Ceiling tiles are construction materials used to cover the ceiling of a room or space. They are composed of many materials, including mineral fibres, metals, gypsum, and polymers, and come in a variety of sizes, forms, and colours. They are generally utilised to enhance a space’s aesthetic appeal, offer acoustic insulation, and conceal wiring and ductwork.Several reasons are driving the worldwide ceiling tiles market, including the expansion of the construction sector, increased demand for energy-efficient buildings, and the rising trend of sustainable and eco-friendly building materials. Furthermore, enhanced indoor air quality and noise reduction in commercial and residential spaces are likely to fuel market expansion in the future years.
Because of the high level of construction activity and the implementation of sophisticated building technologies, North America and Europe are projected to hold considerable market shares. Due to rising demand for infrastructure development and urbanisation in countries such as China and India, the Asia-Pacific region is likely to have the biggest growth potential in the future years.
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5 Key Projections on Future of Ceiling Tiles Market for Forecast Period 2018-2027
1- The market in Asia-Pacific excluding Japan (APEJ) is expected to spearhead the market in terms of sales expansion. Increasing foreign investments particularly in India and Southeast Asia, coupled with robust construction activities apropos information technology parks and new offices that is driven by the rise in working populace is a key factor propelling the market expansion in APEJ.
2- Among product types, mineral fiber will remain sought-after in the market on account of their noise reduction characteristics.
3- Commercial application of ceiling tiles will continue to account for leading revenue share of the market. This can be mainly attributed to commercial use-specific product launches by companies, for example – Rockfon’s new stone wool ceiling panel for application in auditoriums, theatres, and restaurants.
4- Surface mount installation will remain preferred for ceiling tiles on their back of their operational convenience and user-friendly attributes.
5- Based on form, laminated ceiling tiles will continue to lead the market, in terms of both value and volume.
Competitive Landscape
The market for ceiling tiles is developing quickly, which increases competition for major players. Key market players have started introducing a wide range of products in order to take advantage of the upcoming opportunities.
For instance :
- In 2020, Knauf will introduce a wide variety of new ceiling tiles, including AQUAPANEL® Cement Board Indoor, KNAUF CLEANEO ACOSTIC, and others.
- 2019 saw the launch of a new line of ceiling tiles from SAS International, including SAS Metal Ceiling Tiles, SAS Open Cell Ceilings, SAS Suspended Timber Ceilings, and others.
Key Companies Profiled
- Armstrong World Industries, Inc.
- Saint-Gobain S.A.
- USG Corporation
- Knauf
- Techno Ceiling Products
- ROCKFON
- Mada Gypsum
- Odenwald Faserplattenwerk GmbH
- SAS International
- New Ceiling Tiles LLC
Acquisitions and product innovation will continue to be the main methods used by market players to expand.
The goal of ceiling tile producers is to grow their company through the application of key strategies like product innovation and acquisitions. The specialty ceiling panels made by USG Boral called GeometrixTM, intended for high-end design projects, show promise for making even the most intricate ceiling designs possible. Geometrix 3D metal-based specialty ceiling panels, which are made of lightweight aluminum, give ceiling spaces an unexpected dimension and distinctive perspective. This world-leading ceilings and plasterboard joint venture has also made Geometrix products with high recycled content (HRC) available.
A recent announcement regarding the acquisition of Ceilings Plus by USG Corporation was made. For the right to purchase this top manufacturer of specialty ceiling products, USG will shell out close to US$ 52 Mn. By incorporating Ceilings Plus, USG is likely to expand the range of products it offers, accelerating innovation and strengthening their position in the specialty ceilings market. By partnering with USG, Ceilings Plus hopes to advance their ongoing evolution by giving customers access to more advanced manufacturing technologies and a wider range of market segments. In the upcoming years, the market for ceiling tiles is likely to grow as a result of such innovation and acquisition activities.
Key questions covered in the Ceiling Tiles Market:
- What are ceiling tiles and what are their primary applications?
- What are the different types of ceiling tiles available in the market?
- What is the market size and growth rate of the ceiling tiles market?
- What are the latest trends and developments in the ceiling tiles market?
- What are the key drivers and challenges affecting the growth of the market?
- Which geographic regions are showing the highest growth potential for the market?
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Who are the major players in the ceiling tiles market and what are their strategies?
