Ceiling Tiles Market Segmentation:
By Product (Gypsum, Mineral Wool, Metal); By Application (Residential, Commercial, Industrial); By Region (North America, Asia Pacific, Europe, Central & South America, Middle East & Africa); End-use Landscape; Vendor Landscape; and Competitor Analysis
Ceiling Tiles Market Insights:
Ceiling panels or tiles are used during construction to improve the aesthetics and acoustic insulation of the building. Decorative exteriors and interiors trends have prompted the growth of this market. Advanced designing and printing technologies have added to the trends and are now an important part of building materials market.
For improving aesthetic features, significant changes and advancements in products such as carpet, floor, and wall tiles among others have been major concerns. Large and small companies are a part of this industry. To further improve the demand for the market, companies use environmentally sustainable products.
Ceiling Tiles Market - Product Insights:
The major product segments are mineral wool, metal, and gypsum. Mineral wool contributed more than 40% to the market share in 2016. It is used for interior decoration widely in residential and non-residential buildings.
Mineral wool provides several advantages such as soundproof, fire resistance, highly durable, and easy to install among others. They are available in wide range of thickness, size, and density. Owing to its performance, demand for mineral wool is expected to rise in the forecast period. Second largest product in this industry are the metal based ones. Aluminium, steel, and tin are the metals used for metal ceiling fiber.
Ceiling Tiles Market - Application Insights:
Key application segments of the industry are commercial, residential and industrial. The commercial application segment saw the fastest growth in 2016 and is expected to grow in the forecast period. The sub-division for the above includes healthcare centers, grocery stores, corporate offices, restaurants, and airport terminals among others.
Second largest product demand in 2016 was of residential ceiling materials. Generally, metal panels and mineral fibers are used in the residential construction operations. Increasing repairs in the housing sector in North America is expected to promote the growth of this industry in the forecast period.
Ceiling tiles are increasingly being adopted for the environmentally sustainable construction to reduce carbon footprint instead of the conventional building. They provide a sustainable waste management solution to the industry, hence creating a market for the manufacturers.
Ceiling Tiles Market: End-Use Landscape
The end-user landscape entails a list of current and prospective consumers prevailing across the regions. This section provides company addresses, contact details, products, and regional presence of companies who are purchasing or are likely to purchase over the coming years. Some leading consumers of ceiling tiles markets are - hospitals, offices, gymnasiums, schools and commercial stores among others.
Ceiling Tiles Market - Regional Insights:
North America accounted for more than 30% of the revenue in 2016. It is the fastest growing region in the forecast period owing to the well-established non-residential and residential sub-sectors in the construction field.
Asia Pacific is expected to grow over the forecast period owing to the foreign investments in this market especially in India and other Southeast Asian countries. Rising population in this region is expected to expand the construction activities of residencial sector and technology parks leading to the growth of the industry.
Favourable scope for the industry is expected from the Middle East & Africa and Central & South America regions in the forecast period. It is mainly expected to grow in Brazil, South Africa, and the GCC countries.
Ceiling Tiles Market - Competitive Insights:
Ceiling tiles are expected to face competition with its substitutes such as asphalt and mortar which are at par with this market. The raw material price fluctuation may also lead to trouble in staying stable in the market. The manufacturers are investing in research and development to keep the market growing.
Key players in the market are Armstrong World Industries, Inc., Saint-Gobain S.A., USG Corporation, ROCKWOOL International A/S, Odenwald Faserplattenwerk GmbH, SAS International, Burgess CEP, Hunter Douglas, and Knauf among others.
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