Global Ceiling Tiles Market Size, Sector / Industry Report & Analysis 2020, & Forecast 2021-2026 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Ceiling Tiles Market


The global Ceiling Tiles market size is projected to reach US$ 10.82 billion by 2026, from US$ 6.34 billion in 2020, at a CAGR of 9.3% during 2021-2026. The market is anticipated to be driven by growing commercial construction activities such as institutional buildings, office complexes, and healthcare facilities across the globe.

The rising demand for the product with changing consumer lifestyle, increasing disposable income, and demand for thermal and acoustic insulation are expected to drive the growth in application industries. Furthermore, availability of innovative construction solutions that are durable and require low maintenance, is expected to impact the growth favorably.

The recovery of construction industry in U.S. has a positive impact on demand for ceiling tiles with increasing commercial construction projects in the country. In addition, changing consumer preferences coupled with increasing options for decorative and soundproof interiors in commercial buildings is expected to promote demand for mineral wool segment in the country.

The market depicts a strong presence of numerous raw material suppliers that engage in offering metals, mineral fiber, fiberglass, gypsum, wood, and plastics. In addition, there exist a significant level of backward integration where the manufacturers are also the prominent raw material producers thereby lowering the bargaining power of suppliers.

Rising adoption of environmentally friendly tiles that are certified as per the green building standards for emitting low Volatile Organic Compounds (VOCs) are expected to influence the use of conventional products over the forecast period. Prominent producers are enhancing their product portfolio by launching low-VOC emitting and asbestos-free product lines in the market.

Rising awareness regarding the use of eco-friendly building materials is estimated to propel the green retrofit or renovation activities of existing constructions in developed economies from North America and Europe. In addition, increasing adoption of recycling and reuse technologies by major players is expected to drive market growth.

Market Segmentation, Outlook & Viewpoint: Global Ceiling Tiles Market

Product Market Segmentation & Outlook (Volume, Million Square Meters; Revenue, USD Million, 2014 - 2025)

  
Mineral Wool
  
Metal
  
Gypsum
  
Others

Application Market Segmentation & Outlook (Volume, Million Square Meters; Revenue, USD Million, 2014 - 2025)

  
Non-Residential
  
Residential
  
Industrial

Key Players, Recent Developments & Regional Insights: Global Ceiling Tiles Market

Mineral wool segment which includes wet felt, cast mineral fiber, and fiberglass is the largest product segment and accounted for 42.2% of revenue share in 2018. The superior performance attributes of the products such as thermal and acoustic insulation, light weight, and recyclability have resulted in increased demand from application industries.

Steel, aluminum, and tin are the majorly used metals for manufacturing ceiling tiles. These metals offer crisp, clean, and sophisticated display of interiors and they are available in a wide variety of colors. Furthermore, powder-coated metal ceilings provide tough finishing along with resistance to corrosion, thereby driving the product demand.
Gypsum, as a material for ceiling tiles, accounted for the second largest revenue share in 2018 and is expected register a CAGR of 9.3% over the forecast period. These tiles provide numerous benefits such as reduced weight on the structure and ease of installation, maintenance, and repair. It is majorly used in modern offices across the U.S. to enhance aesthetics by installing colored gypsum boards.

Rising demand for varieties of ceiling tiles is expected to increase pressure on raw materials such as mineral wool, gypsum, and metals. Other ceiling tiles including wood, polycarbonate, PVC, and composite materials are anticipated to witness stabilized growth during the forecast period owing to increasing utilization of mineral fiber, fiberglass, and metal ceiling tiles.

Application Insights

Non-residential applications segment contributes the largest market share of 92.1% in terms of revenue in 2018. Strong growth in commercial building construction activity across the globe with the revival of the non-residential construction sector in U.S. is expected to boost the consumption of building materials thereby driving the growth of the market.

Ceiling tiles are majorly used in various commercial spaces such as in retail, hospitality, and healthcare industries. They are also used in corridors, medical hallways, operation theatres, clinics, and diagnostic centers. These materials are used for highlighting the overall aesthetics and interiors of non-residential buildings as well as to offer improved acoustic and thermal insulation.

Residential applications are likely to provide significant scope of growth for the ceiling tiles market owing to the rising construction spending on renovation and repair in the housing sector. Strong growth in residential building construction activity across the globe with rural to urban migration in developing economies is expected to stimulate demand over the projected period.

Rise in the construction of green buildings in the developed economies from North America and Europe is expected to boost the consumption of lightweight and eco-friendly ceiling tiles. On account of stringent VOC regulations and policies over building materials such as asbestos sheets, carpet backing, and padding materials, the usage of low VOC ceiling tiles is expected to increase from application industries over the projected period.

Regional Insights

North America accounted for 33.9% of the global market share in terms of revenue in 2018 on account of increased adoption of products from application industries. Technological breakthrough in this area as well as the rising need for acoustic insulation has played a vital role in increased adoption of ceiling tiles in the region.
U.S. accounted for the major revenue share in global market in 2018 owing to changing consumer preferences coupled with increasing options for decorative and soundproof interiors in commercial buildings such as offices and business centers. Residential growth, in terms of single-family housing, is a crucial factor driving the regional growth.

Europe accounted for the second-largest market share in terms of revenue in 2018. The rise in product demand can be accredited to the availability of innovative and sustainable construction solutions, easy installation techniques, the presence of well-established construction industry, and strict regulations over particulate emissions.
Asia Pacific is expected to emerge as market leader witnessing a CAGR of 10.9% over the forecast period on account of rapid industrialization and rise in consumer disposable income. Furthermore, population growth, urbanization, and rise in renovation activities in Southeast Asia is expected to boost the regional product demand.

Ceiling Tiles Market Share Insights

The market exhibits a large number of players providing a range of product varieties leading to high competitive rivalry. The key players operating in the market include USG Corporation; Hunter Douglas, Inc.; Saint-Gobain S.A.; Armstrong World Industries, Inc.; and Rockwool International A/S with their strong distribution network.
Major players have a strong presence in developed economies from North America, Europe, and some parts of Asia Pacific including Australia. High degree of backward and forward integration of prominent manufacturers persist in the global market which has intensified the competition thus making it difficult for the new entrants.

Key Insights Covered: Global Ceiling Tiles Market
1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Ceiling Tiles industry.
2. Global major manufacturers" operating situation (sales, revenue, growth rate and gross margin) of Ceiling Tiles industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Ceiling Tiles industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Ceiling Tiles industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Ceiling Tiles industry.

Research Methodology: Global Ceiling Tiles Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other