Report Overview: The global mineral wool ceiling tiles market reached a value of around US$ 10.5 Billion in 2020. Looking forward, the market is expected to continue its moderate growth during the next five years., according to a new report by IMARC Group.
Also known as acoustic tiles, mineral wool ceiling tiles are made from a combination of glass, wool and slag fibers. They are thick, incombustible, economical, recyclable and resistant to the growth of mold, fungi and bacteria. As they offer high performance and low thermal conductivity, they are gaining traction in the residential, commercial and industrial sectors across the globe.
Global Mineral Wool Ceiling Tiles Market Trends:
The rising construction activities, especially in emerging economies, represent one of the key factors impelling the mineral wool ceiling tiles market growth. Additionally, the increasing renovation of existing homes and commercial spaces in developed countries is further driving the market growth.
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This can also be accredited to the high income levels and significant need for construction solutions that are durable, cost-effective and require low maintenance. Furthermore, the rising demand for decorative and soundproof interiors in offices, theatres, stores and laboratories is expected to strengthen the market growth in the coming years.
Note: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Performance of Key Regions
North America Europe Asia Pacific Others
Market by Application
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Some of the major players include:
- SAS International Ltd.
- USG Corporation
- Knauf Gips KG
- Odenwald Faserplattenwerk GmbH
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Also read: Ceramic Tiles Market Booming Worldwide with leading Players Mohawk Industries Inc. (NYSE: MHK), Siam Cement Group Public Company Limited (OTCMKTS: SCVPF), Grupo Lamosa, RAK Ceramics P.J.S.C, and Ceramica Carmelo For Ltda.