Tin ceiling tiles, even though they are expensive, have paved their way into the commercial sector wherein the property owners strive for a greener architecture in order to improve energy efficiency.
Heavily adopted by corporate offices and malls, the ceiling tiles market is proving to be a lucrative business in the contemporary real estate industry.
As of 2018, the ceiling tiles market size was gauged at $5.1 billion, and it is poised to increment at a healthy CAGR of 9.1% during the forecast period 2019-2025.
North America Dominated the Ceiling Tiles Market in 2018:The growth of the ceiling tiles market can be largely attributable to the growth of the real estate sector worldwide, especially in developing countries such as China and India wherein the emerging housing requirement is catapulting construction activities.
However, North America was positioned as the maximum ceiling tiles market share bearer in 2018 with 33% in global revenues.While the greater share is because of the increasing real estate and reconstruction projects in the residential sector of the US, Mexico, and Canada, the big pocket customers from the commercial sectors offered lucrative opportunities to the players.
Rockfon (Rockwool Group) identified the possibilities for revenue sources in the North America ceiling tiles market in 2017 begun the production in its regional production facility in July 2017, which significantly uplifted the region’s ceiling tiles market share in 2018.The Most Gainful Ceiling Tiles Marketplace Non-Residential Buildings:The application ceiling tiles in non-residential buildings will increase at a CAGR of 6.58% through to 2025.
