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Ceiling Tiles Market Analysis by Application (Residential, Non-Residential, and Industries); and by Product (Metal, Mineral Wood, and Gypsum) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • USG Corporation joined the Knauf group, the biggest producer of gypsum in the world. With the recent introduction of three exciting new products to the USG line of ceiling products—USG DanolineTM Perforated Gypsum Panels, USG HeradesignTM Wood Wool Panels, and USG Acoustic SFTM Accessible Reveal Ceiling Tile—the company is now better positioned to serve its customers with new products.

  • SAS International is actively advertising their Open Grid ceiling solutions, which is opening up a brand-new realm of imaginative ceiling design

Global Ceiling Tiles Market Size, Forecast, and Trend Highlights Over 2023 - 2033

Base Year

2022

Forecast Year

2023-2033

CAGR

~7%

Base Year Market Size (2022)

~ USD 9 Billion

Forecast Year Market Size (2033)

~ USD 12 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)

 

The global ceiling tiles market is estimated to garner a revenue of ~USD 12 Billion by the end of 2033 by growing at a CAGR of ~7% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 9 Billion in the year 2022. The growth of the market is primarily attributed to the major growth in construction industry, followed by the radically increasing consumer focus on aesthetics of office and home buildings. For instance, as of May 2022, India has the most infrastructure construction projects totaling more than USD 25 million in planning or operation.

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The growth in construction industry is boosted owing to the rise in large number of people shifting towards cities. Hence more infrastructure is estimated to be manufactured. According to an estimate, contractors are anticipated to build approximately 3,500 more building per day by 2050. Moreover, rising development of green construction is another major factor which is fueling up the growth of the market during the forecast period.

Global Ceiling Tiles Market: Growth Drivers and Challenges

Growth Drivers

  • Growing Urbanization – Presently, a huge count of people is residing in urban areas, and more people have been shifting towards the urban cities on account of getting better job opportunities, better education, as well as for obtaining better healthcare services. Thus, the ratio of urbanization has been increasing in a more dramatic way, which is leading the growth of the construction activities throughout the world. Such factor is fueling up the growth of the market over the forecast period. For instance, in 2018, 55% of the world's inhabitants lived in cities; by 2050, that number is projected to rise to 68%.

  • Rising Population - The population of the world is projected to rise by 2 billion people during the next 30 years, from 7.7 billion people today to 9.7 billion in 2050, with a potential peak of approximately 11 billion people around the year 2100.

  • Increasing Disposable Income - The disposable personal income in the US rose by about 1 percent in August 2022 compared to the same month the previous year.

  • Increasing Residential & Non-Residential Construction Activities – For instance, according to short-term projections, the non-residential building market in the United States is expected to expand by more than 5% in 2023.

  • Rise in Spending on Home Remodeling - About 50% of respondents to a study taken in 2020 stated that they had remodeled their homes, and the median amount spent on renovations by a household increased to more than USD 13,000 in 2020.

Challenges

  • High Cost of Ceiling Tiles - Ceiling tiles are only utilized in business settings owing to their exorbitant cost. Residential rooms rarely use ceiling tiles since doing so increases the overall cost of the building. Therefore, the high cost of ceiling tiles is a major obstacle to their expansion in residential buildings.

  • Environmental Factors

  • Lowering Installation Costs

The global ceiling tiles market is segmented and analyzed for demand and supply by application into residential, non-residential, and industries. Out of which, the non-residential segment is anticipated to garner the largest revenue by the end of 2033. The growth of the segment is attributed to growing non-residential construction activities in developed as well emerging economies such as, China, India, Brazil, and South Korea, along with the rapidly increasing urbanization. For instance, over 499 billion dollars were spent on new private non-residential buildings in the United States in 2019.

Global Ceiling Tiles Market Regional Synopsis

The Asia Pacific ceiling tiles market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033, backed by growing disposable income, along with the massive surge in construction activities in the region. For instance, Singapore's anticipated disposable income per capita within the ASEAN bloc would be roughly 29.9 thousand dollars. Additionally, escalation in population, and increasing economic development are some further factors which are driving the growth of the ceiling tiles market in the region.

Market Segmentation

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

      By Application

  • Residential
  • Non-Residential
  • Industries

       By Product

  • Metal
  • Mineral Wood
  • Gypsum

Top Featured Companies Dominating the Global Ceiling Tiles Market

  • USG Corporation

    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • Knauf Digital GmbH
  • Rockwool A/S
  • Odenwald Faserplattenwerk GmbH
  • Saint-Gobain Gyproc
  • SAS International
  • Byucksan
  • HIL Limited
  • Hunter Douglas
  • KET Ceilings

 

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