Global Ceiling Tiles Market Size, Share & Trends Analysis Report 2021-2028 - ResearchAndMarkets.com

The "Global Ceiling Tiles Market Size, Share & Trends Analysis Report by Product (Mineral Wool, Metal, Gypsum), by Application (Non-residential, Residential, Industrial), and Segment Forecasts, 2021-2028" report has been added to ResearchAndMarkets.com's offering.

The global ceiling tiles market size is expected to reach USD 11.66 billion by 2028 and is projected to register a revenue-based CAGR of 8.8%

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 & acoustic insulation 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.

Ceiling Tiles Market Report Highlights

• The mineral wool segment is expected to witness the fastest growth from 2021 to 2028, expanding at a CAGR of 9%, on account of superior characteristics such as less weight, acoustic insulation, recyclability, and thermal insulation
• Non-residential application dominated the market in 2020 and is expected to reach USD 10.7 billion by 2028, owing to high investments towards commercial space development in several developing countries such as India, Brazil, and South Korea
• Asia Pacific is estimated to witness the fastest growth of 10.3%, owing to rising consumer disposable income in several developing countries in the region, leading to the adoption of modern construction practices
• The demand is expected to be hampered owing to an outbreak of the COVID-19 pandemic in 2020. Governments in major economies such as U.S., India, South Korea, U.K., Germany, and Italy, restricted several ongoing construction projects to prevent transmission of the virus
• The market consists of several global and regional players providing a diversified range of products, thus leading to high competition in the industry. Strategies followed by key players include mergers and acquisitions, and vertical integration to gain a competitive edge in the market

Market Dynamics

Market driver analysis

• Growth of the commercial construction sector to boost the market growth
• Growth in the construction of green buildings in developed nations

Market restraint analysis

• Volatile oil prices are expected to hinder industry growth

Business Environment Analysis

• Porter's Analysis
• PESTEL Analysis
• Major Deals & Strategic Alliances Analysis

Companies Mentioned

• AWI Licensing LLC
• USG Corporation
• Knauf Gips KG
• ROCKWOOL International A/S
• Odenwald Faserplattenwerk GmbH (OWA)
• Saint-Gobain Gyproc
• SAS International
• KET Ceilings
• BYUCKSAN
• HIL Limited
• Hunter Douglas

For more information about this report visit https://www.researchandmarkets.com/r/azdy3e

View source version on businesswire.com: https://www.businesswire.com/news/home/20211015005388/en/