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LOS ANGELES, April 22, 2021 (GLOBE NEWSWIRE) -- The
Global Ceiling Tiles Market is expected to grow at a CAGR of around 6.3% from 2020 to 2027 and reach the market value of over US$ 18.6 Bn by 2027.
Asia Pacific to dominate the global ceiling market in the forecast period
The ceiling tile market was dominated by the Asia-Pacific region. With increased investment in residential and commercial construction in countries such as India, China, the Philippines, Vietnam, and Indonesia, the market for ceiling tiles is expected to grow in the coming years. Furthermore, in India, the government's US$ 120.5 Bn investment target for developing 27 industrial clusters is expected to boost commercial construction in the country. The Indonesian government announced plans to invest approximately US$ 450 Bn in the construction sector by 2021, with the goal of increasing residential construction in the country. As a result, the aforementioned investments and planned projects in different nations are driving construction activities in the region that is expected to drive demand for ceiling tiles in the region over the forecast period.