Ceiling tiles, also known as ceiling panels are lightweight construction materials, which are used to cover ceilings. Placed in an aluminium grid; they provide some thermal insulation but are usually designed to improve the aesthetics and acoustics of a room. They are commonly used in the commercial, residential, and industrial applications, useful in, retail stores, offices, hotels, hospitals and so on.
The global ceiling tiles market was valued at USD 14.8 billion in 2014 and is expected to reach USD 30.0 billion by 2020, growing at a CAGR of around 9%. In terms of volume, the global ceiling tiles market stood at 990 million tons in 2014.
The global ceiling tiles market can be segmented into products and applications:
- On the basis of product type, the market is segmented as mineral wool, metal, gypsum, wood and other. The market is dominated by mineral wool, which accounted for more than 40% of the total market in 2014, due to properties such as fire safety, high performance, thermal insulation and noise reduction. Gypsum tiles market are expected to exhibit fastest growth rate in the next few years.
- On the basis of applications, the market is segmented into commercial, healthcare, educational, industrial and others. The commercial sector was the fastest growing in 2014. The commercial ceiling tiles segment is growing rapidly in the Asia Pacific region, driven by extensive building and construction activities such as offices, hotels, warehouses, retail houses, and so on. Healthcare and industrial applications are also important application markets for the ceiling tiles.
North America and Europe are the fastest growing regional markets. North America is driven by strong demand from U.S. It dominated the ceiling tiles market in 2014 with more than a third share of the total consumption. Strong growth prospectus in the Asia Pacifica are expected to provide a further boost to the market.
Some of the key industry participants in ceiling tiles market include Knauf, Armstrong Worldwide Industries Inc., OdenwaldFaserplattenwerk GmbH (OWA), LLC, Saint Gobain SA, ROCKFON , Chicago Metallic Corporation, Foshan Ron Building Material Trading Co., Ltd., Haining Shamrock Import & Export Co., Ltd., HainingChaodi Plastic Co. Ltd., Shandong Huamei Building Materials Co., Ltd.,Guangzhou Tital Commerce Co. Ltd. and SAS International.
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