Metal Ceiling Tiles Market Analysis
Time:2021-02-06
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Metal ceiling tiles are prominently used by the construction industry, due to their properties such as longevity and durability, energy-efficient roofing type, acoustically sound, high security, and easy maintenance and recyclability.
Long-lasting appearance, low maintenance characteristics, and outstanding durability are estimated to propel the market during the forecast period in high-traffic areas such as airports, hotels, schools, and shopping malls.
According to Oxford Economics, by 2030, construction production will rise by 85% globally in terms of volume. China, the United States, and India are leading the way and account for 57% of overall growth.
In the United States, private construction spending reached around USD 992 billion in 2018. New construction put in place is forecast to reach over 1.53 trillion U.S. dollars by 2022. The growth of the construction industry is estimated to create a sustainable demand for metal ceiling tiles.
India is expected to develop at twice China‘s pace over the next decade, especially in the infrastructure sector, where over the next three years the government will invest approximately USD 376.5 billion. The growth of developing economies such as India is predicted to upsurge the market growth of metal ceiling tiles.
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