Ceiling Tiles Market Analysis Of Product Price, cost and Profit

The global ceiling tiles market is expected to reach USD 10.08 billion by 2025, growing at a CAGR of 9.5%, according to a new report. Increasing construction of office spaces worldwide is likely to boost the usage of building materials including mineral wool, metal, and gypsum panels by the end of 2025.

Rise in the working population group, since the past few years has led to an increased construction spending in key Asia Pacific countries including China, Vietnam, Bangladesh, Singapore, India, Thailand, and Malaysia. Construction of new offices across the globe is estimated to peak in the future.

This scenario is likely to reflect in developing countries including China, Russia, and India. Furthermore, currently rising foreign investments coupled with government initiatives in these countries is projected to boost the construction of business centers and IT parks in the recent future. These factors are considered to influence the consumption of construction materials including ceiling tiles and hence boost their market growth.

Emerging regions especially Latin America and Middle East & Africa are expected to depict above average industry growth owing to development of the hotel sector as a result of increasing government initiatives regarding the tourism industry in these regions.

Further Key Findings From the Study Suggest:

  • In terms of revenue, the residential segment is expected to rise at a CAGR of 9.4% over the forecast period. This application segment constituted a revenue share of 4.6% in 2016.
  • Technological breakthrough in the field of low VOC panels and recyclable tiles is estimated to offer lucrative growth prospects in the industry by the end of 2025. Furthermore, development of three dimensional ceiling tiles is another important milestone that is expected to open new avenues in the industry.
  • Companies are aiming at achieving optimum business growth through fully integrating their business operations across the product value chain. For instance, USG Corporation is engaged in manufacturing ceiling tiles as well as its precursor gypsum board and has strong distribution network.
  • In June 2017, Armstrong Ceiling Solutions launched a new range of ceiling tiles under the New Dune eVo brand name. These tiles are 100% recyclable and exhibit well improved aesthetics and acoustic performance.
  • In April 2014, the Rockfon North America, a ROCKWOOL International subsidiary achieved the UL Environment’s GREENGUARD Gold certification for its low VOC products. This has enhanced the market position of the company as a key sustainable player in the past years.

Table Of Content

  • Chapter 1. Methodology and Scope
  • Chapter 2. Executive Summary
  • Chapter 3. Ceiling Tiles Market Variables, Trends & Scope
  • Chapter 4. Ceiling Tiles: Type Estimates & Trend Analysis
  • Chapter 5. Ceiling Tiles: Test Type Estimates & Trend Analysis
  • Chapter 6. Ceiling Tiles: Regional Estimates & Trend Analysis
  • Chapter 7 Strategy Framework

 

Ceiling tiles market – Booming construction sector bolsters Growth

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The global market for ceiling tiles is a medley of a large number of medium, large, and small-sized companies, says Transparency Market Research (TMR) in a new report. The leading four names in the market, Armstrong World Industries Inc., USG Corporation, Saint-Gobain S.A., and Knauf held 33.9% of the overall market in 2015 on account of their unwavering winning strategies. This includes consistent product innovation and use of technology for improvements in existing products. To further boost their market presence, these companies are engaged in the development of environmentally sustainable products.

As per the report by TMR, the global ceiling tiles market is projected to reach a valuation of US$51.3 bn until the end of 2024, considerably up from its evaluated value of US$21.6 bn in 2015. The global ceiling tiles market is expected to rise at a CAGR of 10.1% for the forecast period between 2016 and 2024.

North America is expected to lead amongst other key regional segments in the ceiling tiles market. The region is expected to hold a share of 31.8% by the end of 2024. In terms of product, the segment of mineral wool is expected to display substantial growth expanding at a CAGR of 10.2% between 2016 and 2024. The growth of this segment is mainly because of environmentally sustainable new construction undertakings in developed as well as developing economies.

Environmental Benefits of Ceiling Tiles over Conventional Products Boost Uptake

Due to rampant industrialization and urbanization, construction activities have received a boost across the world. In particular, large investments for infrastructural development in emerging economies of Asia Pacific and South America is leading to a large number of construction undertakings. These factors are directly influencing the demand for ceiling tiles on account of cost and other advantages such as acoustics and thermal insulation. Therefore, ceiling tiles are best suited for low-cost accommodations that are designed for low-income group individuals.

Some other factors stoking growth of the ceiling tiles market are rising GDPs, increasing disposable incomes, demand for better designs and aesthetics, and improved standard of living. At present, ceiling tiles find applications in residential, non-residential, and industrial spaces as these tiles are recyclable. Due to the advantage of reducing carbon footprint, ceiling tiles are increasingly being adopted for environmentally sustainable construction in place of conventional ones. Amongst several types of ceiling tiles, mineral wool ceiling tiles are anticipated to garner significant market share due to their low cost advantage to landfills. Thus, they provide a sustainable solution for waste management over other products.

Availability of Par Excellence Substitutes Challenges Growth

However, the growth of the global ceiling tiles market is restrained due to several factors. The availability of substitutes such as asphalt and mortar that have been identified to be at par with ceiling tiles is expected to hamper the market’s growth. Furthermore, fluctuating raw material prices is challenging the growth of ceiling tiles market. For instance, prices of mineral wool and gypsum have been consistently rising since 2012, which has negatively impacted the cost of ceiling tiles.

The global ceiling tiles market is segmented as follows:

Ceiling Tiles Market – Product Analysis

  • Mineral Wool
  • Metal
  • Gypsum
  • Others

Ceiling Tiles Market – Application Analysis

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

The review presented is based on the findings of a report by Transparency Market Research, titled “Ceiling Tiles Market (Product – Mineral Wool, Metal, and Gypsum; Application – Residential, Non-residential, Industrial, Hospitality, Commercial, and Institutional) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024.