Ceiling Tiles Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019
A recently released report by Transparency Market Research (TMR) forecasts that the global ceiling tiles market will expand at a CAGR of 9.9% from 2013 to 2019. TMR, a market intelligence firm, states that by 2020, the global ceiling tiles market will reach US$28.62 billion by the end of the forecast period from US$14.78 billion in 2012. The report, titled “Ceiling Tiles Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019”, is available for sale on the company website.
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According to this research report, the key factors that drive the global ceiling tiles market are environmental and financial advantages of waste management of ceiling tiles and the surging demand for ceiling tiles from the expanding construction industry. Ceiling tiles or ceiling panels refer to lightweight and sound absorbing construction materials that are used in buildings for thermal insulation and increasing the acoustics of rooms. At present, the global ceiling tiles market is characterized by greater use of ceiling tiles in green buildings. Ceiling panels are used extensively in drywall grid systems, building perimeters, retail stores, offices, hotels, hospitals as suspensions, and transportation terminals.
This TMR report segments the global ceiling tiles market on the basis of product, application, and geography. On the basis of product type, this market is categorized into gypsum, metal, mineral wool, and others. Mineral wool is the most preferred choice in commercial and educational applications. Owing to the advantages of waste logistics of mineral wool, the demand for mineral wool is projected to increase during the forecast period. With greater use of biodegradable and eco-friendly building materials, the demand for gypsum ceiling tiles is anticipated to increase significantly in the years to come.
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Application-wise, the global ceiling tiles market is segmented into industrial, healthcare, educational, commercial, and others. In 2012, the demand for ceiling tiles was by far the highest in the commercial segment. The Asia Pacific market for commercial ceiling tiles is mainly driven by the widespread proliferation of hotels and office spaces in this region.Increasing use of ceiling tiles in most green building projects is expected to stimulate the demand for ceiling tiles in the near future.
Geographically, this research study segments the global ceiling tiles market into Asia Pacific, Europe, North America, and Rest of the World. Industrialization is a prominent factor that drives the market for ceiling tiles in countries such as India and China. The high concentration of key construction industries in Europe and North America makes these two regions highly matured markets for ceiling tiles. Widespread application of ceiling tiles in construction activities in the U.S. is a major factor propelling the North America ceiling tiles market. The prominent companies in the global ceiling tiles market identified in this research report are Knauf, USG Corporation, SAS International, Odenwald Faserplattenwerk GmbH, Saint-Gobain SA, Rockfon, and Armstrong World Industries Inc., amongst others.
Ceiling Tiles Market: Product Segment Analysis
- Mineral wool
- Others (Wood, plastics, etc.)
Ceiling Tiles Market: Application Analysis
- Others (Shopping malls, residential, etc.)
Ceiling Tiles Market: Regional Analysis
- North America
- Asia Pacific
- Rest of the World (RoW)
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