Ceiling Tiles Market Share, Size Global Growth Analysis From 2022-2028 |

The global Ceiling tiles market size was USD 6.19 billion in 2020. The market is projected to grow from USD 6.58 billion in 2021 to USD 10.97 billion in 2028 at a CAGR of 7.6% during the 2021-2028 period. This information is published by Fortune Business Insights™ in its report titled, “Ceiling Tiles Market, 2021-2028.” As per our analysts, as these tiles are chiefly utilized in residential and commercial construction applications such as restaurants, retail shops, workplaces, medical establishments, and hospitals, the growth is attributable to increasing construction and infrastructure activities as the population continues to grow with each passing day. Therefore, the development in construction actions is propelling the demand for these tiles.

As per a data report provided by GlobalABC, a deterioration of 6% was estimated in the construction and infrastructure market in 2020 in comparison with the former year, 2019. However, the market is civilizing through correspondences presented in order to intensify the economy for insightful building renewal and freshly constructed buildings. Additionally, government pitches for healthcare services amid the pandemic are supplementing profit to the market.

Report Coverage

The report presents a holistic study of the ceiling tiles market along with current trends and future anticipations to establish proximate investment gains. An in-depth analysis of any upcoming opportunities, threats, competitions, or driving factors is also mentioned in the report. Step by step, a thorough regional analysis is offered. The COVID-19 impacts have been added to the report to help investors and business owners understand the threats better. The top players in the market are identified, and their strategies to bolster the market growth are shared in the report.

Segmentation

On the basis of material type, the global market is segregated into mineral wool, metal, gypsum, and others. In terms of region, the global market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East Africa.

By application, the market is classified into residential and non-residential.

Drivers and Restraints

Surging Inclination towards Green Construction to Generate Growth Prospects

Real estate investors and financiers are influencing and hastening the emphasis on green buildings investment. This pooled with customer concerns towards contamination and carbon dioxide secretions is generating opportunities for eco-friendly construction, which is navigating the demand for ecological products. As per a report published by IFC, Green Buildings signify one of the biggest global financing beginnings in the upcoming years and is appraised to be US$ 24.7 trillion by 2030.

Regional Insights

Rising Shift of People towards Urban Cities to Help Asia Pacific Lead

Asia Pacific held the maximum ceiling tiles market share and was worth USD 2.30 billion in 2020. Asia Pacific was responsible for the uppermost value in the global market during the mentioned timeframe. The growth of this region can be accredited to commercial expansion and a growing population. Most of the populace in the region are shifting to urban cities and areas on account of industrial sector growth. This has produced great product demand from both marketable and housing applications.

Industry Development

December 2020: Armstrong World Industries, Inc. broadcasted the procurement of Arktura, LLC, which is a designer and fabricator of walls, ceilings, panels, and porticos. This acquisition is likely to further reinforce the collection of architectural forte solutions and design competencies throughout the enterprise.

List of Key Players Covered in the Ceiling Tiles Market Report