Ceiling Tiles Market Size Worth $14.01 Billion by 2030: Grand View Research, Inc.

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Nov 02, 2022, 06:00 ET

SAN FRANCISCO, Nov. 2, 2022 /PRNewswire/ -- The global ceiling tiles market size is expected to reach USD 14.01 billion by 2030, according to a new report by Grand View Research, Inc., registering a CAGR of 9.3% over the forecast period. This growth can be attributed to the rising commercial construction activities like the construction of new hospitals, office spaces, hotels, and malls. Ceiling tiles are majorly used for aesthetics and to provide acoustic and thermal insulation to buildings.

Key Industry Insights & Findings from the report:

Mineral wool ceiling tiles including wet felt, cast mineral fiber as well as fiberglass accounted for the largest market share in 2021 on account of their superior characteristics like less weight, acoustic insulation, recyclability, and thermal insulation.
Non-residential application dominated the market in 2021 owing to high investments in commercial space development in several developing countries, such as India, Brazil, and South Korea.
Asia Pacific is estimated to witness the fastest growth rate from 2022 to 2030 owing to rising consumer disposable income in several developing countries in the region, leading to the adoption of modern construction practices.
The market demand was hampered in 2020 owing to the COVID-19 pandemic. Governments in major economies, such as the U.S., India, South Korea, the U.K., Germany, and Italy, imposed restrictions on several ongoing construction projects to prevent transmission of the virus.
The market consists of several global and regional players providing a diversified range of products, thus leading to high competition in the industry.
Key strategies followed by market players include mergers & acquisitions and vertical integration to gain a competitive edge.

Read 108-page full market research report, "Ceiling Tiles Market Size, Share & Trends Analysis Report By Application (Residential, Non-residential, Industrial), By Product (Metal, Mineral Wool, Gypsum), By Region (EU, APAC, North America), And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Ceiling Tiles Market Growth & Trends

The raw materials utilized for making ceiling tiles like mineral wool, metal, cork, and gypsum have great noise-absorbing capability, less weight, and are much more eco-friendly as compared to conventional materials used for construction.

There is an increase in demand for decorative and acoustic interiors in office spaces, hotels, and hospitals. This has resulted in the demand for advanced design and printing technologies. Innovation for aesthetic enhancement of non-residential buildings is anticipated to open new opportunities for growth in terms of improving the energy efficiency of buildings, along with high acoustic insulation levels. The prominent companies use various distribution channels like third-party agreements, wholesale selling, online portals, and direct supply. Most of the major industry players collaborate with distributors in various countries having large market potential, for the geographic portfolio expansion and to acquire a larger customer base.

Ceiling Tiles Market Segmentation

Grand View Research has segmented the global ceiling tiles market based on product, application, and region:

Ceiling Tiles Market - Product Outlook (Volume, Million Square Meters; Revenue USD Million, 2021 - 2030)

Mineral Wool
Metal
Gypsum
Others

Ceiling Tiles Market - Application Outlook (Volume, Million Square Meters; Revenue USD Million, 2021 - 2030)

Non-residential
Residential
Industrial

Ceiling Tiles Market - Regional Outlook (Volume, Million Square Meters; Revenue USD Million, 2021 - 2030)

North America

U.S.
Canada
Mexico

Europe

Germany
U.K.
France
Russia
Spain
Italy
Austria
Poland
Belgium
Switzerland

Asia Pacific

China
India
Japan
South Korea
Indonesia

Central & South America

Brazil

Middle East & Africa

List of Key Players in Ceiling Tiles Market

AWI Licensing LLC
USG Corp.
Knauf Gips KG
ROCKWOOL International A/S
Odenwald Faserplattenwerk GmbH
Saint-Gobain Gyproc
SAS International
BYUCKSAN
HIL Ltd.
Hunter Douglas
KET Ceiling

Check out more related studies published by Grand View Research:

Ceramic Tiles Market - The global ceramic tiles market is expected to reach USD 656.25 billion by 2030, expanding at a CAGR of 7.1% during the forecast period, according to a new report by Grand View Research Inc. Increasing demand for aesthetic improvement in the flooring and walling is anticipated to support the demand for ceramic tiles during the forecast period.
Flooring Market - The global flooring market size is expected to reach USD 398.27 billion by 2030, according to a new report by Grand View Research, Inc. This growth can be attributed to rising construction activities like the construction of new hospitals, residential spaces, office spaces, malls, and hotels to cater to the demand of the growing global population.
Vinyl Flooring Market - The global vinyl flooring market size is expected to reach USD 42.2 billion by 2025, accelerating at a CAGR of 7.4% over the forecast period, according to a new report by Grand View Research Inc. High strength, superior water resistance, and lightweight properties offered by the product are expected to propel its demand in residential and commercial construction projects over the forecast period.

Browse through Grand View Research's Advanced Interior Materials Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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