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Forecast Report on Global Ceiling Tiles Market

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May 27 2014

Research and Markets has announced the addition of the "Ceiling Tiles Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019" report to their offering.

Ceiling tiles, also known as ceiling panels are sound absorbing, lightweight construction materials which are used to cover a ceiling area. These lightweight tiles are used in the interior of buildings, placed in an aluminum grid for the primary purpose of enhancing the acoustics of a room, besides providing thermal insulation. Owing to the product classification, primary raw materials such as mineral fiber, gypsum and metals are used in the production of these materials.

Ceilings tiles are majorly used in the construction industry, which is further bifurcated into commercial, residential, and industrial applications. The primary components of suspended acoustic ceilings are acoustical and suspension grid panels, where the composition of each varies depending upon the end-use application. Based on their uses, ceiling tiles are widely applied in hotels, offices, transportation terminals, retail stores, hospitals as suspension, building perimeter and drywall grid systems.

The commercial ceiling tiles industry has been witnessing significant growth owing to the increasing construction activities of offices and hotels in developed as well as emerging regions such as Asia Pacific. It has remained a vital part of the economy despite being negatively impacted by the global economic downturn. Industrial application segment had the second largest share in ceiling tiles market. Growing industrialization in several emerging economies such as China and India have led to a significant increase in demand for ceiling tiles for different industrial applications.

The market for ceiling tiles is mature in emerging regions such as North America and Europe, primarily due to the presence of large construction industries in these regions. North America, particularly the U.S., currently dominates the global construction market where ceiling tiles are used in large quantities. However, future market growth is expected to be witnessed from emerging and developing regions such as Asia Pacific owing to rising infrastructure in commercial, industrial and healthcare sectors further boosting the demand for ceiling tiles. The region is anticipated to witness the fastest growth rate, rising at a CAGR of 10.3%, between 2013 and 2019.

Ceiling Tiles Market: Product Segment Analysis