Ceiling Tiles Market Projected to Reach 9.88 Billion USD by 2022 | Key Players include Armstrong World Industries, USG Corporation, Hunter Douglas, SAS International, CertainTeed, Rockfon, Odenwald Faserplattenwerk GmbH, Knauf, Saint-Gobain Gyproc, and Ge

According to recent research "Ceiling Tiles Market by Material Type (Mineral Fiber, Metal and Gypsum), Property Type (Acoustic and Non-Acoustic), End User (Residential and Non-Residential), and Region (NA, EU, APAC, MEA, and SA)-Global Forecast to 2022", published by MarrketsandMarkets™, The ceiling tiles market is projected to grow from USD 7.31 billion in 2017 to USD 9.88 billion by 2022, at a CAGR of 6.2% between 2017 and 2022.The increasing use of ceiling tiles in construction projects is one of the most significant factors projected to drive the growth of the ceiling tiles market.

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Developed economies across the globe are targeting for long-term investments in the building & construction industry. This, in turn, is expected to increase the number of construction projects, thereby providing a positive outlook for the ceiling tiles market. Increased spending on infrastructure projects is also contributing to the growth of the ceiling tiles market. The ceiling tiles market is projected to reach USD 9.88 billion by 2022, at a CAGR of 6.2% between 2017 and 2022.
The ceiling tiles market in the Asia Pacific region is projected to grow at the highest CAGR during the forecast period, in terms of value and volume. The growth of the Asia Pacific ceiling tiles market can be attributed to the increased demand for ceiling tiles from the building & construction industry in this region.

Key players operating in the ceiling tiles market are focused on the adoption of inorganic and organic growth strategies to strengthen their market positions. These companies have adopted agreements/contracts, expansions, acquisitions, and new product developments as key growth strategies between January 2015 and December 2017 to strengthen their foothold in the ceiling tiles market.

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Armstrong World Industries (US), one of the leading manufacturers of ceiling tiles, is focused on the adoption of key growth strategies such as agreements, new product developments, and acquisitions to enhance its presence in the ceiling tiles market. In October 2015, the company launched a new ceiling panel that encompasses sound absorption and sound blocking capabilities. In December 2016, Armstrong World Industries acquired the business of Tectum, Inc. (US). The acquisition strategy helped the company expand its portfolio of durable, sustainable, and acoustical ceilings and gain a competitive edge over its peers in the ceiling tiles market.

Hunter Douglas (Netherlands), a key manufacturer and provider of ceiling tiles, has adopted the strategy of agreements/contracts to enhance its position in the ceiling tiles market. For instance, in April 2015, the company entered into a supply contract to offer window blinds and ceiling systems to the world’s tallest building, the Burj Khalifa tower in Dubai. Ceiling panels provided by the company were used in bathrooms and walk-in closets of apartments. This development strategy helped the company enhance its brand image and geographic reach in the Middle Eastern region.

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