Market Research Future added New Report Named "Global Ceiling Tiles Market Research Report- Forecast 2023" to its Database
Online PR News – 06-August-2019 – pune – Global Ceiling Tiles Market Information Report, By Product (Mineral Wool, Metal, Gypsum, Wood and Others), By Installation Type (Drop In, and Glue Up), By Application (Residential and Non-residential) and By Region - Forecast To 2023
Ceiling tiles are essentially lightweight building materials used for covering the ceiling area. Ceiling tiles are usually used in industries such as the retail store, offices, building perimeter, hotels, hospitals, and transportation terminals.
Increased consumption in the Asia is considered as one of the driving factors responsible for the growth of the ceiling markets. According to Tile Edizioni, global tile consumption rose to 12,175 million sq.m in 2015, which is 0.8% more than the previous year. With increasing construction activities in the APAC region, especially in the countries of India, China and Indonesia, there is seen an increasing demand for such tiles.
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The governments across all regions are seen endorsing and evolving their construction sector. The emerging nations are mostly bringing various reform and guidelines to boost their infrastructure growth and real-estate market. Such growth is expected to enhance the market growth of ceiling tiles. For case in point, the government of India publicized several major policy initiatives such as the passage of the Real Estate (Regulation and Development) Act 2016, 100% deduction in profits for affordable housing construction, the amendment to the Benami Transactions Act, change in arbitration norms for construction companies, and many others to boost the construction industry in the country. This is expected to spike the demand for ceiling tiles in the developing economies.
The rise in FDI inflows was more noticeable in developed economies, which received USD 962 billion in 2015, i.e. 84% more than in 2014. The Asia-Pacific region continually received a significant amount of FDI inflows. The FDI inflows in Asia-pacific region has led to augmented construction projects and housing development. This was coupled with FDI in retail which has pushed the retail outlets in the region. This induces the demand for ceiling tiles in the region.
Global Ceiling Tiles Market - Competitive Analysis
There is a wide presence of small and medium sized players in the ceiling tiles market across the globe. These small and medium players are competing with the global players who are progressively expanding their footprint in the developing economy. The market is witnessing stiff competition which is expected to get intensified during the forecast period.
In Jan 2018, Armstrong introduced a new direct attach installation option for its SoundScapes Blades line linear acoustical panels. Armstrong Ceiling & Wall Solutions offered design flexibility, so it becomes possible to attach the panels to decks, ceilings, walls, drywall, metal, or other surfaces. SoundScapes Blades panels is a combination which features acoustical absorption with upscale linear design to lessen reverberation time.
In March 2018, Rockfon opened their first North American acoustic ceiling panel facility. Their entire range of specialty metal ceiling panels and Chicago Metallic suspension systems are now produced in the U.S. This enhanced their service and increased efficiency for their North American customers.
In 2016, Knauf introduced Knauf Slimgrid suspended ceiling system in its ceilings portfolio. This provides customers with a quick way to install suspended plasterboard ceilings effortlessly and reasonably. These systems are designed to be easily connected to form striking, ridged plasterboard ceilings. These can also be installed up to 30% faster than orthodox gypsum ceiling suspension systems.
Global Ceiling Tiles Market - Segments
Global Ceiling Tiles Market is segmented in to 4 Key dynamics for an easy grasp and enhanced understanding.
Segmentation By Product : Comprises - Mineral Wool, Metal, Gypsum, Wood and Others
Segmentation By Installation Type : Comprises - Drop In, and Glue Up
Segmentation By Application : Comprises - Residential and Non-residential
Segmentation By Regions : Comprises Geographical regions - North America, Europe, APAC and Rest of the World.
Global Ceiling Tiles Market - Regional Analysis
The Asia-Pacific region dominated the global ceiling tiles market in 2016. It is also expected to be the fastest growing region for the ceiling tiles. Growing urbanized population, expansion in manufacturing industry, and growth in spending capacity are the factors driving the growth in Asia-Pacific region. China is the leading markets in the Asia-Pacific region due to increased construction of residential houses. Moreover, the Chinese government issued several constructive policies for lowering the proportion of down payment and exempting of sales tax for housing. This has helped the commercial housing market in China. Also, the increasing demand for sustainable construction and government supporting the same is fueling the demand of ceiling tiles market in the region.
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