(MENAFN- GlobeNewsWire - Nasdaq) Westford USA, June 14, 2023 (GLOBE NEWSWIRE) -- The global ceiling tiles market size is expected to reach USD 14.03 billion by 2030 and exhibit a CAGR of 9.3% in the forecast period (2022−2030), according to Skyquest's latest research report. The increasing demand for acoustic insulation, growth in the construction industry, energy efficiency and sustainability, renovation and retrofitting activities, and rising health and safety concerns fuel the Market's growth. Government Subsidies and Incentives to Promote the Use of Ceiling Tiles
At a global scale, increased use of eco-friendly materials, acoustic performance, modular design for easy installation, integration with smart technology and customization and personalization are the trends promoting the market growth.
Governments across the globe are playing significant roles by initiating several initiatives and regulations such as energy efficiency regulation, sustainability initiatives, building quotes and safety regulations, tax incentives and rebates, and research and development funding. For example, the Energy Star program in the United States. The program is conducted by the Environmental Protection Agency (EPA) and promotes energy-efficient products, including ceiling tiles, that meet certain standards for energy performance.
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Mineral Fibre Type Demand to Grow Substantially in the Forecast Period
Mineral fiber type dominated the global market owing to its high Use in commercial and institutional buildings. It also has several properties such as fire resistance, moisture resistance, and cost-effectiveness. Moreover, Mineral fiber ceiling tiles have excellent sound absorption properties, making them ideal for use in buildings where noise control is important, such as offices, schools, and hospitals.
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Commercial Segment is the Leading Application Segment
In terms of application, the commercial segment is the leading segment due to the demand in the wide range of buildings such as offices, retail stores, hospitals, hotels and educational institutions. In addition, the construction majorly requires sound, insulation, aesthetics, energy efficiency, fire resistance, and easy maintenance that can be provided by ceiling tiles.
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Asia-Pacific and North America are the leading Markets Due to the Strong Construction Industry
Region-wise, North America is one of the largest growing markets due to the strong construction industry. North America is home to several leading manufacturers of ceiling tiles to develop innovative products with advanced features, such as acoustical performance and sustainability. Moreover, the commercial sector in North America is large and diverse, including office buildings, retail stores, hospitals, and educational institutions. Ceiling tiles are an essential component of many commercial buildings, driving demand in the region.
Browse in-depth TOC on " Ceiling Tiles Market "
Pages - 242
Tables - 62
Figures - 75
Ceiling Tiles Market Report Suggests:
Installed Building Products, Inc. (NYSE: IBP), a leading installer of insulation and building products, has announced the acquisition of General Ceiling & Partitions, Inc. (GCP), a Colorado-based company specializing in drywall, framing, ceiling tiles, and firestopping/insulation for commercial customers. Additionally, IBP has acquired Reliable Glass & Mirror, LLC, a Louisiana-based provider of glass and mirror installation services for both residential and commercial customers. In terms of application, the commercial segment dominates due to the demand in the wide range of commercial construction. In terms of material type, the mineral fiber type segment is projected to gain more popularity due to its high use in commercial and institutional buildings. North America and Asia Pacific are leading markets and will continue to exhibit dominance in the global market mainly due presence of major market players
Ceiling Tiles Market Segmentation:
The global Ceiling Tiles market report is segmented based on Product type, material type, application, and region.
By Product Type
Acoustic ceiling tiles Decorative ceiling tiles Functional ceiling tiles Others
By Material type
Mineral fiber Gypsum Metal Wood Others
By Application
Commercial sector Residential sector Industrial sector Others
By Region
Germany France UK Spain RoE
China India Japan South Korea Rest of Asia-Pacific
South Africa GCC Countries Rest of MEA
Ceiling Tiles Market Major Company Profiles:
DS Smith Inteplast Group Mondi Group Smurfit Kappa Group Signode Industrial Group Coroplast Fritz Müller GmbH & Co KG Axxion Industries Primex Plastics Corporation Pinnacle Packaging Industries Nilex Inc. KARTON S.p.A. JX Nippon ANCI Corporation Yamakoh Industries Röchling Group Europac Group Proline Corex Plastics Cartonplast Group B & C Plastics Dynaflex Private Limited.
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