Ceiling Tiles Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019
The global ceiling tiles market is growing rapidly because of the constant rise in construction activities, which has resulted in high demand for ceiling panels and related construction materials, states Transparency Market Research in its new report ‘Ceiling Tiles Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019.’
Browse the full Ceiling Tiles (Mineral Wool, Metal, Gypsum and Others) Market For Commercial, Healthcare, Educational, Industrial and Other Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019 report at : http://www.transparencymarketresearch.com/ceiling-tiles-market.html
The key statistics estimated in this report on the global ceiling tiles show that the overall market is anticipated to reach a value of US$28.62 billion by the end of 2019 from a value of US$14.78 billion observed in 2012. The total growth and demand for ceiling tiles is set to register a 9.9% CAGR from 2013 to 2019, across several regions in the world. Calculated in terms of volume, the global demand for ceiling tiles was 983.7 million square meters in 2012.
Ceiling tiles are typically building materials used in the construction industry, particularly ceiling areas of a specific structure or building. The study discusses the applications and material characteristics of the market for ceiling tiles around the world. Mostly made up of metal, wood, plastic, wool, and gypsum, ceiling tiles help to serve different purposes such as fire insulation, sound absorption, and heat insulation found in hotels, hospitals, offices, schools, or residential buildings. According to the analysis of the report, the ceilings tiles market is classified into commercial, residential, and industrial applications.
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Among these, the demand for ceiling tiles was greatest from the commercial sector. In 2012, this segment accounted for US$5.03 billion with expectations to rise at the fastest pace in the next few years. Many emerging regions such as Europe and North America are significantly witnessing growth in the commercial ceiling tiles market due to rising construction activities of hotels and offices that need ceiling tiles and panels to accomplish basic aesthetics. The commercial ceiling tiles market has remained an important part of the global economy despite economic downturns all around the world.
The industrial application segment is considered to be the second-largest market segment with shares at a distant second in the global ceiling tiles market. Growth in this market segment is mainly due to the contribution of China and India. The rapid pace of industrialization in these emerging economies has led to a high demand for ceiling tiles for different industrial applications. Rise in construction activities and development of infrastructure in industrial, commercial, and healthcare sectors within the Asia-Pacific region are further boosting the demand for ceiling tiles. In the next four years, Asia Pacific is expected to rise at a 10.3% CAGR during the forecast period of 2013-2019.
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