Press Releases

Global Market for Ceiling Tiles to Reach $11.8 Billion by 2023

Niche and Fashion Tiles Driving Substantial Growth

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.”

Top competitors in the ceiling tile industry include Armstrong World Industries (AWI), Saint-Gobain (CODYY), and United States Gypsum (USG).

Report Highlights

  • Niche market analysis. Markets for select niche and specialty ceiling tile material categories will grow much faster than markets for conventional tile and are expected to reach $3.6 billion by 2023.
  • Market region analysis. While North America leads the global market for the tiles, Asian markets will see the most growth with a CAGR of 9.2% for the period of 2018-2023, compared to North America’s CAGR of 6.7%.
  • Market segment analysis. The increase of online stores around the world is affecting the global ceiling tile market in the retail space, as the retail commercial buildings segment carried the second-largest market share in 2017 and 2018, at $1.5 billion and $1.6 billion respectively, but is expected to see slower growth than other market segments.

“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.

Editors/reporters requesting analyst interviews should contact Eric Surber at press@bccresearch.com.

Global Markets for Ceiling Tiles( AVM166A )
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