Global Ceiling Tiles Market – Overview

Ceiling tiles or ceiling boards are among the most commonly used construction components. They are generally used for improving the aesthetic look of a building or construction. It is also used for changing the general style and providing acoustic protection. These ceiling tiles have become integral part in molding market for affordable and reasonable homes. These tiles are widely used in drywell network frameworks, building borders, suspensions, retail spaces, transport terminals, and workplaces among others.

Considerable applications which are helping towards the development of the global market for ceiling tiles are commercial spaces, governance, healthcare, banking, and tourism among others. Apart from this, ceiling tiles are additionally helping to enhance the acoustics of enclosed spaces and can even be used as heat insulators. Because of these additional features, there has been a growing demand for these ceiling tiles, and thus have helped in the driving the overall growth of the global market in recent years.

Transparency Market Research has published a research about the global ceiling market, providing detailed insights about the key market segments, geographical segments, drivers and restraints, and competitive landscape. As per the research report, the global market for ceiling tiles is expected to clock a massive CAGR of 10.10% over the course of the forecast period ranging from 2016 to 2024. In the year 2015, the valuation of the global market was around US$21.6 bn. With the given rate of growth, the global market is expected to reach a valuation worth US$51.3 Bn by the fall 2024.

Increasing Demand from Commercial as Well as Residential Sectors

Mineral wool integrates strands derived from glass wool, rocks, and slag. This particular segment uses wet felt and provides mineral strand and fiberglass as well. These materials have notable qualities of noise reduction and are being growingly used in commercial and business spaces that generally have a quite boisterous environment.

There has been a growing demand for mineral wood segment of the global ceiling tiles market. This demand is expected to continue rising in the coming years of the forecast period because of their superior recyclability and execution properties. Metal based items account for the second largest industry in recent years. Tin, aluminum, and steel are the considerable materials used for the manufacturing of metal ceiling tiles. Their eco-friendly and supporting nature have also helped in the overall development of the global market for ceiling tiles. Moreover, the companies in the global market are projected to generate more profits with the emergence of additional lucrative business opportunities in coming years.

There are several business sub-applications of ceiling tiles. These sub-applications generally include instructive foundations, supermarkets, retail spaces, healthcare centers, corporate workspaces, and others. Ceiling frameworks are used by airplane terminals, recreation centers, utility rooms, restrooms, eateries, and cafeterias among others. In recent years, there has been a growing demand for development of residential areas, which too has played a considerable role in the overall development of the global ceiling tiles market.

Emerging Economies to Help Asia Pacific Market to Grow

In terms of regional segmentation, the global market for ceiling tiles is being dominated by the regional segment of North America. The regional segment of Europe is projected to be next in line after North America. The regional segment of Asia Pacific is expected to witness a highly promising growth in the coming years of the forecast period due to the growing demand from emerging economies such as India and China.

Vendors operating in the global ceiling tiles market are USG Corporation, SAS International, Techno Ceiling Products, Armstrong World Industries, and Saint-Gobain S.A., among several others.