Opportunities for the global mineral fiber ceiling market to reach $4.3 billion
According to a new market report published by Lucintel, the future of the global mineral fiber ceiling market looks good.Irving, United States, February 27,2018/Free-Press-Release.com/ -- According to a new market report published by Lucintel, the future of the global mineral fiber ceiling market looks good with opportunities in the residential and commercial construction industry. The global mineral fiber ceiling market is expected to reach an estimated $4.3 billion by 2021 and it is forecast to grow at a CAGR of 3.9% from 2016 to 2021. The major drivers of growth for this market are an increase in renovation activities, growth of commercial construction, and demand for ceiling products with high performance features such as being lightweight and having acoustic properties and excellent light reflection.
In this market, commercial renovation, commercial new, and residential are the segments by end use. On the basis of its comprehensive research, Lucintel forecasts that mineral fiber ceiling in new commercial building is expected to show above average growth during the forecast period of 2016 to 2021 due to higher rate of new commercial construction activity and economic growth in emerging economies like China and India.
Within the global mineral fiber ceiling market, commercial renovation is expected to remain the largest segment during the forecast period as increasing renovation activities are the major driving forces that spur growth for this segment over the forecast period.
Mineral fiber ceiling tiles are used as panels in suspended ceiling systems in non-residential buildings like offices, retail, education, healthcare facilities and more. Mineral fiber ceiling tiles are available in a number of decorative finishes but are pre-dominantly white in most applications.
North America is expected to remain the largest market due to the increasing rate of commercial renovation and remodeling along with growth in residential and commercial construction activities.
Asia Pacific and North America are expected to witness good growth over the forecast period; this growth will largely be driven by higher rate of commercial construction in emerging economies like China and India and increasing renovation activities.
For business expansion, Lucintel’s report suggests innovation and new product development, particularly in terms of energy-efficiency, high performance sound absorption, fire safety features, and using recycled raw materials to make mineral fiber ceilings more efficient and cost effective.
Emerging trends, which have a direct impact on the dynamics of the market, include the increasing usage of printed mineral fiber ceiling tiles, increasing usage of antimicrobial agents in mineral fiber ceiling tiles, and increasing usage of recycled content in the manufacturing of mineral fiber ceiling tiles. Armstrong World Industries, USG Corporation, Knauf, OWA, and Saint Gobain are the major manufacturers of the global mineral fiber ceiling market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global mineral fiber ceiling market by end use, application type, profile type, color type, suspension system type, and region and has compiled a comprehensive research report entitled “Growth Opportunities in the Global Mineral Fiber Ceiling Market 2016-2021: Trends, Forecast, and Opportunity Analysis.” This Lucintel report serves as a springboard for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the growth opportunities in the global mineral fiber ceiling market by end use, application type, profile type, color type, suspension type, and region, as follows:
By End Use [Volume (M sqm) and Value ($ million) from 2010 to 2021]:
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Commercial renovation
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Commercial new
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Residential
By Application [Volume (M sqm) and Value ($ million) from 2010 to 2021]:
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Office
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Retail
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Education
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Healthcare
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Others
By Profile type [Value $ million]
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T-Bar
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Others
By Color type [Value $ million]
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White
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Others
By Suspension system type [Value $ million]
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Exposed
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Concealed
By Region [Value $ billion from 2010 to 2021]:
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North America
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Europe
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Asia Pacific
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Rest of the World
This 184-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or [email]helpdesk@lucintel.com[/email]. Lucintel offerings include Construction Market Report, Construction Reports, Industry / Market Analysis, Strategic Growth Consulting and Capital Investment Analysis.
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