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Ceiling Tiles Market Overview
Ceiling Tiles Market is projected to be worth USD 18.83 Billion by 2030, registering a CAGR of 8.4% during the forecast period (2022 – 2030), The market was valued at USD 10.32 billion in 2021.
The rising construction activities have been an important stimulus to the development of the market for ceiling tiles. Market reports connected with the basic chemicals industry have been presented by Market Research Future which generates reports on other business verticals that reviews the recent market scenarios.
Increased construction activities worldwide due to the revitalization of the global economies is expected to boost the market for ceiling tiles. The escalation in FDI inflows is further proving to be beneficial to the expansion of the market in the coming years. Increase in the number of construction companies globally is expected to further incentivize the expansion of the ceiling tiles market in the forecast period.
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Segmental Analysis
The segmentation of the ceiling tiles market is carried out on the basis of product, installation type, application, and region. On the basis of product, the market is segmented into metal, mineral wool, gypsum, wood and others. Based on Installation Type, the market is segmented into Drop in and Glue up. On the basis of application, the ceiling tiles market is divided into residential and non-residential. On the basis of region, the ceiling tiles market consists of North America, Europe, Asia Pacific and the Rest of the World.
Detailed Regional Analysis
The regional analysis of the ceiling tiles market consists of regions such as North America, Europe, Asia Pacific and Rest of the World. The North America region was responsible for the major market share, in 2016, trailed by the European and Asia Pacific region. The growing demand for low maintenance building products is motivating the development of the market in the North America region. The U.S. is the chief contributor in the global as well as North America ceiling tiles market. Robust growth in the commercial and residential structures in the U.S. is predicted to boost the demand for the market in the region. The Asia Pacific region is anticipated to develop at the maximum CAGR through the forecast period. Countries like India, China, Japan, and Singapore are the main regions in the Asia Pacific region. The increasing non-residential and residential construction activities in the region, are motivating the development of the market. In rest of the world, the Middle East region is anticipated to contribute, considerably during the forecast period primarily due to changing lifestyle and expansion of hotels globally. This is a result of the growing government initiatives concerning the tourism industry in these regions.
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Competitive Analysis
Improved accessibility to diverse resources and capabilities is expected to impel the growth of the market in the coming forecast period. The use of effective strategy execution techniques is anticipated to bear positively on the future growth of the market. Furthermore, the vertical integrations and product strategies of the market is increasing the potential for the market players. The opponents in the market are trying to create leadership that will aid them to acquire a more noteworthy share of the market. Product differentiation has established a favorable product differentiation scenario that is adding to the market’s development. The analysis of the market discloses that it is ready for an increased growth rate in the impending years.
Armstrong World Industries, Inc. (U.S.)
Knauf (Germany)
Grenzebach BSH GmbH (Germany)
Rockfon (U.S.)
USG Corporation (U.S.)
Saint Gobain S.A. (France)
SAS International (U.K.)
Odenwald Faserplattenwerk GmbH (Germany)
Hunter Douglas (The Netherlands)
Burgess CEP (U.K.)
Decorative Ceiling Tiles, Inc. (U.S.)
VANS Gypsum Pvt Ltd (India)
The ReWall Company, LLC (U.S.)
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Industry Updates:
Nov 2018 France’s Compagnie de Saint-Gobain SA recently stated that it would hasten an asset-sale program and overhaul its unit structure in an effort to improve margins and discover savings. Under the new structure, Saint-Gobain will be structured into five reporting units, in relation to the current three divisions and 14 delegations. The new structure is expected to bring in around $283.3 million in savings. The acceleration of the asset-sale program is projected to strengthen margins by around 40 basis points.
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