Impact of Covid-19 Outbreak on Ceiling Tiles Market Share

01/giu/2020 09:02:14 Automotive Market Research Reports Contatta l'autore

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Market Research Future (MRFR) in their report on the ceiling tiles market predicted 8.2% CAGR during the forecast period (2017-2023) for the market. Ceiling tiles are lightweight components that are used in retail store, offices, buildings, and in other residential or non-residential areas.  The global ceiling tiles market is witnessing strong growth from all sectors as governments have introduced reforms in regulations that would ease the manufacturing process. The market in developing countries is enjoying the bliss of FDI influx that has simplified several steps of production and commercialization. Among the other major factors, Asia Pacific’s rise can impact the market considerably. The region is witnessing several affordable housing project plans where the opportunity to prosper increased exponentially for the ceiling tiles market. Market titans have recognized the region as a lucrative opportunity. Hence, the push for FDI in the region is going to help the regional market soar.

Segmentation:

MRFR in a bid to delve deep into the global ceiling tiles market segmented it by products, installation types and applications. This would ensure a better predictive analysis of the market for the upcoming years.

Based on the product, the ceiling tiles market can be segmented as mineral wool, metal, gypsum, wood and others. The mineral wool segment has the maximum market share. Eco-friendly gypsum construction has now become the trend owing to which the segment is getting significant traction and its market dominion is next only to mineral wool.

By installation type, the ceiling tiles market can be segmented into drop in, and glue up. Glue up segment mostly uses adhesives to deliver extraordinary finish.

Application-wise, the ceiling tiles market can be segmented as residential and non-residential. Non-residential segment has the maximum market share and is expected to boast off the highest CAGR during the forecast period. However, residential segments market contribution would be substantial as well during the forecast period.

Regional Analysis:

Geographically, MRFR segments the global ceiling tiles into four major regions of North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW). This would enable MRFR in providing a detailed discussion of the market and value-wise and volume-wise data for future generations.

As the reports of 2016, North America has the maximum market share. The region is witnessing a surge in housing projects with enhanced aesthetic demands due to which the ceiling tiles market can gain substantial traction. The U.S. is one stronghold in the region who are encouraging a lot of construction and renovation work. The investment in such sectors are growing higher which is directly expected to impact the ceiling tiles market. Both commercial and residential structures are witnessing substantial investment and the regional market can bank on such profits. At the same time, green buildings are claiming strong foothold where the ceiling tiles market can considerably proliferate.

Europe follows the suit of North America both in terms of revenue generation and features that can impact the market in the upcoming years. The region is witnessing a significant surge in the repair and rehabilitation of older constructions which can widen the horizon for the existing market.

The APAC market can expect the fastest CAGR during the forecast period as several countries from the region such as India, China, Japan, Thailand, and others are promoting the demand considerably. The regional market is benefitting from the increase in residential and commercial constructions owing to which the market can secure smooth passage towards profit.

Competitive Landscape:

Prominent players to impact the ceiling tiles market included in the MRFR report on the same are Knauf (Germany), Armstrong World Industries, Inc. (U.S.), Rockfon (U.S.), USG Corporation (U.S.), Saint Gobain S.A. (France), Grenzebach BSH GmbH (Germany), SAS International (U.K.), Odenwald Faserplattenwerk GmbH (Germany), Burgess CEP (U.K.)., Hunter Douglas (The Netherlands), VANS Gypsum Pvt Ltd (India), Decorative Ceiling Tiles, Inc. (U.S.), and The ReWall Company, LLC (U.S.).

In 2018, a turn of events saw EC approving the acquisition of the Armstrong’s ceiling business by Knauf. This step ensured Knauf’s growth as the provider of modular suspended ceilings in Europe.

Note: The COVID-19 pandemic disruption is estimated to transform the XX market in the years to come drastically, and its after-effects will be persistently seen in the years ahead. The MRFR report on the XX market meticulously tracks the COVID-19 pandemic effect for the years ahead. Moreover, the precise analysis of drivers and restraints in a post-COVID-19 market offers a coherent understanding of future growth cues.

 

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