Ceiling Tiles Market Insights:
Ceiling panels or tiles are used during construction to improve the aesthetics and acoustic insulation of the building. Decorative exteriors and interiors trends have prompted the growth of this market. Advanced designing and printing technologies have added to the trends and are now an important part of building materials market.
For improving aesthetic features, significant changes and advancements in products such as carpet, floor, and wall tiles among others have been major concerns. Large and small companies are a part of this industry. To further improve the demand for the market, companies use environmentally sustainable products.
Ceiling Tiles Market - Product Insights:
The major product segments are mineral wool, metal, and gypsum. Mineral wool contributed more than 40% to the market share in 2016. It is used for interior decoration widely in residential and non-residential buildings.
Mineral wool provides several advantages such as soundproof, fire resistance, highly durable, and easy to install among others. They are available in wide range of thickness, size, and density. Owing to its performance, demand for mineral wool is expected to rise in the forecast period. Second largest product in this industry are the metal based ones. Aluminium, steel, and tin are the metals used for metal ceiling fiber.
Ceiling Tiles Market - Application Insights:
Key application segments of the industry are commercial, residential and industrial. The commercial application segment saw the fastest growth in 2016 and is expected to grow in the forecast period. The sub-division for the above includes healthcare centers, grocery stores, corporate offices, restaurants, and airport terminals among others.
Second largest product demand in 2016 was of residential ceiling materials. Generally, metal panels and mineral fibers are used in the residential construction operations. Increasing repairs in the housing sector in North America is expected to promote the growth of this industry in the forecast period.
Ceiling tiles are increasingly being adopted for the environmentally sustainable construction to reduce carbon footprint instead of the conventional building. They provide a sustainable waste management solution to the industry, hence creating a market for the manufacturers.
Ceiling Tiles Market: End-Use Landscape
The end-user landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase over the coming years. Some leading consumers of ceiling tiles markets are - hospitals, offices, gymnasiums, schools and commercial stores among others.
Ceiling Tiles Market - Regional Insights:
North America accounted for more than 30% of the revenue in 2016. It is the fastest growing region in the forecast period owing to the well-established non-residential and residential sub-sectors in the construction field.
Asia Pacific is expected to grow over the forecast period owing to the foreign investments in this market especially in India and other Southeast Asian countries. Rising population in this region is expected to expand the construction activities of residencial sector and technology parks leading to the growth of the industry.
Favourable scope for the industry is expected from the Middle East & Africa and Central & South America regions in the forecast period. It is mainly expected to grow in Brazil, South Africa, and the GCC countries.
Ceiling Tiles Market - Competitive Insights:
Ceiling tiles are expected to face competition with its substitutes such as asphalt and mortar which are at par with this market. The raw material price fluctuation may also lead to trouble in staying stable in the market. The manufacturers are investing in research and development to keep the market growing.
Key players in the market are Armstrong World Industries, Inc., Saint-Gobain S.A., USG Corporation, ROCKWOOL International A/S, Odenwald Faserplattenwerk GmbH, SAS International, Burgess CEP, Hunter Douglas, and Knauf among others.
Please note: This is not an exhaustive list of companies profiled in the report.
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The global ceiling tiles market research report has been studied from the year 2016 till 2025. However, the CAGR provided in the market study is from the year 2017 to 2025. The market research methods involved three stages: Desk research, Primary survey research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the industry analysis; industry trends; market analysis; market trends; market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the ceiling tiles market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, VPs, CEOs, COOs, financial consultants, business consultants, strategy consultants, project management consultants, business management consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, demand forecasting, SWOT analysis of the company’s manufacturing ceiling tiles, and customer analytics.