Ceiling Tiles Market Analysis

Application (Residential, Non-Residential, Industries)

The global ceiling tiles market is segmented and analyzed for demand and supply by application into residential, non-residential, and industries. Out of these, the non-residential segment is anticipated to garner the largest revenue by the end of 2037. The growth of the segment is attributed to growing non-residential construction activities in developed as well as emerging economies such as China, India, Brazil, and South Korea, along with rapidly increasing urbanization. For instance, over 499 billion dollars were spent on new private non-residential buildings in the United States in 2019. Moreover, ceiling tiles are being utilized in various commercial spaces, including retail infrastructures, hospitality and healthcare industries, industrial complexes, and others. As ceiling tiles are used for enhancing overall aesthetics, the interiors of non-residential buildings, and improving insulation in indoor settings, it is estimated to bring lucrative growth opportunities for market expansion.

Product (Metal, Mineral Wool, Gypsum)

The global ceiling tiles market is also segmented and analyzed for demand and supply by product into metal, mineral wool, and gypsum. Out of these three segments, the mineral wool is estimated to hold the largest share during the assessment period. Mineral wool has various advantages over other products such as thermal insulation along with its lightweight nature, and high recyclability power, which has resulted in the high penetration of ceiling tiles made with mineral wool in the market. On the other hand, gypsum is attributed to holding the second-largest share. The ceiling tiles made with gypsum products including gypsum boards that reduces the weight on the metal grid and are easy to install, maintain, and repair, making them an ideal option in the construction industry. Also, gypsum ceiling tiles are being used in modern offices in developed economies to enhance the appearance by adding aesthetic features of colored gypsum tiles.  The gypsum segment growth is expanding due to increased mining consumption, improved technologies, and emerging economies. For instance, based on the International Trade Administration, a US-based government department, mining generated nearly 10% of total GDP in 2020, making it a significant stakeholder to Australia's economy.

Our in-depth analysis of the global ceiling tiles market includes the following segments: