Ceiling Tiles (Mineral Wool, Metal, Gypsum and Others) Market for Residential, Non-residential (Hospitality, Commercial, and Institutional); and Industrial Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023
Albany, NY -- (SBWIRE) -- 12/24/2015 -- The global ceiling tiles market consists of mineral wool, metal, and gypsum-based tiles as the primary product segments of the said market. Of these, in 2014, mineral wool ceiling tiles held more than 40% of the overall market for ceiling tiles by volume. The high usability of these tiles is due to their compatibility with different installation systems and surfaces, with high performance and quality with respect to fire safety, thermal insulation, and noise insulation being additional advantages of these tiles.
Gypsum ceiling tiles are widely used in the construction sector. The favorable physical properties of these tiles, such as high water vapor resistance, and economic benefits with respect to low cost and performance in a wide temperature spectrum are the reasons for the suitability of these tiles for mega-construction projects for both commercial and residential buildings. With eco-friendliness and biodegradability added to the virtues of gypsum ceiling tiles, these tiles are inevitably preferred over other types of ceiling tiles.
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Fire Prevention and Insulation Abilities Hold Promise for Ceiling Tiles Market
Ceiling tiles are majorly used in the construction sector. Due to the usability of ceiling tiles as secondary ceilings, they constitute an important element of any construction undertaking. Also known as ceiling panels, enhancement of acoustics and thermal insulation are the two primary purposes these tiles are used for. Sound-absorbing and lightweight ceiling tiles are used in the interior of buildings rested in an aluminum grid to obtain maximum value.
The capability of ceiling tiles to prevent the spread of fire in large buildings, thereby preventing significant damage and monetary loss, is also a major factor driving the ceiling tiles market. In the event of a fire, if ceiling tiles are either removed, displaces, or broken, smoke and hot gases from the fire can dissipate and accumulate above sprinklers and detectors.
Non-residential Building Construction Fuels Asia Pacific Ceiling Tiles Market
Residential, industrial, and non-residential (hospitality, institutional, commercial) are the major application segments of the ceiling tiles market. By volume, in 2014, the non-residential segment held more than 65% of the global market for ceiling tiles. Economic development in Asia Pacific and Latin America leading to rapid non-residential construction undertakings is bolstering the growth of the global ceiling tiles market. In Africa and the Middle East, newly constructed residential buildings and shopping malls are utilizing ceiling panels for fire protection and insulation purposes.
The key regional markets for ceiling tiles are North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. Among all, in 2014, North America accounted for more than 30% of the total volume of the global ceiling tiles market and stood as the largest market. In the region, the U.S. is the largest market for construction and accounts for substantial demand for various types of ceiling tiles for both residential and non-residential buildings. In the future years as well, North America will be an important market for ceiling tiles.
The ceiling tiles market is highly fragmented due to the presence of numerous medium-sized and large-sized companies operating in the market. Armstrong World Industries Inc., Odenwald Faserplattenwerk GmbH, Saint-Gobain S.A., USG Corporation, Grenzebach BSH GmbH ROCKFON, Knauf, and SAS International are some of the leading companies in the ceiling tiles market.
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