According to a new market report published by Lucintel, the future of the mineral fiber ceiling market looks promising with opportunities in commercial and residential sectors. The mineral fiber ceiling market is expected to reach an estimated $4,754.4 million by 2024 with a CAGR of 3.8% from 2019 to 2024. The major drivers for this market are renovation activities of existing residential, commercial spaces, and construction of new facilities due to improving economic conditions.
In this market, different types of mineral fiber ceiling grades such as wet felt mineral fibers, stone wool mineral fibers, and glass wool mineral fibers in various materials. Lucintel forecasts that the wet felt is expected to remain the largest material type over the forecast period due to its efficient thermal insulation and sound absorption properties. Lucintel predicts that the glass wool mineral fiber is expected to witness the highest growth during the forecast period because of its lower material and maintenance cost.
Within the mineral fiber ceiling market, commercial renovation will remain the largest end use during the forecast period due to commercial renovation activities in developed regions. The new commercial segment is expected to witness the highest growth due to the increasing rate of urbanization and new commercial construction activities in emerging economies.
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.
Emerging trends which have a direct impact on the dynamics of the mineral fiber ceiling industry include increasing usage of printed mineral fiber ceiling tiles and increasing usage of antimicrobial agents in mineral fiber ceiling tiles. Armstrong World Industries, Saint-Gobain, USG Corp., Knauf, Rockwool International, OWA, Star USG,and Hebei Saiding Building Materials and others are among the major mineral fiber ceiling manufacturers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed the mineral fiber ceiling market by application, material, end use, profile type, color type, and region and has come up with a comprehensive research report entitled “Growth Opportunities in the Mineral Fiber Ceiling Market 2019-2024: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the mineral fiber ceiling market by application, material, end use, profile type, color type, and region as follows:
By End Use [Value ($ Million) and Volume (Million Square Meters) from 2013 to 2024]:
• Commercial Renovation
• New Commercial
• Residential
By Application [Value ($M) and Volume (Million Square Meters) from 2013 to 2024]:
• Office
• Retail
• Education
• Healthcare
• Others

By Material [Value ($ Million) and Volume (Million Square Meters) from 2013 to 2024]:
• Wet Felt
• Stone Wool
• Glass Wool

By Profile Type [Value ($ Million) from 2013 to 2024]:
• T-Bar
• Other Profiles

By Color Type [Value ($ Million) from 2013 to 2024]:
• White
• Other Colors
By Region [Kilotons and $M shipment analysis for 2013 to 2024]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
This 243-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 click on this link https://www.lucintel.com/mineral-fiber-ceiling-market.aspx or [email protected].
About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

This report answers following 11 key questions:

Q.1 What are some of the most promising, high-growth opportunities for the mineral fiber ceiling market to 2023 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)?
Q. 2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and reasons behind them?
Q.7 What are some changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via product substitution?
Q.11 What M&A activity has occurred in the last 5 years?