Market Size in 2023 | Market Forecast in 2032 | CAGR (in %) | Base Year |
---|---|---|---|
USD 7.8 Billion | USD 12.4 Billion | 5.3% | 2023 |
The global acoustic ceiling tiles market size was worth around USD 7.8 billion in 2023 and is predicted to grow to around USD 12.4 billion by 2032, with a compound annual growth rate (CAGR) of roughly 5.3% between 2024 and 2032.
Acoustic ceiling tiles may absorb sound energy that strikes their surface since they are composed of specialized materials. As a result, there is less sound transfer to the void or floor above and less reverberation, sometimes referred to as echo. Ceiling Attenuation Class (CAC) and Noise Reduction Coefficient (NRC) are typically used to rate tile performance.
Better acoustic performance is associated with better NRC and CAC ratings. To better grasp this, picture a movie theater with an apartment above it. In addition to avoiding sound from passing through the suspended ceiling and eventually reaching the apartment above, the movie theater itself would like the sound in the space to be distinct and echo-free.
Increasing construction industry drives market growth.
Strong infrastructure initiatives and global urbanization are driving the growth of the construction sector, which in turn is driving acoustic ceiling tiles market expansion.
According to Worldmetrics, ceiling tile exports were worth US$ 872 million worldwide in 2020. The Bipartisan Infrastructure Law (BIL), often referred to as the Infrastructure Investment and Jobs Act (IIJA), was signed into law by President Biden on November 15, 2021, and is another illustration of the substantial government investment in infrastructure. Of the $1.2 trillion, $550 billion was set aside under the Act for infrastructure and transportation expenses, with the rest sums going toward new projects and activities. Building materials, particularly ceiling tiles, are becoming more and more necessary as construction activity rises.
Additionally, the market is expanding because these tiles are necessary for the functional and decorative elements of contemporary buildings. The increased infrastructure spending from new construction and remodeling projects is contributing to the current surge in demand for ceiling tiles.
Economic fluctuation hinders market growth
The state of the economy is one of the variables influencing changes in the market for acoustic ceiling tiles; that is, economic issues like recessions result in lower spending on building and remodeling, which lowers the demand for tiles. Financial market fluctuations may also have an impact on investment and budgets for residential and commercial buildings, which would lower demand for the products. Thus, economic fluctuation is expected in the acoustic ceiling tiles industry over the forecast period.
Rising population and urbanization offer a lucrative opportunity for market growth
Globally, there will be 6.7 billion urban dwellers by 2050, up from 4.2 billion in 2018, according to World Resources Institute projections.
Furthermore, a growing number of new structures are needed to accommodate the expanding population. In addition, as cities expand and new urban centers are developed, there is a greater demand for building supplies like ceiling tiles. The US ceiling tile industry was valued at $1.3 billion in 2020, according to Worldmetrics.
Additionally, because they provide choices for sound absorption, thermal insulation, and aesthetic enhancement, ceiling tiles are essential to contemporary construction and drive acoustic ceiling tiles market expansion.
Furthermore, the expansion of metropolitan regions with their high-rise buildings and business complexes is the reason for the growing demand for innovative and durable ceiling tiles that meet both practical and legal standards. Therefore, the rising urban landscape and the growing population create a favorable prognosis for the market.
High initial cost poses a major challenge to market expansion
The high initial cost of acoustic ceiling tiles is a significant barrier to their adoption, especially for small businesses and consumers on a limited budget. High-performance acoustic ceiling tiles are made from fiberglass, mineral fiber, or eco-friendly composites; however, the cost of manufacture is increased by the need for complex manufacturing processes.
Specialized coatings resistant to fire, moisture, and germs raise the price even further. The cost and complexity of manufacturing are additionally increased by custom patterns, colors, and designs that adhere to current architectural trends. Integration with smart lighting, HVAC, or acoustics raises costs even more. Therefore, the high initial cost poses a major challenge for the acoustic ceiling tiles market over the projected period.
Report Attributes | Report Details |
---|---|
Report Name | Acoustic Ceiling Tiles Market |
Market Size in 2023 | USD 7.8 Billion |
Market Forecast in 2032 | USD 12.4 Billion |
Growth Rate | CAGR of 5.3% |
Number of Pages | 223 |
Key Companies Covered | Armstrong World Industries Inc., USG Corporation, Knauf Gips KG, Rockwool International A/S, Odenwald Faserplattenwerk GmbH, Saint-Gobain S.A., Hunter Douglas Inc., AWI Licensing LLC, Saint-Gobain Gyproc, SAS International, BYUCKSAN, HIL Limited, KET Ceilings, Burgess CEP, Ecophon, and others. |
Segments Covered | By Type, By Application, By End User, and By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
Base Year | 2023 |
Historical Year | 2018 to 2022 |
Forecast Year | 2024 - 2032 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
The global acoustic ceiling tiles industry is segmented based on type, application, end-user, and region.
Based on type, the global acoustic ceiling tiles market is bifurcated into mineral wool ceiling tiles, metal ceiling tiles, gypsum ceiling tiles, wood ceiling tiles, and others. The mineral wool ceiling tiles segment is expected to hold the largest market share over the forecast period. This growth is attributed to the material's superior sound absorption, thermal insulation, and fire-resistant properties, making it a preferred choice in various construction projects.
Based on the application, the global acoustic ceiling tiles industry is bifurcated into commercial buildings, educational institutions, healthcare facilities, industrial settings, and others. The commercial buildings segment is expected to dominate the market expansion over the projected period. The growing need for acoustic comfort and noise reduction in commercial settings like workplaces, retail establishments, and hospitality venues is the main driver of this expansion. The use of acoustic ceiling tiles in commercial buildings is anticipated to increase as companies prioritize customer satisfaction and employee well-being.
Based on the end-user, the global acoustic ceiling tiles market is segmented into architects and interior designers, building contractors, facility managers, and others. The architects and interior designers segment is expected to capture a significant market share during the projected period. To improve indoor environmental quality and manage noise, architects and interior designers are increasingly using acoustic ceiling tiles in their designs. These tiles are a popular option in contemporary designs because they provide superior sound attenuation qualities and enhance the overall visual attractiveness of areas.
North America dominates the market over the projected period
North America is expected to dominate the global acoustic ceiling tiles market during the forecast period. The region's growing use of ceiling tiles is mostly due to technological advancements in this field as well as the necessity for acoustic insulation. High consumer disposable income, shifting consumer preferences, and an increase in options for both attractive and soundproof interiors in business buildings are other contributing factors to the growth. One of the key factors propelling the industry's growth throughout the projection period is the expansion of residential housing, specifically single-family dwellings. Therefore driving the market growth in the area.
The global acoustic ceiling tiles market is dominated by players like:
The global acoustic ceiling tiles market is segmented as follows:
By Type
By Application
By End User
By Region
FrequentlyAsked Questions
Acoustic ceiling tiles may absorb sound energy that strikes their surface since they are composed of specialized materials. As a result, there is less sound transfer to the void or floor above and less reverberation, sometimes referred to as echo.
The acoustic ceiling tiles market is influenced by several factors, such as the rising urban population, growing construction sector, technological advancements, rising collaboration, and many others.
According to the report, the global acoustic ceiling tiles market size was worth around USD 7.8 billion in 2023 and is predicted to grow to around USD 12.4 billion by 2032.
The global acoustic ceiling tiles market is expected to grow at a CAGR of 5.3% during the forecast period.
The global acoustic ceiling tiles market growth is expected to be driven by North America. It is currently the world’s highest revenue-generating market due to the presence of major players and technological advancements.
The global acoustic ceiling tiles market is dominated by players like Armstrong World Industries Inc., USG Corporation, Knauf Gips KG, Rockwool International A/S, Odenwald Faserplattenwerk GmbH, Saint-Gobain S.A., Hunter Douglas Inc., AWI Licensing LLC, Saint-Gobain Gyproc, SAS International, BYUCKSAN, HIL Limited, KET Ceilings, Burgess CEP, and Ecophon among others.
The acoustic ceiling tiles market report covers the geographical market along with a comprehensive competitive landscape analysis. It also includes cash flow analysis, profit ratio analysis, market basket analysis, market attractiveness analysis, sentiment analysis, PESTLE analysis, trend analysis, SWOT analysis, trade area analysis, demand & supply analysis, Porter’s five forces analysis, and value chain analysis.
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