According to the report, the market is expected to post impressive gains, expanding staggeringly at a CAGR exceeding 10% throughout the forecast period. Increasing construction and infrastructure development activities are spurring demand. ESOMAR-certified consulting firm Future Market Insights (FMI) has recently published a report on the global ceiling tiles market for the forecast period 2021-2031.
The market posed some lucrative gains in the historical forecast, surpassing US$ 26 billion in revenue as of 2018. Residential and commercial construction industries remain the primary application areas for ceiling tiles. Modern ceiling tiles are also equipped with features such as acoustic and thermal insulation, attributes which shall greatly enhance prospects for key manufacturers.
A major trend gripping the ceiling tiles landscape is the drive toward attaining sustainability in construction. The advent of green buildings is a notable development in this regard, with key players emphasizing attributes including sustainably sourced raw materials as well as using recycled substances to manufacture their products. For instance, Celiume Tiles use 75% less raw material during the manufacturing process and produces 98% post-industrial recycled tiles.
“Mounting environmental concerns are prompting key construction companies to incorporate environmentally-friendly ceiling tiles, providing ample opportunities for manufacturers to expand their product lines,” remarks the FMI analyst.
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Ceiling Tiles Market Key Segments Covered
Material
- Aluminum
- Fiber Glass
- PVC
- Mineral Fiber/Gypsum
- Wood
- Steel
Application
- Residential
- Commercial
- Hospitality
- Industrial
- Institutional
Installation
- Surface Mount
- Drop/Suspended
Form
- Laminated
- Fissured
- Patterned
- Plain
- Textured
- Coffered
Competitive Landscape
Prominent manufacturers are effectively deploying a slew of expansion strategies, ranging from customized product offerings to collaborations, mergers, and other capacity expansion initiatives. The market is highly competitive, given the presence of a wide range of regional and global level players.
In October 2020, CertainTeed launched its Unified Ceilings Solution, a newly realigned ceilings resource focused on the commercial architecture and design industry. The initiative unites the full ceiling and wall product portfolios of CertainTeed, Hunter Douglas, Ceiling Wall Products, Norton Industries, and Decoustics under the umbrella of CertainTeed Architectural.
In March 2021, Rockfon LLC launched its loyalty program for suspended ceiling installers titled MyRockfon through which loyalty club members can earn rewards while purchasing Rockfon products, completing surveys, or sharing photos of their projects. This will provide the company with an opportunity to show that its products are for everyday projects across all sectors, including shops, offices, restaurants, and leisure facilities.
