Ceiling Tiles Industry worth $11.7 billion by 2027 - At a CAGR of 6.8%

Developed economies across the globe are targeting for long-term investments in the building & construction industry. This, in turn, is expected to increase the number of construction projects, thereby providing a positive outlook for the ceiling tiles market. There is also an increase in spending on national construction & infrastructure and real estate investment across the globe. Increasing urbanization and national commitments to conserve resources and reduce greenhouse gas emissions, which are expected to drive the ceiling tiles market during the forecast period. Increased spending on infrastructure projects is also contributing to the growth of the ceiling tiles market. The ceiling tiles market is projected to reach USD 11.7 billion by 2027, at a CAGR of 6.8% between 2022 and 2027.

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The ceiling tiles market in the Asia Pacific region is projected to grow at the highest CAGR during the forecast period, in terms of value and volume. The growth of the Asia Pacific ceiling tiles market can be attributed to the increased demand for ceiling tiles from the building & construction industry in this region.  Asia Pacific is leading the construction market due to the burgeoning growth of residential, commercial, industrial, and civil engineering projects in countries such as China and India. The construction industry in ASEAN countries is expected to project phenomenal growth as compared to the rest of the world.

Based on material type, the mineral fiber segment of the ceiling tiles market is projected to be the largest segment during the forecast period, in terms of value and volume. This growth can be attributed to the increased demand for mineral fiber ceiling tiles in non-residential buildings, such as offices, institutes, and hospitals. Mineral fiber ceiling tiles have high noise reduction coefficient, which helps enhance their acoustic property by absorbing sound or preventing echo. Thus, properties of mineral fiber ceiling tiles such as improved sound absorption capability and recyclability have contributed to the increased use of mineral fiber ceiling tiles in green building constructions. 

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Based on property type, the acoustic segment of the ceiling tiles market is projected to grow at the highest CAGR during the forecast period, in terms of value and volume. The growth of the acoustic segment can be attributed to the increased use of ceiling tiles with sound absorbing and sound blocking capabilities in various non-residential buildings, such as auditoriums, offices, institutes, hospitals, and cinema theaters.

Based on end user, the non-residential segment of the ceiling tiles market is projected to grow at the highest CAGR between 2022 and 2027, in terms of value or volume. Properties of ceiling tiles such as moisture absorption and fire resistance make them an ideal material for use in non-residential buildings. As ceiling tiles are good absorbers and attenuator of sound, they are widely used in offices, museums, hospitals, and institutions, where sound absorption and aesthetic appeal is a priority.