 2019 to 2025 and is expected to be the second fastest growing segment on
account of extensive product portfolio manufactured using steel, aluminum, and
tin offering high durability products
·
Non-residential application segment accounted for 92.1% of
the revenue share in 2018 as these products are majorly used in offices, retail
stores, institutes, healthcare, and hospitality sector to improve aesthetics as
well as to offer acoustic insulation
·
·
The product demand primarily from offices is expected to
register the highest CAGR 9.7% from non-residential application segment on
account of increasing construction of new office spaces across the globe
·
North America accounted for 33.9% of revenue share in 2018 on
account of high adoption of the tiles to improve aesthetics and thermal and
acoustic insulation in non-residential buildings primarily offices, institutes,
and commercial spaces
·
The ceiling tiles market is highly fragmented in nature with
the presence of global and regional players. The major players implement
various strategies such as acquisitions of business assets of raw material
providers, product upgrades, and accessing global distribution network.
Grand View Research
has segmented the global ceiling tiles market on the basis of product,
application, and region:
Ceiling Tiles Product Outlook (Volume, Million Square Meters;
Revenue, USD Million, 2014 - 2025)
·
Mineral Wool
·
Metal
·
Gypsum
·
Others
Ceiling Tiles Application Outlook (Volume, Million Square
Meters; Revenue, USD Million, 2014 - 2025)
·
Non-Residential
·
Residential
·
Industrial
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About
Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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