According to a recent market research report published by Transparency Market Research, the global ceiling tiles market is projected to expand at a CAGR of 9.10% during the period from 2015 to 2023. The report, titled “Ceiling Tiles Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023,” anticipates the global ceiling tiles market to be worth US$42 bn by 2023. The overall market was worth US$19.2 bn in 2014.

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Ceiling tiles refer to secondary ceiling materials suspended below an existing ceiling. Gypsum, mineral fiber, and metal are widely used in the production of ceiling tiles. While wet tiles are manufactured using recycled paper, perlite, and mineral wool, gypsum tiles are manufactured from soft minerals. The report points out that the rapid growth of the construction sector has propelled the demand for ceiling tiles. The financial and environmental benefits associated with the waste management of ceiling tiles will also augment the growth of the global ceiling tiles market. However, fluctuating prices of raw materials and energy sources will hamper the growth of the market during the forecast horizon. Increasing usage of ceiling tiles in green buildings will create new growth opportunities for the market in the near future. The report further assesses the impact of Porter’s five forces on the growth of the market.

In terms of product types, the report segments the global ceilings market into metal ceiling tiles, mineral wool ceiling tiles, gypsum ceiling tiles, and others. During the forecast horizon, mineral wool is expected to be the largest segment of the market in terms of volume. Mineral wool ceiling tiles display high fiber tensile strength and readily absorb odors or moisture. Hence, these ceiling tiles are used in various commercial buildings such as hospitals, offices, and retail stores. The mineral wool segment held more than 40% of the market in 2014. Gypsum emerged as the second largest segment of the market in the same year and is expected to witness high demand during the forecast period.

On the basis of application, the global ceiling tiles market has been categorized into residential, non-residential, and industrial. The non-residential segment accounted for over 65% of the market in 2014 and is anticipated to drive the demand from the market during the forecast horizon. The industrial segment was the second largest segment of the market in 2014.

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The report studies the ceiling tiles market across five key regions: Latin America, Asia Pacific, the Middle East and Africa, North America, and Europe. In terms of volume, North America was the largest market for ceiling tiles in 2014. However, during the forecast period, Asia Pacific is anticipated to be the fastest growing region in the market owing to the growing demand for ceiling tiles across non-residential applications in emerging economies. The market in the Middle East and Africa is also expected to grow significantly in the coming years.

Describing the competitive landscape, the report profiles some of the key players in the global ceiling tiles market such as SAS International, Armstrong World Industries Inc., ROCKFON, Techno Ceiling Products, Grenzebach BSH GmbH, Saint-Gobain S.A., USG Corporation, Odenwald Faserplattenwerk GmbH, New Ceiling Tiles LLC, and Knauf.

Global Ceiling Tiles Market has been segmented as:

Ceiling Tiles Market – Product Segment Analysis
Mineral Wool
Metal
Gypsum
Others (Wood, Plastic, etc.)

Ceiling Tiles Market – Application Analysis
Residential
Non-residential
Hospitality (Restaurants, Hotels, etc.)
Commercial (Offices, Shopping Plazas, etc.)
Institutional (Hospital, Educational Institutes, etc.)
Industrial (Factories, Warehouses, etc.)

Ceiling Tiles Market – Regional Analysis
North America
Europe
Asia Pacific
Latin America
Middle East & Africa

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