The new report by Expert Market Research titled, ‘Global Mineral Wool Ceiling Tiles Market Growth, Price, Trends, Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis of the global mineral wool ceiling tiles market, assessing the market based on its segments like applications and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Value (2020): USD 9.9 Billion
• Forecast CAGR (2023-2028): 5.0%
Mineral wool ceiling tiles are elegant, resilient, washable, and waterproof. Hence, the product is witnessing a significant demand from the commercial construction sector. Meanwhile, the recyclable, and anti-fungal and anti-bacterial properties of these tiles make them ideal for food preparation and healthcare areas, which is further adding to the market growth.
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In addition to this, the sophistication and cultural designs offered by the tiles are likely to propel the popularity of the products in the forecast period. In terms of region, Asia Pacific accounts for a significant share in the market owing to the strong foothold of building contractors and home décor companies.
Industry Definition and Major Segments
Mineral wool ceiling tile is defined as the principal ceiling type which is used in offices, schools, and hospitals, among others. Mineral wool fibre is the chief raw material used in the mineral wool ceiling tile. These tiles are used in the interiors to increase the aesthetic appeal as well as to absorb sound in a structure.
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Based on application, the market can be bifurcated into:
• Non- Residential
The regional markets for mineral wool ceiling tile include:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
The increasing investments in the construction industry in the emerging economies owing to the rapid urbanisation, increasing standards of living, and growing efforts by the government to accelerate the development of infrastructure are anticipated to be the crucial trends in the market. Meanwhile, the eco-friendly properties of the tiles are likely to increase their application in the green buildings.
The increasing availability of mineral wool ceiling tiles on the online platforms are likely to bolster the supply chain of the product in the forecast period and is likely to be another key trend in the market. Furthermore, the increasing footfall of population in hotels, restaurants, gyms, and museums, etc., is likely to propel the demand for mineral wool ceiling tile in the forecast period.
Key Market Players
The major players in the market are CertainTeed, Armstrong Ceiling Solutions, Rockfon (ROCKWOOL International A/S), and Renhurst Ceilings Pty Ltd., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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