The global ceiling tiles market is
expected to reach USD 10.08 billion by 2025, growing at a CAGR of 9.5%,
according to a new report by Grand View Research, Inc. Increasing construction
of office spaces worldwide is likely to boost the usage of building materials
including mineral wool, metal, and gypsum panels by the end of 2025.
Rise in the working
population group, since the past few years has led to an increased construction
spending in key Asia Pacific countries including China, Vietnam, Bangladesh,
Singapore, India, Thailand, and Malaysia. Construction of new offices across
the globe is estimated to peak in the future.
This scenario is likely
to reflect in developing countries including China, Russia, and India. Furthermore,
currently rising foreign investments coupled with government initiatives in
these countries is projected to boost the construction of business centers and
IT parks in the recent future. These factors are considered to influence the
consumption of construction materials including ceiling tiles and hence boost
their market growth.
Emerging regions
especially Latin America and Middle East & Africa are expected to depict
above average industry growth owing to development of the hotel sector as a
result of increasing government initiatives regarding the tourism industry in
these regions.
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Research :
Further key findings from the report suggest:
·
In terms of revenue, the residential
segment is expected to rise at a CAGR of 9.4% over the forecast period. This
application segment constituted a revenue share of 4.6% in 2016.
·
Technological breakthrough in the field of
low VOC panels and recyclable tiles is estimated to offer lucrative growth
prospects in the industry by the end of 2025. Furthermore, development of three
dimensional ceiling tiles is another important milestone that is expected to
open new avenues in the industry.
·
Companies are aiming at achieving optimum
business growth through fully integrating their business operations across the
product value chain. For instance, USG Corporation is engaged in manufacturing
ceiling tiles as well as its precursor gypsum board and has strong distribution
network.
·
In June 2017, Armstrong Ceiling Solutions
launched a new range of ceiling tiles under the New Dune eVo brand name. These
tiles are 100% recyclable and exhibit well improved aesthetics and acoustic
performance.
·
In April 2014, the Rockfon North America, a
ROCKWOOL International subsidiary achieved the UL Environment’s GREENGUARD Gold
certification for its low VOC products. This has enhanced the market position of
the company as a key sustainable player in the past years.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/automotive-and-aerospace-interior-materials
Grand View Research has
segmented the global ceiling tiles market on the basis of product, application,
and region:
Product Outlook (Volume, Million Square Meters; Revenue,
USD Million, 2014 - 2025)
·
Mineral wool
·
Metal
·
Gypsum
·
Others
Application Outlook (Volume, Million Square Meters;
Revenue, USD Million, 2014 - 2025)
·
Commercial Construction
·
Residential Construction
·
Industrial Construction
Regional Outlook (Volume, Million Square Meters; Revenue,
USD Million, 2014 - 2025)
·
North America
o U.S.
·
Europe
o Germany
o UK
·
Asia Pacific
o China
o India
·
Central & South America
o Brazil
·
Middle East & Africa
Access
press release by Grand View Research: http://www.grandviewresearch.com/press-release/global-ceiling-tiles-market
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, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For
more information: http://www.grandviewresearch.com