Ceiling Tiles Market - Segmentation and Major key Players Analysis By 2023
The ceiling tiles market growth is hampered by high raw material costs associated with the product. Adding further, availability of various substitutes in the market for ceiling tiles is another factor restricting market growth. Asphalt and Mortar tiles are some of the alternatives to the product hindering market growth. Asphalt tile is one of the least expensive used tiles in the market. apart from the above-mentioned reasons, the installation cost of ceiling tiles is also high as it requires professional contractors for the same.
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Global ceiling tiles market is segmented based on raw materials into mineral wool, metal, gypsum and others. Mineral wool segment includes cast mineral fiber, wet felt and fiberglass. The excellent performance attributes of the material like acoustic and thermal insulation, recyclability and being light weight have increased its demand in the ceiling tiles market. Moreover, steel, tin and aluminum are few metals that are used to manufacture ceiling tiles. The metals offer crisp, clean and well sophisticated display for interiors. Also, ceiling coated with powdered metal provides corrosion resistance and tough finishing to the ceiling. Gypsum on the other hand, provide benefits such as reduced weight for the structure, easy installation, repair and maintenance. This material is mostly used in offices to improve aesthetics by applying a colored gypsum board.
Based on application, the ceiling tiles market is segmented into residential and non-residential buildings. Ceiling tiles are majorly used in non-residential applications with a minor share in residential one. It is majorly used in commercial spaces like retail, healthcare and hospitality industries. They are also utilized in medical hallways, corridors, operation theaters, diagnostic and clinic centers. These tiles are used to highlight the aesthetics as well as interior of commercial buildings and to provide enhanced thermal and acoustic insulation. Moreover, residential sector is also expected to attain higher growth in future as a result of increasing spending on renovation and repairing activities in housing sector.
North America accounts to be the major region for ceiling tiles market attributed to technological advancements in the region together with increasing demand of acoustic insulation in the region. The U.S. has registered itself as the major country owing to shifting consumer preferences towards innovative construction materials coupled with rising need for soundproof and decorative interiors in commercial sector. Europe is another region that seeks a significant growth for the ceiling tiles market accredited to availability of easy installation solution, presence of an established construction sector and stringent government policies to particulate emissions.
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Global ceiling industry exhibits several players providing a diversification in products which also leads to a high rivalry among market competitors. Key players in the ceiling tiles market are USG Corporation; Armstrong World Industries, Inc.; Saint-Gobain S.A.; Hunter Douglas, Inc, SAS International and Rockwool International A/S.
Ceiling Tiles Market, By Raw Materials, 2014-2025 (Square Meters) (USD Million)
- Mineral wool
- Metal
- Gypsum
- Others
Ceiling Tiles Market, By Application, 2014-2025 (Square Meters) (USD Million)
- Residential
- Non-Residential
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