The Ceiling Tile Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Ceiling Tile Global Market Report 2024, The ceiling tile market size has grown strongly in recent years. It will grow from $8.1 billion in 2023 to $8.77 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to increased commercial construction, increased focus on aesthetic appeal, increased fire safety regulations, growth in residential renovations, and rapid urbanization
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The ceiling tile market size is expected to see strong growth in the next few years. It will grow to $12.06 billion in 2028 at a compound annual growth rate (CAGR) of 8.3%. The growth in the forecast period can be attributed to increasing focus on energy efficiency, increasing noise pollution concerns, increasing health and wellbeing focus, growing sustainability, and increasing residential construction. Major trends in the forecast period include technological advancements, smart ceiling tiles, integration with home automation, adoption of customized products, and product innovations.
The increase in construction is significantly contributing to the growth of the ceiling tile market going forward. Construction is the process of building, altering, repairing, remodeling, improving, or demolishing any structure. The rise of high-end apartments, houses, and skyscrapers in developing countries is driving the growth of premium ceiling tiles. For instance, according to Oxford Economics, a UK-based company that provides global economic forecasting, the volume of construction output is expected to grow by 85% by 2030. The major countries contributing to this growth are China, India, and the USA. Therefore, the increase in construction is driving the ceiling tile market growth.
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The ceiling tile market covered in this report is segmented –
1) By Installation: Surface Mount, Drop or Suspended
2) By Material Type: Mineral Wool, Metal, Gypsum, Other Materials
3) By Form: Laminated, Fissured, Patterned, Plain, Textured, Coffered
4) By Application: Residential, Commercial, Industrial, Institutional
Product innovations have emerged as the key trend gaining popularity in the ceiling tile market. Companies manufacturing ceiling tiles are developing innovative products to strengthen their positions in the market. For instance, in June 2023, ClearOne Communications Inc., a US-based network streaming, conferencing, and collaboration solutions company, launched BMA 360D, the world’s most sophisticated beamforming microphone array ceiling tile. The BMA 360D provides unparalleled audio performance as well as native interoperability with any Dante-enabled DSP mixer.
The ceiling tile market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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