Ceiling Tiles Market By Application (Residential, Commercial, Industrial), By Type (Mineral Wool, Metal, Gypsum, Others) & By Region - Global Forecast To 2026
15 January 2018
- find_in_page Our Research Methodology is based on the following main points:
- Data Collections and Interpretation
- Data Validation
- Final Projections and Conclusion
The global ceiling tiles market is estimated to value US$ 4,228.6 Mn, and is projected to register a CAGR of over 7% in terms of value during forecast period 2017–2026. The report offers in-depth insights, revenue details, and other vital information regarding the global ceiling tiles market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2026. The report includes PEST analysis, Porter’s Five Forces analysis, and opportunity map analysis for in-depth understanding of the market. The report offers insightful and detailed information regarding the various key players operating in the global ceiling tiles market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, SWOT analysis, acquisitions & mergers, and market footprint. The global ceiling tiles market is segmented in product type, application, and region.
Ceiling tiles are produced in various colors, patterns, shapes, sizes, and styles, using different materials and processes. Ceiling tiles enable better interior designing, and also absorb sound and provide insulation etc.
Ceiling is the overhead inside lining of a room. Some of the other features of ceiling tiles include fire resistance, thermal insulation, and easy maintenance and repair/replacement.
Global Ceiling Tiles Market Dynamics:
Ceiling tiles industry uses naturally occurring, processed raw materials instead of virgin raw materials. Use of recycled raw materials reduces production costs, thus allowing manufacturers and vendors to sell the products at lower cost, as compared to products manufactured using virgin materials This is one of the major factor expected to drive growth of the global ceiling tiles market. In addition, Brazil, Russia, India, China, and South Africa (BRICS) countries are expected to witness increasing infrastructure development, and the number of commercial buildings are expected to increase at a substantial rate over the forecast period. This is expected to further drive growth of the global market significantly over the forecast period.
Report Coverage and Deliverables
High investments required for installation of ceiling tiles is expected to hamper growth of the global ceiling tiles market. In addition, for manufacturing of ceiling tiles, crude oil is mainly used. Constantly fluctuating crude oil prices, and concerns regarding depletion of crude oil is expected to create challenges for manufacturers operating in the ceiling tiles industry, thereby restraining growth of the global ceiling tiles market.
Technological advancements in manufacturing such as low-volatile organic compound (VOC) ceiling panels is expected to create lucrative opportunities for manufacturers to increase customer base in developing countries in the coming years.
Global Ceiling Tiles Market Segments Analysis:
Analysis by Product Type:
Among the four product types, mineral wool segment is expected to account for major share of over 40% in terms of revenue in 2017, and is expected to continue its dominance during the forecast period. Mineral wool ceiling tiles are produced using biodegradable mineral wool and other natural components. Mineral wool tiles are environment-friendly and contains no harmful or toxic substances.
Gypsum ceiling tiles segment is expected to register highest CAGR of 7.9% during the forecast period owing to its properties such as environmental friendly, light weight, high quality, fireproof, waterproof and corrosion-resistant and decorative.
Analysis by application:
Among the three application segments, the commercial segment in the global ceiling tiles industry is estimated to account for majority revenue share of more than 50 % by end of 2017, owing to emerging markets that are expected to experience infrastructural growth, hence commercial segment is projected to grow at a substantial rate over the forecast period. This is the most attractive segment for the ceiling tiles manufacturers to invest and expand their business.
Analysis by Region:
The market in the North America is estimated to account for highest revenue share of over 50% by 2017 end, and is expected to continue its dominance over the forecast period. This estimated high revenue contribution from North America market to the global market is due to presence of major manufacturers, and rapid infrastructure development in various countries in this region.
Increasing adoption of ceiling tiles in residential sector and product offering by major players is expected to drive growth of the North America ceiling tiles market. For instance, Armstrong offers exclusive product line such as Baltic, Pinehurst, and Wellington for applications in residential replacement sector.
In addition, mergers and acquisitions by major players are expected to create potential opportunities to offer wide range of product offering. For instance, with the acquisition of Chicago Metallic, Rockfon provides customers a complete ceiling system, combining Rockfon stone wool and specialty metal ceiling panels with Chicago Metallic suspension systems.
Increased spending on construction and development activities by governments and private organizations in countries in the region is another factor expected to aid in growth of the North America ceiling tiles market.
In October 2017, for instance the U.S. Census Bureau reported US$1,241.5 Bn (seasonally adjusted annual rate) as total construction spending for the month of October, which was estimated to be 2.9% increase from the previous year. Public sector spending was estimated at US$ 291.6 Bn (seasonally adjusted annual rate), while private sector spending was estimated to be US$ 949.9 Bn (seasonally adjusted annual rate).
According to a report published by Statistics Canada, in July 2017 total investment in new housing construction was estimated to be US$ 4.9 Bn, which was estimated to be an increase of 6.4% as compared to July 2016.
The market in Middle East & Africa accounted for a revenue share of over 2% in the global composite panels market in 2016. High adoption rate of gypsum ceiling tiles in major construction and development projects in the Middle Eastern countries, coupled with high presence of domestic and international manufacturers and distributors of ceiling tiles in countries in the region is a major factor driving growth of the Middle East & Africa region.
Global ceiling tiles market segmentation by product type:
- Mineral Wool
Global ceiling tiles market segmentation by application:
Global ceiling tiles market segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- Armstrong Worldwide Industries Inc.
- Saint-Gobain S.A.
- USG Corporation
- SAS International
- Odenwald Faserplattenwerk GmbH
- Chicago Metallic Corporation
- Shandong Huamei Building Materials Co.
- 1.0 Chapter 1
- 1.1 Preface
- 1.2 Assumptions
- 1.3 Abbreviations
- 2.1 Report Description
- 2.1.1 Market Definition and Scope
- 2.2 Executive Summary
- 2.2.1 Market Snapshot, By Product Type
- 2.2.2 Market Snapshot, By Application
- 2.2.3 Market Snapshot, By Region
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