According to the recent study the Mineral Fiber Ceiling Market is projected to reach an estimated $7.8 billion by 2030 from $5.7 billion in 2023, at a CAGR of 4.5% from 2024 to 2030. Growth in this market is primarily driven by increasing renovation activities of existing residential, commercial spaces, and construction of new facilities due to improving economic conditions.
A more than 150 – page report is developed to understand Trends, opportunities and forecast in mineral fiber ceiling market by application (office, retail, education, healthcare, and others), material (wet felt mineral fibers, stone wool mineral fibers, and glass wool mineral fibers), end use (commercial renovation, new commercial, and residential), profile type (T-Bar and other profiles), color type (white and other colors) and region (North America, Europe, Asia Pacific, and the Rest of the World).
“Wet felt market is expected to remain the largest segment during the forecast period.”
Based on material, the mineral fiber ceiling market is segmented into wet felt mineral fibers, stone wool mineral fibers, and glass wool mineral fibers. Lucintel forecasts that the wet felt market is expected to remain the largest segment due to its efficient thermal insulation and sound absorption properties.
“Within the mineral fiber ceiling market, the commercial renovation segment is expected to remain the largest end use”
Based on end use the commercial renovation segment is expected to witness the highest growth over the forecast period due to increasing commercial renovation activities in developed regions.
“Asia pacific will dominate the mineral fiber ceiling market in near future”
Asia Pacific is expected to remain the largest region and witness the highest growth over the forecast period due to increasing urbanization, growing awareness to promote lower energy consumption, and the development of new cities and commercial hubs in this region.
Major players of mineral fiber ceiling market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Armstrong World Industries, Saint-Gobain, USG Corp, Knauf, Rockwool International, OWA, Star USG, and Hebei Saiding Building Materials are among the major mineral fiber ceiling providers.
This unique 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 write us at [email protected]