Mineral Wool Ceiling Tiles Market: Global Industry Trends, Share, Size & Forecast 2017-2022
In the past few years, the global market for ceiling tiles has seen a steady growth, representing a CAGR of 9% during 2009-2016. The primary factor for the growth is the performance characterics of ceiling tiles such as their ability to absorb sound, light reflection, thermal insulation, etc. As a result, they are being used in a number of industrial and commercial spaces.
The latest report by IMARC Group titled, “Mineral Wool Ceiling Tiles Market: Global Industry Trends, Share, Size, Growth, Opportunity & Forecast 2017-2022” finds that the global ceiling tiles market has grown at a CAGR of 9% during 2009-2016, reaching a value of around US$ 20 Billion in 2016. Ceiling tiles are light-weight interior decorative material used in the construction of several buildings such as offices, schools, hospitals, retail units, etc. These tiles offer a range of useful characteristics which are designed to deliver a high-quality performance. They are light reflectors, thermal insulators, fire-resistant, durable, sound and shock absorbers. These attributes have contributed to their popularity among the consumers.
Ceiling tiles find a number of applications in commercial and industrial spaces. This has led to an increase in their demand in regions such as North America and Europe, thereby, adding to the overall growth of the ceiling tiles market. Moreover, as a result of their ability to inhibit the transmission of heat, there has been a rise in the demand for ceiling tiles in green building projects. Apart from this, on account of their acoustical properties, they are extensively used in transportation terminals, drywall grid systems, retail stores, offices, hotels and in hospitals as suspensions, building perimeters, etc. According to the report, the global market for ceiling tiles is further expected to reach a value of around US$ 30 Billion by 2022, growing at a CAGR of 8% during 2016-2022. A growing demand from emerging markets such as India and China, are anticipated to be the major growth inducing factors in the coming years.
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The report has segmented the market on the basis of key regions. Some of the regions covered in the report include North America, Asia-Pacific, Europe and others. Amongst these, North America represents the largest market for ceiling tiles, accounting for the majority of the total global shares. Furthermore, the report offers an analysis of the market on the basis of the product type, which includes mineral wool ceiling tiles, gypsum ceiling tiles, metallic ceiling tiles and others. The mineral wool ceiling tiles market represents the biggest segment, accounting for more than 40% of the total global shares. It is followed by gypsum ceiling tiles, metallic ceiling tiles and others (wood, plastic, etc.). An evaluation of the competitive landscape is also given with some of the top players being SAS International, ROCKFON, Chicago Metallic Corporation, USG Corporation and Knauf.
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The study, which has been done by one of the world’s leading research and advisory firms, covers all the requisite aspects of the ceiling tiles market. This ranges from macro overview of the market to micro details of the industry performance, manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. It also offers SWOT, Value Chain and Porter’s Five Forces analysis and regional segmentation followed by an analysis of the competitive landscape. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who are planning to foray into the ceiling tiles market in any manner.
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