The global ceiling tiles market is
expected to reach USD 10.08 billion by 2025, growing at a CAGR of 9.5%,
according to a new report by Grand View Research, Inc. Increasing construction
of office spaces worldwide is likely to boost the usage of building materials
including mineral wool, metal, and gypsum panels by the end of 2025.
Rise in the working population
group, since the past few years has led to an increased construction spending
in key Asia Pacific countries including China, Vietnam, Bangladesh, Singapore,
India, Thailand, and Malaysia. Construction of new offices across the globe is
estimated to peak in the future.
This scenario is likely to
reflect in developing countries including China, Russia, and India.
Furthermore, currently rising foreign investments coupled with government
initiatives in these countries is projected to boost the construction of
business centers and IT parks in the recent future. These factors are
considered to influence the consumption of construction materials including
ceiling tiles and hence boost their market growth.
Emerging regions especially Latin
America and Middle East & Africa are expected to depict above average
industry growth owing to development of the hotel sector as a result of
increasing government initiatives regarding the tourism industry in these
regions.
U.S. ceiling tiles market volume by product, 2014 - 2025
(Million Square Meters)
Browse full research
report on Ceiling Tiles Market: http://www.grandviewresearch.com/industry-analysis/ceiling-tiles-market
Further key findings from the report suggest:
- In terms of
revenue, the residential segment is expected to rise at a CAGR of 9.4%
over the forecast period. This application segment constituted a revenue
share of 4.6% in 2016.
- Technological
breakthrough in the field of low VOC panels and recyclable tiles is
estimated to offer lucrative growth prospects in the industry by the end
of 2025. Furthermore, development of three dimensional ceiling tiles is
another important milestone that is expected to open new avenues in the
industry.
- Companies are
aiming at achieving optimum business growth through fully integrating
their business operations across the product value chain. For instance,
USG Corporation is engaged in manufacturing ceiling tiles as well as its
precursor gypsum board and has strong distribution network.
- In June 2017,
Armstrong Ceiling Solutions launched a new range of ceiling tiles under
the New Dune eVo brand name. These tiles are 100% recyclable and exhibit
well improved aesthetics and acoustic performance.
- In April
2014, the Rockfon North America, a ROCKWOOL International subsidiary
achieved the UL Environment’s GREENGUARD Gold certification for its low VOC
products. This has enhanced the market position of the company as a key
sustainable player in the past years.
Access Press Release By Grand View Research: http://www.grandviewresearch.com/press-release/global-ceiling-tiles-market
About Grand View Research,
Inc:
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
For more information: http://www.grandviewresearch.com
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