Ceiling Tiles Market Research Report and Forecast up to 2024 Ceiling Tiles Market

Ceiling Tiles Market - Global Industry Analysis,
Size, Share, Growth, Trends, and Forecast 2016
- 2024
Recyclability of Ceiling Tiles to Fuel Adoption in Construction Industry
Ceiling tiles are predominantly being used for improving the acoustics of a building
and enhancing its thermal insulation. The demand for these panels or tiles has been
soaring as they offer excellent sound absorption qualities and are known to be
lightweight construction materials. The market for ceiling tiles is expected to
witness an upsurge in the coming years as the raw materials used for
manufacturing them can be completely recycled. This factor has been identified as
a key market driver in a time when the world is looking at sustainable materials to
reduce the carbon footprint. According to the research report by Transparency
Market Research, the global ceiling tiles market was valued at US$21.6 bn in 2015
and is projected to reach a valuation of US$51.3 bn by the end of 2024. During the
forecast years of 2016 and 2024, the global market is expected to expand at a
CAGR of 10.1%.
View Report @ http://www.transparencymarketresearch.com/ceiling-tiles-
market.html
Affordability Wins Ceiling Tiles Newer Markets
Ceiling tiles are an integral part of the construction industry, which is growing at a
relentless pace all across the world. The demand for various types of ceiling tiles is
projected to continue in the coming years due to growing number residential and
commercial projects. The industrial sector is also showing promise of growth as
economies are strengthening. The demand for construction of residential projects is
remarkably high due to the improving GDPs, rising disposable incomes, changing
standard of living, demand for better structural reliability, and better aesthetic
design. Builders have also been increasing the adoption of ceiling tiles in their
projects due to their affordable pricing and effective usage. Ceiling tiles have played
a crucial role in shaping the market for affordable homes. Owing to these reasons
developing countries are poised to witness a significant demand for low-cost ceiling
tiles in the near future. Ceiling tiles are extensively being used in offices, hotels,
transportation terminals, retail stores, hospitals as suspension, building perimeter,
and drywall grid systems.
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