Ceiling Tiles Market is Expected to Witness a CAGR of 10% to Reach US$ 22.51 Billion by 2033

Widespread Renovation and Remodeling Activities in Construction Sector Driving Demand for Ceiling Tiles as Essential Part of Interior Upgrades

Rockville, June 27, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, a provider of market research and competitive intelligence, the Ceiling Tiles Market is expected to reach US$ 22.51 billion by 2033, expanding at a noteworthy CAGR of 10% over the decade.

Ceiling tiles are construction materials utilized to install or cover ceilings in residential and commercial settings. They are specifically designed to enhance aesthetics and acoustics and provide insulation properties. Increasing construction of office buildings and healthcare facilities is likely to significantly boost the market for ceiling tiles.

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The market is expected to expand as a result of factors such as rising disposable income in emerging countries, increasing demand for thermal and acoustic insulation, and changing consumer preferences for aesthetically pleasing interior design in homes and workplaces.

Adoption of innovative and sustainable techniques that incorporate eco-friendly materials in the building of walls, floors, and ceilings is anticipated to drive market growth. Customers are increasingly seeking ceiling tiles that prioritize aesthetics and creative flexibility, while also offering functional benefits that enhance overall interior design. Customizable tiles with a wide range of colors, textures, and patterns are gaining popularity as they align with fashion trends and allow for personalized design choices.

Typically, a variety of materials, including metals, mineral fiber, fiberglass, gypsum, wood, and plastic, are used in the production of ceiling tiles. However, some of these materials have detrimental effects on the environment, which prevent the ceiling tile sector from growing. For instance, formaldehyde binders are frequently used in the manufacturing of fiberglass. The discharge of microfibers containing these formaldehyde binders during the removal of fiberglass ceiling tile installations can be hazardous to human health. To lessen these negative effects, it is necessary to explore alternative materials and manufacturing techniques.

Key Takeaways from Market Study

The global ceiling tiles market is valued at US$ 8.68 billion in 2023.

Worldwide demand for ceiling tiles is projected to increase at a CAGR of 10% from 2023 to 2033.

The global market is estimated to reach US$ 22.51 billion by the end of 2033.

The United States market is set to advance at a CAGR of 10.2% through 2033.

“With growing emphasis on sustainability and energy efficiency, there is increasing demand for environment-friendly ceiling tiles made from recycled or renewable materials,” says a Fact.MR analyst.

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Competitive Landscape

The ceiling tile industry is highly competitive, with a number of major competitors striving for market dominance by providing a diverse selection of goods. These businesses contend with one another in a number of areas, including product innovation, design choices, quality, sustainability, pricing, and customer service.They frequently invest in R&D to offer new designs, improve performance, and satisfy shifting customer demands in order to stay ahead. Companies frequently use strategic alliances, mergers, and acquisitions to increase their market share.

In December 2020, Armstrong World Industries completed the acquisition of the issued and outstanding equity of Arktura, along with several subsidiaries and business operations in the United States and Argentina. Arktura, based in Los Angeles, California, specializes in the design and manufacturing of metal and felt ceilings, walls, partitions, and facades.

In August 2020, Armstrong World Industries acquired TURF Design, including all of its outstanding equity and various subsidiaries. TURF Design, with its production plant in Elgin, Illinois, and a design center in Chicago, Illinois, specializes in the design and creation of acoustic felt-based products for walls and ceilings.

Key Companies Profiled

Armstrong World Industries, Inc.

Saint-Gobain S.A.

USG Corporation

Knauf

Techno Ceiling Products

KET Ceilings

Hunter Douglas

HIL Limited

SAS International

Rockwool International A/S

Market Competition

The competitive landscape of the ceiling tiles market is characterized by the presence of several key players that compete based on factors such as product offerings, quality, pricing, distribution network, and innovation. Several other regional and local manufacturers contribute to the competitive landscape.

The Saint-Gyproc Gobain division introduced the lightweight Gyprex L ceiling tile in July 2021 in the ceiling category. The new Gyprex L tiles are easy to handle and install. They are produced locally in 6.4 mm thickness and are primarily intended for commercial establishments including offices, schools, hospitals, and retail buildings.

Key Segments of Ceiling Tiles Industry Research

By Material:

Aluminum

Fiberglass

Fiber/Gypsum

PVC

Steel

Wood

Other Materials (Polystyrene, Urethane, MDF, Copper)

By Form:

Laminated

Fissured

Patterned

Plain

Textured

Coffered

Other Forms (Open Cells, Fine Ceiling Tiles)

By Application:

Residential

Hospitality

Commercial

Institutional

Industrial

By Installation:

Drop/Suspended

Surface-mounted

By Region:

North America

Latin America

Europe

Asia Pacific

Middle East & Africa

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global ceiling tiles market, presenting historical demand data for 2018 to 2022 and forecast statistics for 2023 to 2033.The study divulges essential insights into the market based on material (aluminum, fiberglass, mineral fiber/gypsum, PVC, steel, wood, other materials [polystyrene, urethane, MDF, copper]), form (laminated, fissured, patterned, plain, textured, coffered, other forms (open cells, fine ceiling tiles]), application (residential, hospitality, commercial, institutional, industrial), and installation (drop/suspended, surface-mounted), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa).

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