The global ceiling tiles market is anticipated to register significant growth over the span of 2022-2028. This can be credited to a considerable increase in the number of construction projects worldwide, surge in product demand in construction of green buildings, augmenting use of ceiling tiles for enhancing aesthetic looks, and surging for replacing old or damaged tiles.
Ceiling tiles, also regarded as ceiling panels, are lightweight construction materials used to improve the overall aesthetics of a room or space. These can be used for various ceiling types like tray, shed, vaulted, domed, suspended, and decorative. Some of the merits associated with ceiling tiles include low-maintenance, durability, thermal insulation, fire-resistance, and absorption of sound.
Furthermore, the market size is expected to be propelled by the ongoing technological developments, enabling manufacturers to ease the installation process which guarantees perfect alignment and optimum finished look to consumers. For instance, Diamond View Studios, in partnership with Mo-Sys Engineering recently developed first in-panel tracking solution, Vu LED Ceiling Panels that feature retro-reflective technology integrated into the panel.
Based on the raw material, gypsum ceiling tiles market is slated to account for considerable proceeds during the analysis period owing to the product’s increasing demand worldwide as a false ceiling component. Unprecedented advantages associated with gypsum as ceiling panels include offering superior fire protection, thermal insulation properties, enhanced sound insulation, sturdy and flexible frames, supporting reduced electricity consumption, and availability of different product options.
Continuous advancements and product diversifications in the space are adding to the increased gypsum ceiling tiles market valuation. For example, Saint-Gobain India Pvt. Ltd’s subsidiary Gyproc unveiled its first production facility for ceiling tiles in Gujarat. The motive behind this initiative is to cater to the demand for gypsum ceiling tiles across the Indian sub-continent.
In terms of the application, ceiling tiles market size would grow notably from rising product demand across the residential sector. The growth in the segment can be attributed to a surge in expenditure towards repair and renovation in the housing sector. Besides, rising urbanization and decent growth in the residential construction activities worldwide would open new growth opportunities for ceiling tiles business players in the industry. Additionally, an upsurge in the green building construction trends in wealthy economies of North America and Europe would further lead to market growth in the coming years. According to CBRE, nearly 41% of green certified office spaces were present across America’s 30 leading metros as of 2018.
Geographically, Asia Pacific ceiling tiles market is poised to account for substantial gains through 2027, credited to the rising consumer disposable incomes in various developing countries like India, China, and others, resulting in increased adoption of modern construction practices. Furthermore, factors like high population explosion, urbanization, and ongoing renovation activities in commercial and residential places would further strengthen the regional market space in the ensuing years.
Key players operating in the global ceiling tiles industry include Saint-Gobain S.A., USG Corporation (Knauf, Gebr. Knauf KG), SAS International, Armstrong World Industries, Inc., Hunter Douglas, Inc (Hunter Douglas), Rockwool International A/S and others.
These conglomerates are taking up different strategic initiatives like mergers and acquisitions, facility expansion, product launches, and partnerships, to gain a competitive edge in the global market.
The SARS-CoV-2 infection, which has created havoc worldwide disrupting various businesses and economies, has had a moderate influence on the construction industry. The sector witnessed a considerable decline in the residential building and commercial activities during 2020, producing a downfall in the sales of ceiling tiles and panels. Besides, imbalance in raw material supply and demand had as well negatively impacted the ceiling tiles market growth curve.