Ceiling Tiles Market is expecting highest CAGR of 8.2% by 2023, Key Players- Armstrong World Industries, Knauf, Grenzebach BSH GmbH, USG Corporation

Market Synopsis of Global Ceiling tiles Market
geographically, the global ceiling tiles market has been divided into four major regions of North America, Europe, Asia Pacific and Rest of the World. North America region, has accounted for the largest market share, in 2016, followed by Europe and Asia Pacific. Increasing demand for low maintenance building products, is driving the growth of the market in North America region. U.S. is the largest contributor in global as well as North America ceiling tiles market. Strong development in commercial and residential structures in the U.S., is anticipated to fuel the demand for market in the region. Additionally, consumer preference for green buildings and sustained investments in commercial real estate, have also had a positive influence on the growth of the market. Europe is the second-largest market for ceiling tiles. Increasing repair and rehabilitation activities of existing infrastructure have a huge potential for market in the future.

Asia Pacific is expected to grow at the highest CAGR during the forecast period. China, Japan, India, and Singapore are the major market in Asia Pacific region. Growing residential and non-residential construction activities in the region, are driving the growth of the market. Additionally, growing awareness about green construction among consumers, is also expected to provide huge opportunities for market growth. In rest of the world, Middle East region is expected to contribute, significantly, during the forecast period, mainly due to changing lifestyle and development of the hotels. This is a result of the increasing government initiatives regarding the tourism industry in these regions.

For the purpose of this study, the global ceiling tiles market has been divided on the basis of products, installation types and applications. On the basis of product, the market has been segmented as mineral wool, metal, gypsum, wood and others. Among products, mineral wool accounted for the largest market share. Mineral wool includes fibers derived from slag, rock, and glass wool, which have noise reduction characteristics and are highly used in commercial spaces that are exposed to noisy surroundings. Gypsum is the second largest product type of the market. Now a days, new eco-friendly gypsum based construction materials have come up, which are expected to fuel the demand of the gypsum product. Based on installation type, the market has been segmented as drop in, and glue up. In glue up, ceiling tiles are attached directly to the ceiling surface using adhesive.

On the basis of applications, the market has been segmented as residential and non-residential. Non-residential dominates the application segment of the market and is expected to grow at the highest CAGR during the forecast period. Ceiling tiles are installed in numerous sub-applications within the non-residential construction areas such as corporate offices, healthcare centers, retail & grocery stores, and educational institutions. They are also installed in Cafeterias, hotels, gymnasiums, and airport terminals. Although non-residential application is expected to contribute significantly during the forecast period, the residential segment contributes significantly, in the market.

Ceiling tiles or ceiling panels are lightweight building materials used for covering the ceiling area. Ceiling tiles are generally used everywhere such as the retail store, offices, hospitals, building perimeter, hotels, and transportation terminals.
Hence, global ceiling tiles market is expected to grow at CAGR of 8.2% during the forecast period.

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The Prominent Players in the ceiling tiles market include Armstrong World Industries, Inc. (U.S.), Knauf (Germany), Grenzebach BSH GmbH (Germany), Rockfon (U.S.), USG Corporation (U.S.), Saint Gobain S.A. (France), SAS International (U.K.), Odenwald Faserplattenwerk GmbH (Germany), Hunter Douglas (The Netherlands), Burgess CEP (U.K.)., Decorative Ceiling Tiles, Inc. (U.S.), VANS Gypsum Pvt Ltd (India), and The ReWall Company, LLC (U.S.).

The report for Global Ceiling Tiles Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.

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