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Jan 16, 2020 3:47 AM ET

Ceiling Tiles Market is Forecast to Grow at CAGR of 10% During 2020-2025


Ceiling Tiles Market is Forecast to Grow at CAGR of 10% During 2020-2025

iCrowd Newswire - Jan 16, 2020

Ceiling Tiles Market is forecast to reach $10.34 billion by 2025, after growing at a CAGR of 10% during 2020-2025. The ceiling tiles market is driven by extensive building and construction activities. The other mega trend which is transforming the building and construction industry is the population outbreak in the urban areas who need affordable housing. 
 
Key Takeaways
  • Asia-Pacific dominates the ceiling tiles market owing to strong construction activities in the region with emerging markets such as China, India, and Malaysia. 
  • Suspended Acoustic Ceiling types of system is versatile, durable, and cost effective. Acoustic ceiling tiles are popular ceiling material that now has a wide variety of aesthetic options. 
  • The metal works and wood works ceiling system is further strengthening the ceiling tiles industry. As both the tiles system offers excellent finish, fire resistance, as well as sound performance. 
Type- Segment Analysis
 
Mineral Fiber Ceiling held the largest share in the ceiling tiles market in 2019. The mineral fiber ceiling tiles offers advantages such as sound insulation, durability, resistance to fire and light reflectance. They are extensively used in non-residential buildings such as offices, hospitals, retail stores and others. The joint venture, R&D, and product launches will strengthen the mineral fiber ceiling tiles market. Rockfon North America, has entered into an agreement with Geometrik Manufacturing Inc. to sell and market its portfolio of product and systems in the United States.
 
Property – Segment Analysis
 
The acoustic ceiling tiles are used for sound control and noise reduction. The acoustic ceiling tiles have three categories such as sound absorbing, sound blocking, and sound diffusing ceiling tiles. The soundproofing tiles manage noise control in large or small areas to keep acoustics in balance for occupant comfort. High density fiber glass board, substrates like acoustical foam and polyester are used as primary material for manufacturing of acoustic ceiling tiles. Further, the R&D by manufacturers will boost the acoustic ceiling tiles market with introduction of advanced acoustic ceiling tile products. CertainTeed Ceilings has opened R&D facility in Kulpsville, Pa.to offer high performance acoustic ceilings products.  
 
Application – Segment Analysis
 
Non-Residential has been the primary market for ceiling tiles. According to Oxford Economics the construction output in terms of volume will grow by 85% globally by 2030. China, U.S, and India leading the path and accounting for 57% of overall growth. In a report published by U.S Census Bureau 2019, Construction spending during September 2019 was estimated to be around $1,293.6 billion which grew by 0.5 percent compared to the previous month. The spending on private construction was$961.7 billion in the month of September 2019. Whereas the spending on public construction was $331.9 billion, up by 1.5 percent than previous month. In China the construction industry will have a stable growth in next five years. Non-residential will experience stable growth with improvement, investment and focus from government and private bodies into infrastructure sector. 
 
Geography- Segment Analysis
 
APAC dominated the ceiling tiles market with a share of more than 38%,followed by North America and Europe. In the developing region such as APAC, the expansion of construction industry contributes into the growth of ceiling tiles market. The Asia Pacific construction industry is worth $4.95 trillion (excluding India) and is expected to reach $5.45 trillion by 2021 according to ENG Cranes. The healthy economic growth in APAC had risen the construction activities in the region. 
 
By 2020, one half of global construction spending is expected to come from APAC countries with China, Indonesia, Japan, South Korea, and Malaysia are exhibiting the highest growth potential. India is expected to grow at twice the rate of China over the next decade especially into infrastructure sector where government is investing approximately $376.5 billion over the next three years. Japan’s residential and infrastructure construction accounts for 28 to 33 percent of construction activities. Further, the construction activity is expected to rise in next few years because of upcoming Olympic Games. 
 
Drivers –Ceiling Tiles Market
  • Innovative biodegradable Gypsum tiles 
Biodegradable bagasse gypsum ceiling tiles have much higher flexural strength, better resistance to moisture and similar flammability compared to commercially used gypsum based ceiling tiles. The bio-based renewable material such as bamboo and coir are being incorporated for indoor and outdoor applications. The option to recycle gypsum board is widely available but the major problem associated with it is the anaerobic decomposition of gypsum can produce harmful gasses such as hydrogen sulfide. Whereas the Biodegradable bagasse gypsum has the properties to overcome the harmful effects associated with conventional gypsum board. 
  • Functional Innovations in Ceiling tiles
The manufacturers are improving the functionality of ceiling tiles apart from its aesthetic appeal. The ceiling grid system that can carry low-voltage electrical current can be employed into the ceiling tiles with high functionality. 
 
Challenges – Ceiling Tiles Market
  • Environmental element impact on ceiling tiles. 
Despite of having perfect ceiling tile type for space needs, tiles faces some impact subject to the environment. Most acoustical ceiling panels are designed for use in the normal occupancy temperature range and a maximum relative humidity of 70%. However, humidity and temperatures impact on tiles and exceeds the relative humidity ranges. The environmental impact can be overcome with humidity resistant panels specifically designed to withstand higher humidity levels to minimize sagging.
 
Market Landscape
 
Technology launches,acquisitions and R&D activities are key strategies adopted by players in the ceiling tiles market. In 2019, the market of ceiling tiles has been consolidated by the top five players accounting for xx% of the share. Major players in the ceiling tiles Market are SAS International, ROCKFON, USG Corporation, and Odenwald Faserplattenwerk GmbH,among others. 
 
Acquisitions/Technology Launches
  • In August 2019, Aurelius Equity Opportunities SE & Co. has signed a deal to buy Armstrong Ceiling tiles from Knauf International GmbH. The deal consist two production facilities situated in Team Valley/UK and business operations and sales capabilities across eleven markets.

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