Ceiling Tiles Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast growthmarketreports.com
The global ceiling tiles market size is estimated to expand at a substantial CAGR of 6.5% during the forecast period, 2021–2028. Ceiling tiles are otherwise known as ceiling panels. These are incredibly lightweight building materials that are utilized to cover the ceiling. They offer thermal insulation and are typically designed to improve room appearance and acoustics. It is commonly used to decorate the interior of a room as well as to reduce noise. They can also be utilized for thermal insulation to some extent.Ceiling tiles are widely used in commercial and industrial settings, including workplaces, hospitals, homes, and retail stores. They have many prominent characteristics, including excellent performance, fire prevention, thermal insulation, and noise cancellation. They are used in a wide range of industries, including warehousing, healthcare, architecture, and retail stores. Ceiling tiles are also long-lasting and have numerous advantages, including moisture absorption and fire protection.
Market Trends, Drivers, Restraints, and Opportunities
Increasing attention on developing, producing, and marketing ceiling tiles for a variety of commercial purposes are key factors spurring the market growth in the coming years.
Increasing need for acoustic and thermal insulation, growing disposable income in emerging countries, and changing consumer preferences for residential and office building aesthetics are projected to fuel the market expansion during the forecast period.
Growing awareness about the use of environmentally friendly components is anticipated to enhance the green building concept in developed countries, while major players’ increasing acceptance of recycling and reuse of building materials is projected to boost the market expansion in the coming years.
High costs of ceiling tiles installation are projected to hinder the market growth.
The risk of competitors such as asphalt and mortar is anticipated to hamper the market expansion.
Ceiling tiles have become increasingly useful as a way of boosting visual appeal is expected to create significant opportunities for the market players.
Scope of the Report
The report on the global ceiling tiles market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Global Ceiling Tiles Market Segment Insights
Mineral wool segment is projected to account for a major market share
Based on raw materials, the global ceiling tiles market is divided into metals, mineral wool, gypsum, and others. The mineral wool segment is expected to account for a key share of the market during the forecast period due to improved properties such as reduced weight, sound absorption, recyclability, and heat insulation, which have led to increased product utilization in a variety of end-use sectors.
However, the gypsum segment is anticipated to expand at a rapid pace during the forecast period owing to the various advantages offered by ceramic tiles, including ease of installation, reduced structural weight, and ease of maintenance and repair. These tiles are frequently utilized for attractive feature improvement in many modern office buildings in the United States.
Commercials segment is expected to expand at a significant pace
On the basis of applications, the market is segregated into commercials, residential, industrials, and institutional. The commercials segment is expected to represent a key share of the market in the coming years due to its visual appeal, simplicity of installation, and acoustical qualities. Ceiling tiles are also long-lasting and have numerous advantages, including moisture absorption and fire protection. Ceiling tiles are commonly used in workplaces, retail establishments, academic institutions, healthcare, the hospitality industry, movie theaters, home theatres, auditoriums, and other commercial spaces.
Asia Pacific is anticipated to dominate the market
On the basis of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is anticipated to dominate the market at an impressive CAGR during the forecast period. The regional market growth can be attributed to the rising expenditures in residential and commercial buildings in countries like China, India, Vietnam, the Philippines, and Indonesia.
China currently has several airport infrastructure projects in the planned or development stages. The government’s USD 115 billion investment plan for building 25 industries in India is projected to increase commercial construction in the nation. The Indonesian government has announced its aim to spend USD 440 billion in the construction industry by 2021, to increase residential development in the country.
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