Interior Construction Materials Industry | Forecast 2030
Interior Construction Materials Industry Data Book – Flooring, Insulation, Ceiling Tiles, Windows and Doors Market
The economic value generated by the interior construction materials industry was estimated at approximately USD 578.06 billion in 2022.
Grand View Research’s interior construction materials sector data book is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research.
Flooring Market Insights
The flooring market is growing at a significant rate owing to a rise in infrastructural and residential development as a result of the growing population across the globe. In addition, rising disposable incomes have increased investment in comfortable residential buildings, resulting in the use of high-end building materials in construction. These factors are expected to increase the demand for flooring over the coming years.
China has dominated the flooring market and accounted for a revenue share of 16.5% in 2022, followed by the U.S. and India. The market growth in the major countries is attributed to the increasing investment in affordable housing, smart city construction, upgradation, and construction of infrastructure.
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Insulation Market Insights
Rising consumer awareness about energy conservation is likely to remain a crucial driving factor for the global insulation market. Favorable regulations in the majority of regions are also expected to have a positive impact on market growth. Additionally, increased infrastructure spending in the emerging markets of Asia Pacific and Latin America is expected to propel the insulation market’s growth.
The high rate of industrialization, along with rapid urbanization in the emerging markets of China and India, as well as Japan, Malaysia, Thailand, and Indonesia, have driven the need for better infrastructure. Increasing construction spending to improve residential, public, and industrial infrastructure in the region, coupled with the increasing adoption of energy conservation initiatives, is expected to drive the demand for insulation over the forecast period.
Ceiling Tiles Market Insights
The global ceiling tiles market size was estimated at USD 6.82 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 9.3% from 2023 to 2030. The growth is expected to be driven by rising commercial construction activities like office complexes, institutional buildings, and healthcare facilities across the world. The market is likely to grow substantially with increasing disposable income in emerging economies, increasing demand for thermal and acoustic insulation, and changing consumer behavior toward the aesthetics of office and home buildings.
the global ceiling tiles market report based on product, application, and region: The mineral wool product segment led the market and accounted for 42.4% of the revenue share in 2022. The superior performance attributes of the products such as thermal and acoustic insulation, lightweight, and recyclability have resulted in increased penetration of the product in the application industries.
Go through the table of content of Interior Construction Materials Industry Data Book to get a better understanding of the Coverage & Scope of the study
Windows And Doors Market Insights
The global windows and doors market is expected to witness significant growth on account of rapidly progressing residential and commercial segments of the construction industry. An increase in renovation and remodeling activities for homes and rising expenditure by consumers on home improvement activities are projected to propel the product demand. Factors such as increasing population, consumer inclination toward remodeling their homes, and government initiatives aimed at offering affordable housing to people are expected to drive the market growth.
Windows and doors market can be segmented based on material type into steel, aluminum, plastic, wood, and glass. The material is chosen based on durability and aesthetic value. Doors made from solid core timber are commonly used for front gates to avoid unwanted sound and for proper security. Aluminum doors are used for making garage doors and shutters, owing to their durability, affordability, and less weight. Steel, owing to its good strength, is used for making grills and used in premises that need high security.
Competitive Insights
The global interior construction materials market is highly competitive, as the market has a significant presence of national and multinational companies with prominent brand values. Companies in the global interior construction materials market offer extensive product portfolios to meet the current and future demands of customers in different application industries.
The major market players are involved in opting for strategies such as high investments in research and development, mergers and acquisitions, collaborations, partnerships, new product developments, and expansions of production capacities and product portfolios to gain a competitive advantage.
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