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CLEVELAND , Oct. 25, 2021 /PRNewswire/ -- Mineral fiber tiles are the most widely used ceiling product in the world, and the US and Russia are by far the most intensive users of these products, finds a new Freedonia Group analysis.
In both countries, there remains a strong preference for mineral fiber ceiling tiles over drywall, which is the dominant ceiling covering throughout the world. However, the quality of tiles installed varies significantly between the two countries:
South Korea Approaches Size of Russian Mineral Fiber Tile Market in Volume Terms
The US and Russia are projected to remain the market leaders in volume terms for mineral fiber tiles going forward, although South Korea is projected to reach demand levels in volume terms similar to those in Russia in 2025. However, South Korea will far surpass the Russian market in value terms due to the use of much higher quality tiles.
Global Ceiling Tile Market to Rise 4.4% Annually Through 2025
Global demand for ceiling tiles is forecast to reach $5.3 billion in 2025. While the market will continue to be restrained by the popularity of drywall and building plaster in residential applications in most regions – as well as in many nonresidential applications in developing countries – factors supporting market growth will include:
Global Ceiling Tiles analyzes global ceiling tile (i.e., ceiling panel) demand by product and market. Historical data are provided in US dollars and square meters for 2010, 2015, and 2020, and forecasts are presented for 2025 and 2030.
About the Freedonia Group - The Freedonia Group, a division of MarketResearch.com, is the premier international industrial research company, providing our clients with product analyses, market forecasts, industry trends, and market share information. From one-person consulting firms to global conglomerates, our analysts provide companies with unbiased, reliable industry market research and analysis to help them make important business decisions. With over 100 studies published annually, we support over 90% of the industrial Fortune 500 companies. Find off-the-shelf studies at https://www.freedoniagroup.com/ or contact us for custom research: +1 440.842.2400.
Press Contact: Corinne Gangloff +1 440.842.2400 [email protected]
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