According to the report, the global ceiling tiles market was valued at USD 14.8 billion in 2014 and is expected to reach USD 30.0 billion by 2020, growing at a CAGR of around 9% between 2015 and 2020. In terms of volume, global ceiling tiles market stood at 990 million tons in 2014.
Primarily ceiling tiles are made from mineral fiber, but other materials are available, such as fiberglass. Ceiling tiles, also known as ceiling panels are lightweight construction materials, which are used to cover ceiling area. These lightweight tiles are used for interiors of buildings, placed in an aluminum grid; they provide tiny thermal insulation but are usually designed to improve the acoustics of a room. Ceilings tiles are mostly used in the construction industry, which is segmented into commercial, residential, and industrial applications. Ceiling tiles are generally used in, retail stores, transportation terminals, building perimeter, drywall grid systems offices, hotels, and hospitals.
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Globally, the demand for ceiling tiles has been driven by the construction industry over the past few years. The global ceiling tiles market segmented into products and applications. On the basis of product type, ceiling tiles market is segmented as mineral wool, metal, gypsum, wood and other. The market is mainly driven by mineral wool, and accounted for over 40% of the total market share in 2014, due to its properties such as fire safety, high performance, thermal insulation and noise reduction. Gypsum tiles market is expected to exhibit fastest growth rate during the forecast period.
On the basis of applications, ceiling tiles market is segmented into commercial, healthcare, educational, industrial and others. Commercial sector was the fastest growing application market for ceiling tiles in 2014. Commercial ceiling tiles segment is rapidly growing in Asia Pacific region and it is driven by extensive building and construction activities such as office as hotels, warehouses, retail houses, etc. This expected to have a positive impact on the global ceiling tiles market development. Healthcare and industrial application are another important application markets for the ceiling tiles.
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North America and Europe are the fastest growing regional markets for ceiling tiles. North America ceiling tiles market is mainly driven by strong demand from U.S. North America dominated the ceiling tiles market in 2014 with over one-third share in total consumption. However, owing to strong growth prospects of the end-user industries such as building & construction, healthcare, industrial, etc. in Asia Pacific region is expected to provide a further boost to the market.
Some of the key industry participants in ceiling tiles market include Knauf, Armstrong Worldwide Industries Inc., OdenwaldFaserplattenwerk GmbH (OWA), LLC, Saint Gobain SA, ROCKFON , Chicago Metallic Corporation, Foshan Ron Building Material Trading Co., Ltd., Haining Shamrock Import & Export Co., Ltd., HainingChaodi Plastic Co. Ltd., Shandong Huamei Building Materials Co., Ltd.,Guangzhou Tital Commerce Co. Ltd. and SAS International.
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