ALBANY, New York, November 29, 2016 /PRNewswire/ --
Transparency Market Research has published a new report titled "Ceiling Tiles (Mineral Wool, Metal, Gypsum, Others) Market for Residential, Non-residential and Industrial - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016-2024" According to the report, the global ceiling tiles market was valued at US$ 21,661.3 Mn in 2015 and is anticipated to reach US$ 51,309.4 Mn by 2024, expanding at a CAGR of 10.1% between 2016 and 2024.
In terms of product, ceiling tiles market has been segmented into mineral wool, metal, gypsum and others. Raw materials such as mineral fiber, gypsum and metals are used in the production of different types of ceiling tiles. Gypsum tiles are manufactured based on soft minerals, which provide high aesthetic value along with significant functionality and economy.
Ceiling tiles are primarily used in residential, non-residential and industrial application. In terms of volume, non-residential dominated the ceiling tiles market, followed by industrial application, in 2015. The non-residential segment accounted for significant share of the ceiling tiles market in 2015 and the trend is likely to continue during the forecast period. The non-residential segment includes hospitality, commercial, and institutional sectors. Ceiling tiles that offer sound control properties and allow easy access to ducts and wiring are being increasingly used in non-residential buildings. Ceiling tiles that are used in the hospitality segment are expected to be waterproof, washable, and bacteria-resistant. These are generally employed in commercial kitchens, central food preparation areas, lobby, and reception areas. The hospitality segment includes hostels, hotels, motels, restaurants, bars, cafes, and nightclubs. Increase in usage of ceiling tiles films in the non-residential segment is estimated to provide worthwhile growth opportunities for the ceiling tiles market in the next few years.
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In terms of demand, North America accounted for a key share of the ceiling tiles market in 2015. The region is projected to lead the market during the forecast period owing to the increasing usage of ceiling tiles in building & construction industries. Europe and Asia Pacific held considerable market share in 2015; however, demand for ceiling tiles is likely to remain stable in Europe due to the average growth of building & construction sector. Asia Pacific and Middle East & Africa regions are estimated to be a lucrative market for ceiling tiles in the next few years owing to the rise in investment in production of new building & construction projects.
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The report provides a comprehensive view of the ceiling tiles market in terms of volume and revenue. It includes current demand analysis and forecast for product and application segments in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Moreover, the report provides comprehensive country-wise analysis of the ceiling tiles market in the regions mentioned above.
The ceiling tiles market has been divided into the following segments:
Ceiling Tiles Market - Product Analysis
- Mineral Wool
Ceiling Tiles Market - Application Analysis
Ceiling Tiles Market - Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific (APAC)
- Latin America
- Rest of Latin America (LATAM)
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa (MEA)
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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SOURCE Transparency Market Research