The Global Ceiling Tiles Market size is predicted to reach US$ 8.61 billion by 2026, registering with a CAGR of 9.2% during 2021-2026.
With new office complexes, healthcare facilities, institutional buildings, and malls being erected throughout the world, the commercial construction industry is expected to boost the global ceramic tiles market in the upcoming years. Furthermore, the global ceramic tiles market is predicted to expand as the demand for acoustic and thermal insulation grows and rising disposable income in developing countries, shifting consumer preferences for home and office building aesthetics. In addition, the adoption of sustainable and creative construction solutions incorporating eco-friendly materials for ceilings, floors, and walls is expected to increase ceramic tiles market dynamics over the forecast period. Furthermore, launching various new commercial construction projects in the United States, including offices, healthcare, educational facilities, airports, and hotels, is predicted to boost market expansion. Furthermore, it is expected that changes in consumer preferences in commercial space designs and developing demands for soundproof interiors will encourage the use of mineral wool-based ceiling tiles in the country, which propels market growth in the future.
Global Ceiling Tiles Market Drivers:
Green construction practices are expected to spread across industrialized economies in North America and Europe and key developing nations in the Asia Pacific as people become more aware of the benefits of using environmentally friendly building materials. In addition, leading players' increasing use of reuse and recycling of building materials is likely to drive market expansion in the future years. The growing emphasis on interior and exterior design in commercial, industrial, and other businesses is driving the supply-demand curve for ceiling tiles upward worldwide. Ceiling tile manufacturers are thriving as the building and construction industry continues to grow at a breakneck pace. While laminated ceiling tile providers have seen a jump in demand, sales are expected to continue to grow in the coming years as demand from the residential, commercial, hospitality, and other sectors grow. In addition, demand for diverse interior and exterior decoration elements has increased significantly due to rapid improvements in the building and construction industry. Therefore, a substantial expansion in hospitality, residential, commercial, and others has fueled demand for ceiling tiles, registering a CAGR of roughly 8.5 percent over the last many years. The need for ceiling tiles is rapidly increasing worldwide, thanks to the continually growing building and construction industry. According to research provided by the Construction Association of America, the construction sector is a crucial contributor to the US economy, with over 680,000 businesses and over 7 million employees annually constructing projects worth US$ 1.3 trillion. Therefore, these features tend to increase the growth of the global ceramic tiles market.
While ceiling tiles are an essential aspect of interior design, many small to medium residential complexes and institutions cannot afford them. In addition, ceiling tile installations, including drop/suspended, surface mounted, and others, are time-consuming and require ongoing care, which adds to the expense. Furthermore, the COVID-19 pandemic, which is expected to occur in 2020, has harmed the building, construction, and remodeling industries, leading to decreased demand for ceiling tiles. As a result, consumers' purchase patterns or predisposition toward various services such as interior decorating have changed due to the pandemic's abrupt emergence since the focus has shifted, which hinders the global ceiling tiles market growth during 2021-2026. Furthermore, traditional ceiling tile manufacture is frequently a wasteful process because it requires many raw materials, ultimately wasted in the environment without treatment. In addition, plastic and metals are frequently non-biodegradable, which can be extremely harmful to the environment. As a result, ceiling tile adoption is likely to be limited to some extent.
Recent Developments in the Global Ceiling Tiles Market:
The costs of high ocean freight and container shortage have started affecting the ceramic tile manufacturers in Morbi, increasing the ceramic tile cost by 15%
Armstrong Industries declared the sale of patriot flooring supply to the Belknap white group.
This is due to enhanced properties such as reduced weight, acoustic insulation, recyclability, and thermal insulation, which have led to increased product usage in various end-use sectors. Tin, aluminum, and steel are the most often used metals in production, and they come in a variety of hues and provide a clean, high-tech, and crisp interior display. In addition, powder-coated metal ceiling tiles have a better gloss and are more corrosion resistant, which will drive demand throughout the projection period.
Gypsum is anticipated to hold for a significant portion of sales in 2020 and is predicted to uplift at an annual rate of 8.8% over the forecast period. This is due to the multiple advantages offered by ceramic tiles, like reduced structural weight, ease of installation, repair, and maintenance. In addition, these tiles are commonly employed for aesthetic feature enhancement in various modern office complexes in the United States.
Acoustic property is anticipated to have the most prominent global ceramic tiles market share in the upcoming years. The use of acoustic ceiling tiles achieves sound management and noise reduction. There are three types of acoustic ceiling tiles: sound-absorbing, sound blocking, and sound diffusing ceiling tiles. In addition, the soundproofing tiles regulate noise in large and small spaces to maintain acoustics for occupant comfort. The basic materials used to make acoustic ceiling tiles are high-density fiberglass board, acoustic foam, and polyester substrates. Furthermore, with the introduction of advanced acoustic ceiling tile products, manufacturers' R&D will boost the acoustic ceiling tile market.
Based on application, the commercial sector dominated the global ceiling tiles market during the forecast period. Ceiling tiles are most probably utilized in workplaces, retail establishments, educational institutions, hospitals, the hospitality industry, multiplexes, home theatres, auditoriums, and other commercial spaces. Ceilings in office buildings must be strong, durable, and attractive, and the ceiling tiles utilized in this industry meet these requirements. Drop ceiling tiles and planks are the most common forms of ceiling tiles used in office buildings. During the year 2019, the worldwide construction sector grew by roughly 3%. Due to the continually developing service industry worldwide, the commercial building plays a significant role in this growth.
Ceiling Tiles Market Regional Analysis:
Global Ceiling Tiles Market Report includes the segmentation of Regions:
The ceiling tile market was controlled by the Asia-Pacific region. However, the market for ceiling tiles is predicted to grow in the future years, primarily owing to rising investments in residential and commercial buildings in countries like India, China, the Philippines, Vietnam, and Indonesia.
The United States, as the middle of the North American ceiling tile market, has a lot of promise in the coming years. The use of various types of ceiling tiles, such as plain ceiling tiles, fissured ceiling tiles, and others, increases in the United States, pushing growth. In addition, demand is being supplemented by the highly advanced hospitality, business, and other sectors.
The European ceramic tiles market is expected to grow at a CAGR of 4.19 percent in terms of revenue during 2021-2026. The increased focus on improving tiles' thermal and acoustic qualities and their weight reduction is one of the primary factors linked to the growth.
Driven by the construction industry's growth, both developed and emerging regions are seeing a surge in residential, commercial, and industrial construction, bolstering the ceiling tiles market's growth in the Middle East and Africa.
Impact of COVID-19 on Ceiling Tiles Market:
The COVID-19 outbreak has thrown many global contractors into one of their most difficult periods. Contractors have experienced rapid change as countries worldwide implemented lockdowns and other restrictions, with many changing their working methods overnight.
Meanwhile, construction projects have become more challenging to complete because of the current stage of the pandemic. Thus, the COVID-19 epidemic decreases the construction industry's growth, generating disruption and delays, which can be traced to various interrupted supply networks. In multiple regions, governments have also ordered the closure of particular firms in numerous locations. As a result, the shutdown of most residential and non-residential construction projects has been called. Most housing projects are projected to be left unfinished due to supply chain interruptions, cash flow limitations, and production halt, posing several challenges for ceramic tile manufacturers and the construction sector. The near-zero construction activity at project sites has further strained the financial status of some manufacturers and developers, which affects the ceramic tiles market.
Global Ceiling Tiles Market Key Players:
The companies covered in the report include:
AWI Licensing LLC
Knauf Gips KG
ROCKWOOL International A/S
Odenwald Faserplattenwerk GmbH
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.2 mineral wool
5.1.5 Y-o-Y Growth Analysis, By product
5.1.6 Market Attractiveness Analysis, By product
5.1.7 Market Share Analysis, By product
5.2.4 Y-o-Y Growth Analysis, By Application
5.2.5 Market Attractiveness Analysis, By Application
5.2.6 Market Share Analysis, By Application
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
126.96.36.199 By Geographical Area
188.8.131.52 By product
184.108.40.206 By Application
220.127.116.11 By Indication
6.1.4 Market Attractiveness Analysis
18.104.22.168 By Geographical Area
22.214.171.124 By product
126.96.36.199 By Application
188.8.131.52 By Indication
6.1.5 Market Share Analysis
184.108.40.206 By Geographical Area
220.127.116.11 By product
18.104.22.168 By Application
22.214.171.124 By Indication
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Armstrong World Industries
8.3 USG Corporation
8.4 Hunter Douglas
8.5 SAS International
8.8 Odenwald Faserplattenwerk GmbH
8.10 Saint-Gobain Gyproc
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures
Global,Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
Segment-level analysis in terms of by material type,by property type,by end user, along with market size forecasts and estimations to detect key areas of industry growth in detail
Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
Global Ceiling Tiles Market By Region, From 2021-2026( USD Billion )
Global Ceiling Tiles Market By product, From 2021-2026( USD Billion )
Global mineral wool Market By Region, From 2021-2026( USD Billion )
Global metal Market By Region, From 2021-2026( USD Billion )
Global others Market By Region, From 2021-2026( USD Billion )
Global Ceiling Tiles Market By Application, From 2021-2026( USD Billion )
Global residential Market By Region, From 2021-2026( USD Billion )
Global non-residential Market By Region, From 2021-2026( USD Billion )