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(Construction.IndustryNews247.Com, November 04, 2018 ) According to the new market research report ''Ceiling Tiles Market by Material Type (Mineral Fiber, Metal and Gypsum), Property Type (Acoustic and Non-Acoustic), End User (Residential and Non-Residential), and Region (NA, EU, APAC, MEA, and SA)-Global Forecast to 2022", published by MarketsandMarkets™, the ceiling tiles market is projected to grow from USD 7.31 billion in 2017 to USD 9.88 billion by 2022, at a CAGR of 6.2% between 2017 and 2022.
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The increasing use of ceiling tiles in construction projects is one of the most significant factors projected to drive the growth of the ceiling tiles market.
Based on material type, the mineral fiber segment of the ceiling tiles market is projected to grow at the highest CAGR during the forecast period, in terms of value and volume.
Mineral fiber ceiling tiles include stone wool, glass wool, wet felted mineral wool, and mineral wool tiles. These ceiling tiles are available at low costs and are easy to install, repair, and maintain. Mineral fiber ceiling tiles are made available in various sizes, colors, and textures. They are recyclable in nature and are used in various non-residential applications, such as offices, institutions, hospitals, and retail stores. The increasing applicability of mineral fiber ceiling tiles, owing to their superior properties, is projected to drive the growth of the mineral fiber segment of the ceiling tiles market.
Browse and in-depth TOC on ''Ceiling Tiles Market''
74 - Tables
38 - Figures
120 - Pages
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The non-residential end user segment is projected to lead the ceiling tiles market during the forecast period, in terms of value and volume.
Ceiling tiles are increasingly used in residential and non-residential buildings. The non-residential end user segment is projected to lead the ceiling tiles market between 2017 and 2022 both, in terms of value and volume. Advantages of ceiling tiles include visual attractiveness, sound blocking, sound absorption, and easy installation. Ceiling tiles also offer several other benefits, such as moisture absorption, fire resistance, and durability, which, in turn, is contributing to the increased demand for ceiling tiles in the building & construction industry.
North America is estimated to be the largest market for ceiling tiles in 2017, in terms of value.
North America is estimated to be the largest market for ceiling tiles in 2017. The growth of the North American ceiling tiles market can be attributed to the expansion of the building & construction industry and presence of well-established ceiling tiles manufacturers, such as Armstrong World Industries (US), in this region. Additionally, increase in the number of residential and non-residential construction activities in various North America countries is contributing to the growth of the North American ceiling tiles market.
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Key players operating in the ceiling tiles market include Armstrong World Industries (US), USG Corporation (US), Hunter Douglas (Netherlands), SAS International (UK), CertainTeed (US), Rockfon (Denmark), Odenwald Faserplattenwerk GmbH (Germany), Knauf (Germany), Saint-Gobain Gyproc (France), and Georgia-Pacific (US).
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