Ceiling Tiles Market to Reach US$51.3 bn by 2024 | Page 3

Ceiling Tiles Market
promising 10.2 % CAGR over the report ’ s forecast period , continuing to remain one of the key choice of the construction sector across developing and developing economies . In terms of geography , the market is expected to be driven by the vast rise in demand across North America . The regional market is expected to occupy a massive 31.8 % of the global ceiling tiles market by 2024 , chiefly owing to rising numbers of new construction projects in the region .
Rapid Pace of Industrialization and Urbanization to Catapult Demand
The market for ceiling tiles is expected to gain increased traction owing to rising demand from the construction sector across developing economies boasting industrialization and urbanization at a promising pace . The vast rise in investment aimed at the development of public infrastructure in countries such as India and China are expected to make the Asia Pacific ceiling tiles market a highly lucrative one in the next few years , acting as one of the primary forces driving the global market .
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The high level of thermal and acoustic insulation provided by ceiling tiles make them useful for lowcost construction projects . High recyclability quotient of several metal- and mineral-based ceiling tiles are making their use compelling for environmentally sustainable construction projects , persuading government bodies to ramp up efforts to raise awareness regarding their increased use .
Threat of Easily Available Substitutes to Hinder Uptake of Ceiling Tiles
The global ceiling tiles market is expected to witness stiff competition from easily available and relatively economical substitutes to ceiling tiles , such as mortar and asphalt . Additionally , the market is also expected to bear the brunt of fluctuating raw material prices , which have a severe impact on the overall final cost of cleaning tiles .
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Transparency Market Research
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