San Francisco, Oct 26 The
global ceiling
tiles market is expected to reach USD 10.08 billion by 2025,
growing at a CAGR of 9.5%, according to a new report by Grand View Research,
Inc. Increasing construction of office spaces worldwide is likely to boost the
usage of building materials including mineral wool, metal, and gypsum panels by
the end of 2025.
Rise
in the working population group, since the past few years has led to an
increased construction spending in key Asia Pacific countries including China,
Vietnam, Bangladesh, Singapore, India, Thailand, and Malaysia. Construction of
new offices across the globe is estimated to peak in the future.
This
scenario is likely to reflect in developing countries including China, Russia,
and India. Furthermore, currently rising foreign investments coupled with
government initiatives in these countries is projected to boost the
construction of business centers and IT parks in the recent future. These
factors are considered to influence the consumption of construction materials
including ceiling tiles and hence boost their market growth.
Emerging
regions especially Latin America and Middle East & Africa are expected to
depict above average industry growth owing to development of the hotel sector
as a result of increasing government initiatives regarding the tourism industry
in these regions.
Browse full research report on Ceiling Tiles Market: www.grandviewresearch.com/industry-analysis/ceiling-tiles-market
Further key findings from the report suggest:
- In terms of
revenue, the residential segment is expected to rise at a CAGR of 9.4%
over the forecast period. This application segment constituted a revenue
share of 4.6% in 2016.
- Technological
breakthrough in the field of low VOC panels and recyclable tiles is
estimated to offer lucrative growth prospects in the industry by the end
of 2025. Furthermore, development of three dimensional ceiling tiles is
another important milestone that is expected to open new avenues in the
industry.
- Companies are
aiming at achieving optimum business growth through fully integrating
their business operations across the product value chain. For instance,
USG Corporation is engaged in manufacturing ceiling tiles as well as its
precursor gypsum board and has strong distribution network.
- In June 2017,
Armstrong Ceiling Solutions launched a new range of ceiling tiles under
the New Dune eVo brand name. These tiles are 100% recyclable and exhibit
well improved aesthetics and acoustic performance.
- In April
2014, the Rockfon North America, a ROCKWOOL International subsidiary
achieved the UL Environment’s GREENGUARD Gold certification for its low
VOC products. This has enhanced the market position of the company as a
key sustainable player in the past years.
Browse more reports of this category
by Grand View Research: www.grandviewresearch.com/industry/automotive-and-aerospace-interior-materials
Grand
View Research has segmented the global ceiling tiles market on the basis of
product, application, and region:
Product
Outlook (Volume, Million Square Meters; Revenue, USD Million, 2014 - 2025)
- Mineral wool
- Metal
- Gypsum
- Others
Application
Outlook (Volume, Million Square Meters; Revenue, USD Million, 2014 - 2025)
- Commercial
Construction
- Residential
Construction
- Industrial
Construction
Regional
Outlook (Volume, Million Square Meters; Revenue, USD Million, 2014 - 2025)
- North America
- U.S.
- Europe
- Germany
- UK
- Asia Pacific
- China
- India
- Central &
South America
- Brazil
- Middle East
& Africa
Browse press release of this report
by Grand View Research: www.grandviewresearch.com/press-release/global-ceiling-tiles-market
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company, registered
in the State of California and headquartered in San Francisco. The company
provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more information:
www.grandviewresearch.com
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