Generally constructed from a mix of mineral fibers with antimicrobial and fireproof properties, ceiling tiles play an integral role in noise reduction, preventing the spread of fire, and finishing the look of various structures & facilities. Moreover, in terms of aesthetics, these tiles can help conceal unsightly wiring, rust, pipes, and other unappealing ceiling components. As per Inkwood Research’s analysis, the global ceiling tiles market is projected to grow with a CAGR of 7.26% over the forecasting period of 2023 to 2032, capturing a revenue share of $xx billion by 2032.
Europe’s Commanding Presence in the Global Ceiling Tiles Market
Over the years, ceiling tiles have carved a niche for themselves in the European market. In Western Europe, the United Kingdom is projected to be one of the leading markets for ceiling tiles by 2025, supported by a strong ricochet in non-residential construction expenditure. In addition, given the nation’s significant industrial construction demand, coupled with the inclination towards contemporary, modular designs, ceiling tiles are widely adopted in the country.
In contrast, economic uncertainty due to inflation, as well as increasing energy and commodity prices, predominantly given Russia’s invasion of Ukraine, has resulted in delays and cancellations across the European construction industry. These factors, in turn, may likely hamper structural demands and exacerbate cost inflation for construction-related goods, as well.
However, reports state that despite the United Kingdom experiencing a severe economic recession in 2023, an additional 225,000 construction workers could be required by 2027, with recruitment mainly concentrated on infrastructure, repair, private housing, and maintenance. (Source: Construction Skills Network [CSN])
Furthermore, with the growing awareness about the environmental impact of urbanization, there has been a subsequent increase in the demand for sustainable ceiling tiles made from renewable materials. For instance, modular construction is projected to become the norm in the region by 2023. This is attributed to its potential to reduce construction time by around 50%, minimize waste, and increase productivity as well as sustainability. Similarly, low-emitting sustainable ceiling tiles can help improve indoor air quality and occupant health by releasing fewer volatile organic compounds (VOCs) into the atmosphere.
Besides, traditional construction companies and investors are also preferring off-site solutions, owing to the advantages they offer and how they revolutionize sustainable business models. According to the estimates issued by the European Steel Association (EUROFER), construction output in the European Union (EU) was estimated to increase by 2.3% in 2022, year-on-year, and 2023 will likely witness a growth of around 1.5%. Hence, these factors are expected to influence the ceiling tiles market growth in Europe during the forecast period.
A Skyward Revolution – Key Trends & Strategic Initiatives
The two emerging trends for 2023, predominantly in Europe, include the transition towards modern construction techniques and the focus away from conventional, on-site skilled labor to off-site, automated modular structures. Hence, the rising adoption of cutting-edge lean manufacturing techniques in the region and the growing infrastructural investments are anticipated to boost the demand for modular construction materials, including ceiling tiles.
Additionally, as the advantages of incorporating modular construction continue to remain concrete, industry professionals are increasingly focusing on more government support. These include planning and regulation policy incentives, along with grants and subsidies for developers employing modular solutions. For instance, the European Union launched NextGenerationEU, recognized as the largest stimulus package ever financed in Europe. The recovery plan aims to achieve targets linked to climate neutrality, digitization, and sustainability, directed toward a more robust construction industry.
The support is also projected to accelerate the adoption of modern and sustainable solutions, such as ceiling tiles, while leading to higher market expansion of currently available as well as novel solutions. For example, in January 2021, Saint-Gobain (France) launched its first production site for ceiling tiles in India with the goal of reducing Indian imports of ceiling tiles from China. With an annual capacity of 6 million square meters, the plant is set to serve the gypsum tiles market in India. Hence, these factors are set to collectively contribute to the global ceiling tiles market growth during the forecasted period.
FAQs:
1. What are ceiling tiles made of?
A: Ceiling tiles are mainly made of fiberglass, mineral wool, gypsum, cellulose or starch, perlite, and clay. Moreover, glass, metal, and wood are also gaining popularity as specialty materials in the production of ceiling tiles.
2. Why are ceiling tiles being increasingly incorporated into commercial buildings?
A: In order to enhance acoustics, lessen noise pollution, and improve the efficacy of heating and cooling systems, ceiling tiles are being largely utilized in commercial buildings, such as offices. Moreover, as per Inkwood Research, office is expected to be the prominent commercial building during the forecast period, 2023 to 2032.
