Ceiling Tiles Market Report 2020, Size, Share, Outlook, Growth and Forecast By 2025

According to the latest report by IMARC Group, titled “Ceiling Tiles Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global ceiling tiles market size reached US$ 24 Billion in 2019. Ceiling tiles are lightweight construction materials that are widely utilized for covering ceilings. These tiles offer numerous benefits, which include providing thermal insulation and improving the overall aesthetics and acoustics of a space. As compared to conventional construction materials, ceiling tiles are durable, fire-resistant, require low maintenance, and absorb sound. As a result, they are used in the construction and renovation of schools, cafeterias, offices, hospitals, stores, hotels and airports worldwide.

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic. These observations will be integrated into the report.

Competitive Landscape:

The competitive landscape of the market has been examined, with some of the key players being SAS International, ROCKFON International A/S, USG Corporation, Knauf Gips KG and Odenwald Faserplattenwerk GmbH.

Global Ceiling Tiles Market Trends:

On account of rapid urbanization, inflating income levels and improving living standards, there is a rise in the demand for aesthetically appealing ceiling tiles across the globe. Additionally, rising industrialization and urbanization rates have increased construction activities in both the developed and emerging economies. This, in turn, is also strengthening the growth of the ceiling tiles market around the world. Apart from this, due to the increasing western influences, consumers nowadays are seeking affordable ceiling options that offer stylish and luxurious interiors. Furthermore, governments of several countries are investing in new public infrastructure projects to develop city and town centers, which is also fueling the market growth. Some of the leading players in the industry are focusing on expanding their existing market share. Consequently, they are introducing advancements in technology to simplify the installation process and ensure perfect alignment and optimum finished look of these tiles. These factors collectively are anticipated to bolster the market growth in the coming years. Looking forward, the market value is projected to reach US$ 35 Billion by 2025, expanding at a CAGR of 6.2% during the forecast period (2020-2025).

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Key Market Segmentation:

Market Breakup by Product Type:

1. Mineral Wool
2. Gypsum
3. Metallic
4. Others

Based on the product type, the market has been segmented into mineral wool, gypsum, metallic and other ceiling tiles. Amongst these, mineral wool ceiling tiles exhibit a clear dominance in the market.

Market Breakup by Application:

1. Non-Residential Applications
2. Residential Applications

On the basis of the application, the market has been bifurcated into residential and non-residential segments. At present, ceiling tiles are mostly utilized in non-residential applications worldwide.

Market Breakup by Region:

1. North America
2. Europe
3. Asia Pacific
4. Latin America
5. Middle East and Africa

On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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This release was published on openPR.