June 13, 2023 07:30 ET | Source: Future Market Insights Global and Consulting Pvt. Ltd. Future Market Insights Global and Consulting Pvt. Ltd.
Valley Cottage, New York, UNITED STATES Mineral Ceiling Board
NEWARK, Del, June 13, 2023 (GLOBE NEWSWIRE) -- The ceiling tiles market size is expected to reach US$ 35.2 Billion by 2023 and US$ 140 billion by 2033, growing at a 14.8% CAGR. Ceiling tiles are becoming more popular throughout the world due to an increasing emphasis on decorating interiors and exteriors in commercial, industrial, and other fields. The growth in the construction and building industry has stimulated ceiling tile manufacturers to prosper.
Commercial construction is expected to expand in light of the increase in skyscrapers, hospitals, colleges, and shopping malls. According to predictions, the market will grow due to factors including the growing demand for thermal insulation and acoustic insulation. Metalworks ceilings are often constructed from aluminum, which can contain up to 98% recycled material. Construction waste is reduced by metal ceilings, which are reclaimable after their use and have a long lifespan. In addition, perforated panels with acoustical backing can also improve indoor environmental quality with metal ceilings by reducing reverberation time and enhancing acoustics, both of which can reduce the cost of energy consumption.
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A sustainable ceiling may be constructed from recycled and recyclable materials, or from components that are environmentally friendly in the extraction, manufacture, and transportation process. In addition to being more sustainable, a durable ceiling does not have to be replaced as often as an inflexible ceiling. The mineral & fiberglass ceiling tiles are a great option since they are stable under low to high frequencies. Ceiling tiles manufactured from mineral fibers tend to have a lower noise reduction coefficient (NRC) and a higher ceiling attenuation classification (CAC). Ceiling tiles made of fiberglass will keep a room quieter than mineral fiber ones. In addition to being moisture-resistant and sagging-resistant, fiberglass panels offer low density.
“A growing concern for the environment is encouraging major construction companies to use sustainable ceiling tiles, offering manufacturers a chance to expand their product lines,” - says an analyst at FMI.
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The ceiling tile industry faces intense competition around the world. Their leading position in the highly competitive market will be maintained by offering a cost-effective and broader product line.
The key industry players are Armstrong World Industries, USG Corporation, Hunter Douglas, SAS International, Certain Teed, Rockfon LLC, Odenwald Faserplattenwerk GmbH, Knauf Georgia-Pacific LLC, Saint-Gobain Gyprac, Georgia-Pacific.
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Future Market Insights offers an unbiased analysis of the global ceiling tiles market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the ceiling tiles market, the market is segmented on the basis of product, applications, and region.
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) & Volume (Tons) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) & Volume (Tons) Projections, 2023 to 2033
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application
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The chemical & material team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 billion+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
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