WILMINGTON, DE / ACCESSWIRE / December 8, 2022 / Transparency Market Research Inc. - The Global Ceiling Tiles Market is estimated to expand at a CAGR of 7.2% during the forecast period, finds a research report by Transparency Market Research (TMR).

The popularity of ceiling tiles has increased in the past few years due to several advantages, including outstanding sound absorption abilities and ease of installation. Hence, an increase in the product's application across a range of end-use industries is expected to lead to revenue-generation opportunities in the market.

Key Findings:

• Metal ceiling tiles are increasingly adopted by car dealership spaces and retail stores. Moreover, the demand for the latest and most eye-catching patterns of metal ceiling tiles with the ability to offer high-performance acoustics is rising globally. The popularity of acoustical decorative metal ceiling tiles with expanded metal has increased in the past few years. These factors are creating opportunities in the global market, state analysts in a TMR research report. The study states that the metal segment held a major market share in 2020. The segment growth can be ascribed to an increase in product adoption due to its environmentally friendly nature. Key materials used in the manufacture of metal ceiling tiles are tin, aluminum, and steel.

• In the non-residential sector, demand for ceiling tiles is increasing for the construction of offices, auditoriums, institutions, libraries, movie theaters, hospitals, and gymnasiums. Leading factors driving the demand for ceiling tiles in non-residential applications are sound-absorbing and sound-blocking properties, hassle-free installation, and esthetic appeal. The TMR study notes that the non-residential segment is projected to dominate the global market during the forecast period.

• As per the research report by TMR, the mineral wool segment held the leading share of the global ceiling tile market in 2020. Growth of the segment can be attributed to rising in demand in the non-residential, residential, and commercial sectors. Mineral wool is known for integrating strands derived from rocks, slag, and glass wool. This segment utilizes wet felt and offers mineral strands and fiberglass, which are known for aiding in noise reduction, states a TMR review.

• Manufacturers of ceiling tiles are focusing on strengthening their production capacities in different backing colors and sizes. Moreover, several players are offering customized products to serve individual needs. Besides, companies are engaging in mergers, acquisitions, and product innovation strategies in order to strengthen their market position. Such efforts are likely to help in the overall growth of the market during the forecast period, notes a TMR study on the global ceiling tiles industry.

• The adoption of gypsum ceiling tiles has been increasing owing to cost-effectiveness and sustainability. Demand for gypsum ceiling tiles is expected to increase in the next few years. The key advantages of these products are fire resistance, durability, and mold & sag resistance. Moreover, these can be easily trimmed and installed in various edge details. These advantages are projected to augment the market during the forecast period. Market players are increasing investment in R&D in order to incorporate laminated and painted finishes in gypsum ceiling tiles. These factors are likely to accelerate market development during the forecast period.

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Ceiling Tiles Market: Growth Drivers

• An increase in demand for non-residential and residential applications is projected to create significant business opportunities in the global market

• The rapid expansion of the construction sector is leading to lucrative avenues in the Ceiling Tiles Market

Ceiling Tiles Market: Key Players

Key players profiled in the report are:

• Saint-Gobain S.A.

• Armstrong World Industries, Inc.

• Knauf

• USG Corporation

• Rockfon

• Techno Ceiling Products

• Odenwald Faserplattenwerk GmbH

• Mada Gypsum

• New Ceiling Tiles, LLC

• SAS International

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Ceiling Tiles Market Segmentation

Product Type

• Mineral Wool

• Metal

• Gypsum

Application

• Residential

• Non-residential

• Hospitality

• Commercial

• Institutional

• Industrial

Regions Covered

• North America

• Europe

• Asia Pacific

• Middle East & Africa

• Latin America

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