PUBLISHER: The Business Research Company | PRODUCT CODE: 1391081
PUBLISHER: The Business Research Company | PRODUCT CODE: 1391081
“Ceiling Tile Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on ceiling tile market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for ceiling tile? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The ceiling tile market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Ceiling tiles, also known as ceiling panels, drop ceilings, or suspended ceilings, are lightweight construction materials employed to cover ceilings. These tiles are typically arranged in a grid made of steel or aluminum, offering some thermal insulation while primarily serving to enhance the aesthetics and acoustics of a room.
The main installation types of ceiling tiles are surface mount, drop, and suspended. Surface-mount ceiling tiles are characterized by quick and easy installation, making them suitable for concealing stains and popcorn ceilings. These ceilings and planks contribute to maximizing headroom and adding visual interest overhead. Ceiling tiles come in various materials, including mineral wool, metal, and gypsum, each available in different forms such as laminated, fissured, patterned, plain, textured, and coffered. They find application in diverse settings, including residential, commercial, industrial, and institutional spaces.
The ceiling tiles market research report is one of a series of new reports from The Business Research Company that provides ceiling tile market statistics, including ceiling tile industry global market size, regional shares, competitors with a ceiling tile market share, detailed ceiling tile market segments, market trends and opportunities, and any further data you may need to thrive in the ceiling tile industry. This ceiling tile market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.
The ceiling tile market size has grown strongly in recent years. It will grow from $8.1 billion in 2023 to $8.77 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The expansion observed in the historical period can be attributed to various factors, including increased commercial construction activities, a heightened focus on aesthetic appeal in architectural design, increased adherence to fire safety regulations, growth in residential renovations, and the rapid pace of urbanization. These factors collectively contributed to the demand and utilization of ceiling tiles during this period.
The ceiling tile market size is expected to see strong growth in the next few years. It will grow to $12.06 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. Anticipated growth in the forecast period can be attributed to several factors, including an increasing emphasis on energy efficiency, rising concerns about noise pollution, a growing focus on health and well-being, a heightened commitment to sustainability, and an increase in residential construction. Noteworthy trends expected in the forecast period encompass technological advancements, the emergence of smart ceiling tiles, integration with home automation systems, the adoption of customized products, and ongoing product innovations in the ceiling tile industry.
The surge in construction activities is a significant driver for the growth of the ceiling tile market. With construction encompassing the creation, modification, and demolition of structures, the rise in upscale residential and commercial developments, including high-end apartments, houses, and skyscrapers in developing nations, is fueling the demand for premium ceiling tiles. Oxford Economics forecasts an 85% growth in the volume of construction output by 2030, with China, India, and the USA playing pivotal roles in this expansion. The robust increase in construction activities serves as a primary catalyst for the growth of the ceiling tile market.
The growing emphasis on energy-efficient buildings is poised to propel the ceiling tile market forward. Energy-efficient buildings prioritize minimizing energy consumption while maximizing efficiency and occupant comfort. Ceiling tiles contribute significantly to energy-efficient building practices by offering benefits such as insulation, noise absorption, and thermal energy storage. These attributes collectively contribute to reduced energy consumption and overall improved efficiency. According to the International Energy Agency, building energy efficiency investment saw a substantial increase, surpassing USD 250 billion in 2022, marking a 14% growth. The heightened demand for energy-efficient building solutions is a key driver for the ceiling tile market.
Innovation in product offerings stands out as a prominent trend in the ceiling tile market. Manufacturers in the ceiling tile sector are focusing on developing cutting-edge products to enhance their market positions. A notable example is ClearOne Communications Inc., a US-based company specializing in network streaming, conferencing, and collaboration solutions. In June 2023, ClearOne Communications introduced the BMA 360D, recognized as the world's most advanced beamforming microphone array ceiling tile. This innovative product, the BMA 360D, not only delivers unparalleled audio performance but also offers native interoperability with any Dante-enabled DSP mixer, showcasing the industry's commitment to ongoing advancements.
Prominent companies in the ceiling tile market are strategically forging partnerships to enhance their capabilities and better cater to the needs of their existing customers. An illustrative example is Rockfon LLC's partnership with Akuart A/S, announced in March 2021. This collaboration brings together the expertise of AKUART in acoustic design and Rockfon's proficiency in acoustic stone wool and metal ceiling systems. By combining their strengths, AKUART and Rockfon aim to deliver exceptional audio solutions with aesthetic significance. Rockfon's commitment to creating practical and visually appealing acoustic solutions aligns well with AKUART's focus, contributing to enhanced offerings for spaces such as offices, schools, hospitals, and recreational venues across Europe.
In a similar vein, Design Pool has entered into a strategic partnership with Ceiling Scenes, a collaboration announced in May 2022. This partnership empowers customers with the option of printing on ceiling tiles, a service provided by Ceiling Scenes, renowned for creating striking ceiling murals featuring sky, cloud, nature, or custom images directly on acoustic ceiling tiles or light diffuser panels. The collaboration with Design Pool expands the design possibilities for interior designers, offering a diverse array of patterns and images for custom-printed ceiling tiles. This strategic partnership enhances the creative capabilities and options available to designers, providing a broader spectrum of choices for various projects.
Major companies operating in the ceiling tile market include Rockwool International A/S, USG Corporation, Hunter Douglas N.V., SAS International Ltd., Odenwald Faserplattenwerk GmbH, Knauf Gips KG, Saint Gobain India Pvt. Ltd., Byucksan Corporation, KET Ceilings, AWI Licensing LLC, New Ceiling Tiles LLC, CertainTeed Corporation, HIL Limited, Rockfon LLC, Armstrong World Industries Inc., Haining Shamrock Import & Export Co. Ltd., Georgia-Pacific LLC, Gypsum Management and Supply Inc., National Gypsum Company, Acoustic Ceiling Products LLC, Ceilume, Chicago Metallic Corporation, Decoustics, Ecophon, Foshan Ron Building Material Trading Co. Ltd., Guangzhou Titan Commercial Co. Ltd., Haining Chaodi Plastic Co. Ltd., Knauf Danoline A/S, Hunter Douglas Architectural, OWA Ceiling Systems GmbH, Shandong Huamei Building Materials Co. Ltd.
Asia-Pacific was the largest region in the ceiling tile market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the ceiling tile market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the ceiling tile market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The ceiling tile market consists of sales of PVC tiles, metal tiles and wood false ceilings. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.