The global ceiling tiles market is expected to grow at a CAGR of around 6.3% from 2020 to 2027 and expected to reach the market value of around US$ 18.6 Bn by 2027.
Ceiling tiles can reflect light, increasing lighting system efficiency and lowering energy costs. They are also capable of effectively blocking or reducing noise. Mineral oil, fiberglass, gypsum, perlite, clay, cellulose, or starch are common materials used to make ceiling tiles. Metal, glass, and wood are also popular specialty materials. When choosing ceiling tiles, it is critical to consider the material used as well as the possibility of negative health effects. In the event of a fire, properly installed ceiling systems allow smoke detectors, heat detectors, and fire sprinklers to function properly. They also act as a barrier against the spread of smoke and fire. When ceiling tiles are broken, displaced, or removed, hot gases and smoke from a fire can rise and accumulate above detectors and sprinklers.
Growth in construction projects drives the global ceiling tile market
According to the Open Government Licence v3.0 statistics, construction output increased by 1.6% in the month-on-month all work series in February 2021, due to a 1.5% increase in new work and a 1.9% increase in repair and maintenance. This was the highest monthly increase in all work since September 2020, when it increased by 1.8%. Furthermore, construction output in February 2021 was 4.3% lower than in February 2020, while new work was 7.8% lower than in February 2020, and repair and maintenance work was 2.2% higher than in February 2020. Furthermore, the monthly increase in new work (1.5%) in February 2021 was due to growth in all new work sectors except infrastructure, which fell by 3.4%. The largest contributor to this expansion was private commercial new work, which increased by 4.0%. As a result, such factors boost demand for ceiling tiles, ultimately contributing to the growth of the global ceiling market.
Rising construction of green buildings boosts the growth of global ceiling tiles market
As the green building movement has matured, the business benefits of lower operating costs, faster payback on investment, and increased asset value have fueled green building activity. The majority of architects and contractors recognize that building green increases asset value, with 27% believing that it adds more than 10% to the value, a similar percentage to the 30% of owners and their project team who believe that the value added by green is significant. Furthermore, it is estimated that green building activity will increase, and even more importantly, a large percentage of respondents (47%) believe that it will build with the majority of the projects (more than 60%) green by 2021, according to the SmartMarket Report "World Green Building Trends 2018.” Furthermore, the use of ceiling tiles on the roof and reflective clear glass are good retrofitting options that can result in a 17.6-19.8 percent reduction in cooling load and CO2 emissions.
The global ceiling tiles market is segmented based on product and application. Product is segmented as mineral wool, metal, gypsum, and others. By application, the market is segmented as non-residential, residential, and industrial.
Mineral wool is expected to account for the largest market share in the coming years, based on product. Superior properties such as lighter weight, acoustic insulation, recyclability, and thermal insulation lead to increased product usage in a variety of end-use industries. Mineral wool is commonly used in the composition of ceiling tiles because it is commonly used as an insulation material. Mineral wool, according to the US Department of Energy, contains an average of 75% post-industrial recycled content, does not require additional chemicals to make it fire-resistant, and is widely available as a blanket (batts and rolls) and loose-fill insulation. Furthermore, non-residential applications are expected to account for the majority of market share in the coming years. The global ceiling tiles market is being driven by rapidly rising commercial building construction activities worldwide, as well as investments in several developing countries such as Brazil and South Korea aimed at the development of the non-residential construction industry.
In terms of regions, North America has traditionally dominated the global ceiling tile market and is expected to do that again during the forecast period. The US has established itself as the leading country in North America, owing to consumer preferences for innovative construction materials, as well as increasing demand for soundproof and decorative interiors in commercial sectors. By the early 1870s, commercially available decorative metal ceilings were available in the United States and were initially made of corrugated iron sheets a product already in use in the roofing industry. Controlling moisture is critical for protecting occupants' health as well as the building, its mechanical systems, and its contents from physical or chemical damage. Moisture-related health issues and building damage can be extremely costly.
Berkeley Lab estimates that the annual asthma-related medical costs in the United States are approximately US$3.5 Bn as a result of dampness and mould exposure. To avoid this, proper roofing with ceiling tiles and cladding systems were used in the construction of new buildings in the US. This was supported by an air gap and a moisture-resistant material that served as the drainage plane. The majority of the water that seeps, wicks, or is blown past the cladding will drain away from the assembly. The drainage plane keeps any water that might bridge the air gap from getting into the assembly's inner workings.
Asia Pacific, on the other hand, is expected to have the fastest growing CAGR during the forecast period. The market for ceiling tiles is expected to grow in the coming years due to rising investments in residential and commercial construction in countries such as China, India, the Philippines, and Indonesia. China is experiencing a construction mega-boom. The country has the world's largest construction market, accounting for 20% of all global construction investment. According to World Resource Institute data, China is expected to spend nearly US$13 trillion on construction by 2030.
The global ceiling tiles market comprises of prominent players that involve Armstrong World Industries, Inc., USG Corporation, Hunter Douglas N.V., SAS International, CertainTeed, Rockfon, Odenwald Faserplattenwerk GmbH, Knauf Gips KG, Saint-Gobain Gyproc, Georgia-Pacific LLC, and among others
Market By Product
Market By Application
Ceiling tiles market is expected to reach a market value of around US$ 18.6 Bn by 2027.
The ceiling tiles market is expected to grow at a CAGR of around 6.3% from 2020 to 2027.
Based on product, mineral wool segment is the leading segment in the overall market.
Growth in construction projects is one of the prominent factors that drive the demand for ceiling tiles market.
Armstrong World Industries, Inc., USG Corporation, Hunter Douglas N.V., SAS International, CertainTeed, Rockfon, Odenwald Faserplattenwerk GmbH, Knauf Gips KG, Saint-Gobain Gyproc, Georgia-Pacific LLC, and among others
North America is anticipated to grab the highest market share in the regional market
Asia Pacific is expected to be the fastest growing market in the forthcoming years