March 05, 2019
WELLESLEY, Mass., March 05, 2019 –While the topic of ceiling tiles might not seem interesting, the global market is quite nuanced. Unsurprisingly, the market for traditional ceiling materials—off-white mineral wool and gypsum often used in commercial buildings—will continue to grow as building markets expand. The most substantial growth of the global market for ceiling tiles is expected to come from less traditional, niche categories, such as rustic wood, sleek metals, embossed and thermoformed patterns, 3-D molded plastics, and foams.
The global market for ceiling tiles was valued at roughly $8.4 billion in 2018 and is expected to reach approximately $11.8 billion in 2023 at a compound annual growth rate (CAGR) of 7.1%, according to a new report by BCC Research, “Global Markets for Ceiling Tiles.”
“These fast-growth [niche] categories represent desirable targets for new market entrants in the ceiling tile industry, or niche segments worth considering for expansion for manufacturers already invested in other industry segments,” says BCC Research analyst Robert Eckard, Ph.D.
The Complexity of the Ceiling Market, Briefly Explained
Why is the global market for ceiling tile is so complex? Because ceiling tile is used in almost every type of building. That means the market is subject not only to the markets of those buildings, i.e. commercial and residential markets, but also by end-user and consumer-driven trends, pressure from environmental groups, and population growth in developing nations.
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Global Markets for Ceiling Tiles( AVM166A )
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