Ceiling Tile are lightweight construction materials used to cover ceilings for decorative or preservation purposes and provides thermal insulation. According to BlueQuark Research & Consulting, the global Ceiling Tiles market is expected to witness a significant growth rate during the forecast period. Factors such as the growing demand for Ceiling Tile utilized in the construction industry are surging in emerging countries like China, India, Brazil, and Australia is expected to drive the demand for Ceiling Tiles in the forecasted years. The ongoing trend to use ceiling tiles instead of paints as it being visually appealing for viewers, and the reduction in maintenance cost propels the demand. Furthermore, the increasing expenditure of people in redecorating their homes has also been surging, with the interior designing industry booming. The ongoing research development in gypsum tiles for biodegradable properties is expected to provide opportunity in the forecasted years. However, the high installation prices are expected to restraint the Ceiling Tile market growth in the forecasted years. Ceiling tile based on the material include gypsum ceiling tile, acoustic ceiling tile, metal ceiling tiles, etc used as false ceiling in many builings.
Commercial Construction is a prime consumer of Ceiling Tile globally and is expected to drive the future market. Commercial Construction includes hospitals, malls, airports, office spaces, multiplexes, and industrial units. Ceiling tile are preferred in all the mentioned places as they provide humidity resistance, thermal insulation, fire resistance, sound blocking, and mildew resistance. The application of ceiling tiles gives the place a visual appeal as well as durability. The increasing multiplexes in the world are expected to drive the demand for ceiling tiles. The United States is one of the largest markets worldwide, with expenditures in the construction industry reaching over USD 1293 billion. During the pandemic, the construction industry lost USD 61 billion in GDP due to lockdowns and decreased the total jobs to roughly 6.5 million, but it is expected to revive in 2021. The increasing commercial construction activities worldwide is driving the Ceiling Tiles industry in the forecasted years.
The Global Ceiling Tiles market was found to be fragmented. Major market players were Armstrong Worldwide Industries Inc. , Saint Gobain SA , Knauf Gips KG , New Ceiling Tiles LLC , Techno Ceiling Products , among others.
The Asia Pacific has been the dominating region in the production and consumption of Ceiling Tile and is expected to continue at the same pace. The Indian construction industry is expected to reach USD 1.4 trillion by 2025. India has also undertaken a Smart Cities Mission that would boost the infrastructure of the selected cities in the forecasted years. 5,9656 projects will be completed under this initiative, out of which 2,734 have already been done by June 2021. India is one of the fastest-growing markets for office spaces globally due to the rising demand for office rentals and the country's emerging start-up and IT sector. According to JLL India, in the first half of 2021, a new supply of office spaces reached 25.11 million square feet, an increase of 75% year on year across major cities such as Delhi, Bengaluru, and Pune Hyderabad, Mumbai, and Chennai. New office competition across these cities increased by 56% year-on-year, compared to 8.6 million square feet in Q1 2020. Due to the increasing urbanization in India, the real estate value in major cities has skyrocketed. The demand for shopping malls for space utilization and ease for the citizens has been surging. India is also investing big to boost its airline industry by rapidly building and expanding existing airports under the Indian Aviation Vision 2040, aiming to have 190-200 active airports by 2040. A new airport is being constructed in Navi Mumbai with an estimated cost of INR 16,700 crore, estimated to be completed by 2031. New Delhi is also constructing its second airport with an estimated cost of INR 10,000 crore in over 5100 hectares of land. China has also been revamping its infrastructure, with the largest airport constructed in Beijing, which opened in 2019, depicts its growth. Thus, with the increasing construction activities in emerging countries like China, India, and Indonesia, the demand for ceiling tiles in the Asia Pacific region is expected to surge in the forecasted years.
In December 2020, Armstrong World Industries acquired Arktura to further strengthen its footing in the ceiling, walls, and partition business in the United States.
Global Ceiling Tiles Market report provides deep insight into the Industrial market's current and future state across various regions. The study comprehensively analyses the Ceiling Tiles market by segmenting based on the Material (Gypsum Ceiling Tiles, Plastic Ceiling Tiles, Tin Ceiling Tiles, Cork Ceiling Tiles, Metal Ceiling Tiles, Others), Property (Acoustic, Non-Acoustic), End-User (Residential, Non-Residential), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report examines the market drivers and restraints and the impact of Covid-19 on the market growth in detail. The study covers and includes emerging market trends, developments, opportunities, and challenges in the industry. This report also covers extensively researched competitive landscape sections with prominent companies and profiles, including their market shares and projects.