The global Ceiling Tiles market size is expected to be worth around US$ 21.66 billion by 2030, according to a new report by Vision Research Reports.
The global Ceiling Tiles market size was valued at US$ 5.93 billion in 2020 and is anticipated to grow at a CAGR of 8.8% during forecast period 2021 to 2030.
The growth in commercial construction activities, driven by the construction of new office spaces, malls, hospitals, and hotels, is expected to drive the market growth over the forecast period.
Ceiling tiles are primarily utilized for providing thermal & to buildings. The key materials used for making ceiling tiles such as metal, gypsum, mineral wool, and cork have high noise reduction capability, have less weight, and are much more environmentally friendly as compared to conventional materials used for making buildings.
An increase in demand for designing decorative interiors in the construction sector has led to a rise in the usage of advanced printing & designing technologies in the construction materials industry. Innovation for aesthetics enhancement of non-residential buildings is anticipated to open new opportunities for growth in terms of improving the energy efficiency of buildings, along with high acoustic insulation levels.
The industry players use different distribution channels such as wholesale selling, third-party agreements, direct supply, and also via online portals. The major players in the industry collaborate with distributors in different countries, for expansion of their geographic portfolio and serve a bigger customer radius.
Mineral wool segment inclusive of fiberglass, cast mineral fiber, and wet felt led the product segment and accounted for about 42% of the revenue in 2020. This is attributed to the superior characteristics such as less weight,recyclability, and thermal insulation, leading to an increase in product usage in several end-use industries.
Tin, aluminum, and steel are the commonly incorporated metals in manufacturing, offering a clean, hi-tech, and crisp interior display, and are available in several colors. Ceiling tiles made of powder-coated metals offer better finishing along with great corrosion resistance, thus driving the demand over the forecast period.
Gypsum accounted for a major share in revenue in 2020 and is expected to witness a CAGR of 8.8% over the projected period. This is attributed to the numerous benefits provided by these tiles, such as easy installation, less weight on structure, and easy repair and maintenance. These tiles are widely used in several modern office complexes in the U.S for aesthetical feature enhancement.
Rapidly increasing demand for different types of ceiling tiles is anticipated to increase the pressure on materials like gypsum, metals, and mineral wool. The market of ceiling tiles made up of other materials such as polycarbonate, wood, and PVC is expected to witness stabilized growth over the coming years, to decrease the utilization rate of commonly used materials.
Non-residential application led the ceiling tiles market and accounted for about 92% share in revenue in 2020. This is attributed to the rapidly rising construction activities of commercial buildings around the globe. Investments in several developing countries such as India, Brazil, and South Korea towards the development of the non-residential construction industry are expected to drive the market growth over the forecast period.
Ceiling tiles are widely used in several commercial places such as hospitality, healthcare, and retail in medical hallways, corridors, operation theatres, diagnostic centers, and clinics. These tiles are majorly used for highlighting of aesthetics of commercial and cultural buildings and for enhancing the thermal & acoustic insulation properties.
The residential application segment is expected to witness significant market growth over the coming years, due to the increase in expenditure towards repair and renovations in the housing sector. High growth in residential construction activities across the globe, coupled with rising trends of urbanization in several developing countries is expected to open new opportunities for industry growth over the forecast period.
An increase in the green buildings construction industry in several economies in Europe and North America is expected to lead to increased consumption of eco-friendly ceiling tiles. Several key players in the market are emphasizing on development of ceiling tiles made up of materials such as recycled wood and slag wool, which have very less manufacturing and processing costs and are also eco-friendly.
North America led the market and accounted for about 34% of the share in global revenue in 2020, on account of high product adoption in the non-residential construction industry. Technological innovations in this sector coupled with increasing needs for high thermal and acoustic insulation are expected to play a major role in the rising product demand in the region.
The U.S. accounted for a significant share in North America in 2020, owing to rising consumer preferences towards the renovation of houses, and increasing adoption of soundproof and decorative interior materials in several commercial buildings such as business centers, malls, clubs, and restaurants. The growth in the residential industry, primarily in single-family housing, is an important factor driving the market growth in the forthcoming years.
Europe accounted for a major share in 2020 and is expected to expand at a CAGR of 7.2% over the forecast period. This is attributed to rising product demand due to the presence of a well-established construction sector in the region, equipped with sustainable construction technologies.
The demand in Asia Pacific is expected to register a CAGR of 10.3% owing to rising consumer disposable income in several developing countries in the region, leading to the adoption of modern construction practices. Factors such as urbanization, population growth, and renovation activities in cultural and commercial places for increasing their aesthetical and acoustical properties are expected to drive product demand over the forecast period.
AWI Licensing LLC
Knauf Gips KG
ROCKWOOL International A/S
Odenwald Faserplattenwerk GmbH
Central & South America
Middle East & Africa
The Ceiling Tiles market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Ceiling Tiles market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Ceiling Tiles market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Ceiling Tiles market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Ceiling Tiles market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Ceiling Tiles capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Ceiling Tiles by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Ceiling Tiles market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Ceiling Tiles market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Ceiling Tiles market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Ceiling Tiles industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Ceiling Tiles market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Ceiling Tiles market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Ceiling Tiles market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Ceiling Tiles market. These factors have benefited the growth of the global market for Ceiling Tiles. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Ceiling Tiles. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Ceiling Tiles are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
To strategically profile the key players and comprehensively analyze their growth strategies.
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