Albany, NY -- (SBWIRE) -- 05/09/2018 -- Demand for ceiling tiles is high across the globe. Ceiling tiles are primarily used in interiors to improve aesthetics and acoustic insulation of an area. Mineral wool ceiling tiles are fire resistant, soundproof, easy to install, and highly durable, which makes them highly popular. Rise in demand for mineral wool ceiling tiles in the construction and infrastructure industries, primarily in developing countries, is likely to propel the mineral wool ceiling tiles market during the forecast period. Mineral wool ceiling tiles possess qualities such as sound absorption and thermal insulation, which makes them ideal for use in the construction industry. This is anticipated to further augment the mineral wool ceiling tiles market during the forecast period. Furthermore, mineral wool ceiling tiles are environmentally friendly and have a low carbon impact in the processing of raw materials, which is estimated to fuel demand for them. However, mineral wool ceiling tiles can cause adverse health effects during the installation process. This is projected to hamper the mineral wool ceiling market in the near future.
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In terms of application, the mineral wool ceiling tiles market can be split into commercial buildings, residential buildings, industrial, and others. The commercial buildings segment is anticipated to account for a significant share of the mineral wool ceiling tiles market in the near future owing to the rise in demand for these tiles in corporate offices, health care centers, retail & grocery stores, and educational institutions. Mineral wool ceiling tiles offer long-lasting appearance; low maintenance; and high durability in high-traffic areas such as airports, hotels, schools, and shopping malls. These properties are estimated to boost demand for mineral wool ceiling tiles during the forecast period. Mineral wool ceiling tiles are also widely employed in residential buildings owing to their high protective nature against extreme climatic conditions and variety of design options.
Based on region, the mineral wool ceiling tiles market can be classified into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America and Europe are anticipated to be major regions of the mineral wool ceiling tiles market led by expansion in the construction industry. Asia Pacific is expected to be an emerging region of the mineral wool ceiling tiles market during the forecast period as the construction and infrastructure industries are gaining momentum in China and India. Latin America and Middle East & Africa are also likely to account for significant share of the mineral wool ceiling tiles market owing to the increase in demand for mineral wool ceiling tiles in residential and industrial applications in these regions. Rise in construction activities for developing smart cities and increase in government initiatives in emerging economies are also projected to propel the demand for mineral wool ceiling tiles during the forecast period.
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Companies have started investing in innovation and development of mineral wool ceiling tiles due to rise in demand for the product. Prominent players operating in the mineral wool ceiling tiles market include Odenwald Faserplattenwerk GmbH, SAS International, COMO Building Products, Armstrong World Industries, Inc., Minwool Rock Fibres Limited, HIL Limited, ROCKWOOL International A/S, Renhurst Ceilings Pty Ltd, and Knauf.
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