Press release
Ceiling Tile Global Market Report 2024: Key Players, Demand Patterns And Forecasts 2033 | Rockwool International A/S, USG Corporation, Hunter Douglas N.V., SAS International Ltd., Odenwald Faserplattenwerk GmbH
Ceiling Tile Market Size
The Business Research Company offers in-depth market insights through Ceiling Tile Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The ceiling tile market size has grown strongly in recent years. It will grow from $8.1 billion in 2023 to $8.77 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to increased commercial construction, increased focus on aesthetic appeal, increased fire safety regulations, growth in residential renovations, and rapid urbanization
.
The ceiling tile market size is expected to see strong growth in the next few years. It will grow to $12.06 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to increasing focus on energy efficiency, increasing noise pollution concerns, increasing health and wellbeing focus, growing sustainability, and increasing residential construction. Major trends in the forecast period include technological advancements, smart ceiling tiles, integration with home automation, adoption of customized products, and product innovations.
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Market Segmentation:
The main installation types of ceiling tiles are surface mount, drop, and suspended. The surface-mount ceiling tiles are quick and easy to install, and they are suitable for hiding stains and popcorn ceilings. These ceilings and planks maximize headroom and create interest overhead. The different material types include mineral wool, metal, and gypsum, which are available in different forms such as laminated, fissured, patterned, plain, textured, and coffered. It is used in several applications, including residential, commercial, industrial, and institutional.
Major Driver - Construction Boom Fuels Substantial Growth In The Ceiling Tile Market
The increase in construction is significantly contributing to the growth of the ceiling tile market going forward. Construction is the process of building, altering, repairing, remodeling, improving, or demolishing any structure. The rise of high-end apartments, houses, and skyscrapers in developing countries is driving the growth of premium ceiling tiles. For instance, according to Oxford Economics, a UK-based company that provides global economic forecasting, the volume of construction output is expected to grow by 85% by 2030. The major countries contributing to this growth are China, India, and the USA. Therefore, the increase in construction is driving the ceiling tile market growth.
Competitive Landscape:
Major companies operating in the ceiling tile market include Rockwool International A/S, USG Corporation, Hunter Douglas N.V., SAS International Ltd., Odenwald Faserplattenwerk GmbH, Knauf Gips KG, Saint Gobain India Pvt. Ltd., Byucksan Corporation, KET Ceilings, AWI Licensing LLC, New Ceiling Tiles LLC, CertainTeed Corporation, HIL Limited, Rockfon LLC, Armstrong World Industries Inc., Haining Shamrock Import & Export Co. Ltd., Georgia-Pacific LLC, Gypsum Management and Supply Inc., National Gypsum Company, Acoustic Ceiling Products LLC, Ceilume, Chicago Metallic Corporation, Decoustics, Ecophon, Foshan Ron Building Material Trading Co. Ltd., Guangzhou Titan Commercial Co. Ltd., Haining Chaodi Plastic Co. Ltd., Knauf Danoline A/S, Hunter Douglas Architectural, OWA Ceiling Systems GmbH, Shandong Huamei Building Materials Co. Ltd.
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Top Trend - Innovative Products Redefining The Ceiling Tile Market Spotlight On Clearone's Bma 360D
Product innovations have emerged as the key trend gaining popularity in the ceiling tile market. Companies manufacturing ceiling tiles are developing innovative products to strengthen their positions in the market. For instance, in June 2023, ClearOne Communications Inc., a US-based network streaming, conferencing, and collaboration solutions company, launched BMA 360D, the world's most sophisticated beamforming microphone array ceiling tile. The BMA 360D provides unparalleled audio performance as well as native interoperability with any Dante-enabled DSP mixer.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Ceiling Tile Market Characteristics
3. Ceiling Tile Market Trends And Strategies
4. Ceiling Tile Market - Macro Economic Scenario
5. Ceiling Tile Market Size And Growth
…..
27. Ceiling Tile Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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