51% of construction firms who participated in a study conducted by McGraw-Hill Construction in partnership with the World Green Building Council said that by the end of 2015, they planned to undertake at least 60% green building projects. This suggests that the green building movement is gaining a foothold the world over. What’s also interesting to note is that this trend is not limited to a handful of developed regions. In fact, the trend is far from being localized because governments worldwide have put environmentally-detrimental construction practices under the scanner.
The growth and expansion of the green buildings market means that several ancillary industries will benefit greatly, with the ceiling tiles market being one of them. The ceiling tiles market, according to a report published by Transparency Market Research, had a valuation of US$19.19 bn as of 2014. TMR’s analysts expect this market to have a 9.10% CAGR and reach US$42.04 bn by 2023.
Ceiling tiles made for use in green buildings will see an uptick in demand because the green buildings industry itself is witnessing aggressive growth. Besides their structural and aesthetic benefits, ceiling tiles are also now becoming imperative to furthering the green building trend.
The growth and expansion of the green buildings market means that several ancillary industries will benefit greatly, with the ceiling tiles market being one of them. The ceiling tiles market, according to a report published by Transparency Market Research, had a valuation of US$19.19 bn as of 2014. TMR’s analysts expect this market to have a 9.10% CAGR and reach US$42.04 bn by 2023.
Ceiling tiles made for use in green buildings will see an uptick in demand because the green buildings industry itself is witnessing aggressive growth. Besides their structural and aesthetic benefits, ceiling tiles are also now becoming imperative to furthering the green building trend.
Eco-friendly Ceiling Tiles that Seamlessly Fit into Green Buildings are Garnering Interest
Currently, the market has numerous environment-friendly ceiling tiles on offer. Many of these tiles are made using pre- or post-consumer recycled materials and are high on the sustainability quotient, allowing manufacturers of such tiles to place their products on the market at a premium. Ceiling tiles from ArmStrong, for instance, are reportedly among the first commercially-available ones to feature the Cradle-to-Cradle mark on their Tierra ceiling tiles line.
Armstrong World Industries, Inc. has collaborated with Masonite International Corporation to develop a range of products specifically for green building projects. More such products are making their way to the market, and are increasingly replacing conventional ceiling tiles that do not boast the same degree of eco-friendliness.
Snapshot of Trends Shaping the Ceiling Tiles Market Worldwide
Mineral wool tiles were the global leader in volume. About 40% of all ceiling tiles sold worldwide in 2014 were made of mineral wool, says Transparency Market Research.
65% of all ceiling tiles sold worldwide in 2014 were used in non-residential applications. The construction of shopping malls, industrial parks, and commerce zones in emerging economies has proven conducive to the demand for ceiling tiles in non-residential applications.
Browse Press Release: http://www.transparencymarketresearch.com/pressrelease/ceiling-tiles-market.htm
North America represented the single-largest regional market by volume for ceiling tiles in 2014. Because of the need for tiles that can provide effective thermal insulation, most consumers in North America go for mineral wool ceiling tiles here. The demand for ceiling tiles will continue to remain strong in North America, especially in the United States where the construction industry’s future looks bright.
With growth projections for the ceiling tiles market looking positive, several companies are expected to collaborate to present innovative products. Ceiling tiles that can help consumers save costs, energy, and blend with the interior designer’s aesthetic concepts will stand a better chance of competing in what is fast becoming a very dynamic market.
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