According
to a new report published by Transparency Market Research "Ceiling
Tiles (Mineral Wool, Metal, Gypsum and Others) Market for Commercial,
Healthcare, Educational, Industrial and Other Applications - Global
Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 -
2019" the global demand for ceiling tiles was valued at USD
14.78 billion in 2012 and is expected to reach USD 28.62 billion in
2019, growing at a CAGR of 9.9% from 2013 to 2019. In terms of
volume, the global demand for ceiling tiles was 983.7 million square
meters in 2012.
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Increasing
demand for ceiling tiles due to the growth of the construction
industry is expected to be one of the major factors driving the
demand for ceiling tiles over the next few years. In addition,
financial benefits of waste management of ceiling tiles such as
reduction of carbon content in the manufacturing process are also
expected to contribute to the growth of the market. However,
fluctuating prices of certain energy sources such as crude oil which
also serves as a vital raw material in ceiling tiles is expected to
hamper the growth of the market. Increasing use of ceiling tiles in
green building projects as pro-environmental solutions for building
materials are expected to provide new opportunities for the growth of
the market in the next few years.
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Mineral
wool was the most widely consumed ceiling tile product and accounted
for over 40% of the market share in 2012. Owing to its significant
use in different commercial and educational applications such as
retail stores, hospitals, schools and offices among others, mineral
wool ceiling tiles have been the preferred choice of ceiling
solutions due to their high performance and quality in conjunction to
fire safety, thermal insulation and noise level reduction. Gypsum
ceiling tiles are gaining importance and are anticipated to witness
the fastest growth over the next few years owing to its biodegradable
property. Growing demand for eco-friendly building materials with the
increasing popularity for green buildings is expected to be a
significant factor in driving the market for gypsum ceiling tiles.
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Demand
for ceiling tiles was highest from the commercial segment in 2012.
The commercial ceiling tiles industry has remained a vital part of
the economy despite being negatively impacted by the global economic
downturn in 2008-09. Furthermore, the commercial segment is expected
to witness the fastest growth due to rapid urbanization, particularly
in emerging economies of Asia Pacific and Latin America. The segment
is anticipated to grow at a CAGR of 10.0%, from 2013 to 2019.
Industrial was the second largest application segment of the ceiling
tiles market in the same year. Rising construction activities in
offices, conference rooms, testing and R&D labs coupled with
growing industrialization are some of the major factors which are
expected to drive the industrial infrastructure in emerging economies
of China and India.
