Valuation of Ceiling Tiles Market to Reach US$ 75 Bn by 2031, TMR Report

ALBANY, N.Y., Feb. 3, 2022 /PRNewswire/ -- Analysts at TMR estimate the ceiling tiles market to clock a CAGR of 7.2% during the forecast period from 2021 to 2031. Rise in demand for ceiling tiles for construction of residential, non-residential, commercial, industrial, and institutional buildings drives the ceiling tiles market. The exponential growth of the construction sector before COVID-19, especially in developing economies has led to a spurt in demand for construction materials, including ceiling tiles.

Ceiling tiles are sound absorbing and lightweight construction materials used to cover roof of different types of buildings. Ceiling tiles are widely used in building borders, drywell network frameworks, suspensions, and transport terminals, among others, for external appeal and acoustic protection. Ceiling tiles are placed in an aluminum grid with the primary purpose to enhance the acoustics of enclosed spaces, and can even be used as heat insulators.

Availability of ceiling tiles in a variety of colors, finish, and sizes suitable for individual areas of a residential unit or a non-residential building creates ample opportunities in the ceiling tiles market.

Led by China, Asia Pacific holds the leading share of the overall ceiling tiles market. The ceiling tiles market in the region is projected to rise at a CAGR of 6.2% during the forecast period.

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Ceiling Tiles Market – Key Findings of Report

• Extensive use of ceiling tiles in interiors of residential and non-residential buildings for their material properties such as moisture absorption and fire resistance, and for aesthetics fuels growth
• Preference of building designers and architects for ceiling tiles for their appealing look leads manufacturers to engage in design, manufacture, and marketing of newer products
• Growth curve of the ceiling tiles market to gain from increasing demand from non-residential buildings such as offices, hospitals, recreation centers, and institutional buildings. Visual appeal, easy installation, sound absorption, and sound blocking properties account for increasing use of ceiling tiles in non-residential buildings.
• Characteristic of kitchen tiles for their resistance to sagging, mold, and mildew strengthens demand
• The mineral wool product segment held the leading share of the ceiling tiles market in 2020. Mineral wool displays distinguishing characteristics of noise reduction. Mineral wool is composed of strands derived from rock, glass wool, and slag.
• The metal product type segment held a significant share of the ceiling tiles market in 2020 due to their environment-friendly origin

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Ceiling Tiles Market – Growth Drivers

• Extensive demand for ceiling tiles for use in various areas of residential units such as kitchen, living room, and bathroom fuels the growth of the ceiling tiles market. Ceiling tiles are used in various areas of residential units for their decorative, sanitary, and acoustic properties.
• Growing demand for ceiling tiles for non-residential buildings such as commercial spaces, offices, and entertainment centers for their sound blocking and sound absorption properties stimulates growth

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Ceiling Tiles Market – Key Players

Some of the key players operating in the ceiling tiles market are;

• Sun Armstrong World Industries Inc.
• USG Corporation
• Saint-Gobain S.A.
• ROCKFON
• Odenwald Faserplattenwerk GmbH
• New Ceiling Tiles LLC
• SAS International
• Knauf
• MADA GYPSUM

The ceiling tiles market is segmented as follows;

Ceiling Tiles Market, by Product Type

• Mineral Wool
• Metal
• Gypsum

Ceiling Tiles Market, by Application

• Residential
• Non-residential
• Hospitality
• Commercial
• Institutional
• Industrial

Ceiling Tiles Market, by Region

• North America
• U.S.
• Canada
• Europe
• Germany
• France
• U.K.
• Spain
• Italy
• Russia & CIS
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• ASEAN
• Rest of Asia Pacific
• Latin America
• Brazil
• Mexico
• Rest of Latin America
• Middle East & Africa
• GCC Countries
• South Africa
• Rest of Middle East & Africa

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