The global ceiling tiles market size was estimated at USD 5.93 billion in 2020. It is expected to expand at a compounded annual growth rate (CAGR) of 8.8% from 2021 to 2028. The market is expected to be driven by growth in the commercial construction industry driven by the construction of new office complexes, institutional buildings, healthcare facilities, and malls across the globe. The market growth is expected to rise with increasing demand for acoustic and thermal insulation, rising disposable income in developing countries, and changing consumer preferences towards aesthetics of the home and office buildings.
The market involves a strong presence of several large and small level raw material suppliers for mineral fibers, metals, gypsum, fiberglass, plastics, and wood. The manufacturers are adopting backward and forward integration strategies, to gain control over raw material quality to be used for making tiles and also to expand their customer reach by controlling over distribution networks.
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Key Player Mentioned:
- AWI Licensing LLC
- USG Corporation
- Knauf Gips KG
- ROCKWOOL International A/S
- Odenwald Faserplattenwerk GmbH
- Saint-Gobain Gyproc
- SAS International
- BYUCKSAN
- HIL Limited
- Hunter Douglas
- KET Ceilings
Product Segment Analysis:
- Mineral Wool
- Metal
- Gypsum
- Others
Application Segment Analysis:
- Non-Residential
- Residential
- Industrial
The growing awareness regarding the usage of eco-friendly building materials is estimated to promote green building practices in developed economies from North America and Europe, and major developing regions in the Asia Pacific. Furthermore, the rising adoption of reuse and recycling of building materials by key players is expected to propel market growth in the forthcoming years.
Regional Segment Analysis: North America, Europe, Asia Pacific, Latin America, and Mideast and Africa
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The Industry is expected to witness substantial growth, owing to investment by several companies such as Armstrong Ceiling, Knauf, and ROCKWOOL INSULATION A/S for the development of ceiling tiles with high fire resistance properties. This can be attributed to the rising trends for safe construction of residential, commercial, and industrial complexes.
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