Global Ceiling Tiles Market - Size, Share and Forecast (2017 - 2022)
Increasing construction activities has boosted the demand for ceiling tiles. Ceiling tiles are sound absorbing and lightweight construction materials, which are used to cover a ceiling area. They are used in the interior of buildings, placed in an aluminum grid to enhance the acoustics of a room while providing thermal insulation. Ceiling tiles are generally used in a retail store, offices, hospitals, building perimeter, hotels, and transportation terminals.The major driving factor for the ceiling tiles market is the growing demand from construction and infrastructure industries, mainly in developing countries, for ceiling tiles. Another important driver for this market is the excellent sound absorbent properties of ceiling tiles. This market is further boosted by the reduced carbon impacts in the processing of raw materials for manufacturing ceiling tiles. Based on raw material type, the mineral wool segment holds the largest share. Gypsum tiles have a scope for growth due to their biodegradable properties. Based on the end-user industry, commercial sector segment registered the largest market share.The global ceiling tiles market is expected to witness a stiff competition from the easily available and relatively economical substitutes to ceiling tiles, such as, mortar and asphalt. Increasing prices of its raw materials have also negatively impacted the ceiling tiles market.
Areas with Scope for Ceiling Tiles MarketGeographically, North America registered the largest market share, in terms of consumption of ceiling tiles, followed by Europe. These regions are expected to witness moderate growth during the forecast period, due to the growing demand from commercial buildings and healthcare industries. The emerging economies of Asia-Pacific, such as, China and India, are expected to experience demand growth for ceiling tiles, as the construction industry gains momentum due to urbanization and high population. This demand growth is anticipated to offer lucrative opportunities to the ceiling tiles market.
Notable Developments in the Market
• In June 2017, Armstrong World Industries, Inc. acquired the business and assets of Tectum Inc., an Ohio-based manufacturer of acoustical ceiling, wall, and structural solutions for commercial building applications.
• In July 2017, OWA launched a new product, Brillianto A. It can be used for large spaces where high-quality comfort is needed for a limited budget.
Why purchase the Global Ceiling Tiles Market Report?
• Know about: the latest regulations & policies of ceiling tiles market.
• Analyzing various market perspectives with the help of Porter’s five forces analysis.
• Which segment of the ceiling tiles market, based on end-user and product type, is expected to dominate the market?
• Which of the regions will witness the fastest growth during the forecast period?
• Identify the latest developments, market shares, and strategies employed by the major market players, such as:
o Armstrong Worldwide Industries Inc.
o USG Corporation
o Saint Gobain SA
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