LONDON, Aug. 09, 2022 (GLOBE NEWSWIRE) — According to The Business Research Company’s research report on the ceiling tile market, the increase in construction is contributing significantly to the growth of the ceiling tile market in the ‘coming. Construction is the process of constructing, altering, repairing, remodeling, improving or demolishing any structure. The rise of high-end apartments, houses and skyscrapers in developing countries is driving the growth of high-end ceiling tiles. For example, according to Oxford Economics, a UK-based company that provides global economic forecasts, the volume of construction output is expected to increase by 85% by 2030. The main countries contributing to this growth are China, the India and the United States. Hence, the increase in construction is driving the growth of the ceiling tile market.
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The size of the global ceiling tiles market is expected to grow from $6.67 billion in 2021 to $7.47 billion in 2022 at a compound annual growth rate (CAGR) of 12.1%. The global ceiling tile industry growth is expected to reach $10.36 billion in 2026 at 8.5% CAGR.
According to the ceiling tile market outlook, product innovations have become the key trend gaining popularity in the market. Companies manufacturing ceiling tiles are developing innovative products to strengthen their positions in the market. For example, in October 2020, USG Boral, a Singapore-based company that manufactures ceiling tiles, launched SHEETROCK Standard Gypsum Board. These boards are certified as trusted brands and are also winners of several international awards. Sheetrock is unique among other plasterboards and is produced with high quality precision, delivering high performance systems developed with advanced research.
Key players in the ceiling tile market are Rockwool International A/S, USG Corporation, Hunter Douglas NV, SAS International, Odenwald Faserplattenwerk GmbH, Knauf Gips KG, Saint Gobain India Pvt. Ltd, Byucksan, KET Ceilings, AWI Licensing LLC, New Ceiling Tiles LLC, CertainTeed, HIL Limited and Rockfon LLC.
The global ceiling tiles market analysis is segmented by surface mount, suspended or suspended installation; by type of material in mineral wool, metal, gypsum, others; by shape in laminate, fissured, patterned, plain, textured, coffered; by application in residential, commercial, industrial, institutional.
Asia Pacific was the greater region in the ceiling tile market in 2021. Asia Pacific should be the fastest growing region in the global ceiling tile market over the forecast period. Regions covered in the global ceiling tile industry overview are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle -East and Africa.
The Global Ceiling Tiles Market Report 2022 – Global Market Size, Trends and Forecasts 2022-2026 is part of a series of new reports by The Business Research Company that provide overviews of the Ceiling Tiles market, analyze the Ceiling Tiles Market and forecast market size and growth for the overall market, Ceiling Tiles Market Segments & Geographies, Ceiling Tiles Market Trends, Ceiling Tiles Market Drivers, Market Restraints ceiling tiles, revenue, profiles and market shares of top ceiling tile market competitors in 1000+ industry reports, covering over 2500 market segments and 60 geographies.
The report also gives an in-depth analysis of the impact of COVID-19 on the market. The reports are based on 150,000 datasets, extensive secondary research and proprietary insights from interviews with industry leaders. A highly experienced and expert team of analysts and modellers provide market analysis and forecasts. The reports identify key countries and segments for opportunities and strategies based on market trends and key competitor approaches.
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