- Several beneficial features like low maintenance, water resistance, durability, stylish designs and cost-effectiveness serve as pillars of growth for ceramic tiles market
- Considerable rise in construction activities across the world, and the use of ceramic tiles to improve the décor of a space may attract growth for ceramic tiles market
ALBANY, New York, June 23, 2020 /PRNewswire/ -- The ceramic tiles market is expanding at a rapid pace in the wake of the wave of urbanization across the globe. More than half of the global populace resides in urban areas and the number is expected to rise in the near future. Hence, the ballooning trend of urbanization directly resonates with the growth of the ceramic tiles market. Increase in renovation activities followed by enhanced living standards is a key pointer for driving demand for ceramic tiles in the residential segment to a great extent.
The research analysts at Transparency Market Research (TMR) predict a healthy CAGR for the global ceramic tiles market across the forecast period of 2019-2027. The global ceramic tiles market was valued at ~US$ 88.0 bn in 2018 and is anticipated to grow further at more than 9.0% CAGR during the forecast period of 2019-2027.
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Ceramic tiles are the preferred flooring choice in residential as well as non-residential segments prominently for the diverse benefits they offer such as water resistance, easy cleaning surfaces, and stylish designs.
Key findings of Ceramic Tiles Market
- Of all product types in the ceramic tiles market, the floor tiles segment is estimated to expand at a roaring pace in the ceramic tiles market; the floor tile segment accounted for more than 50% in 2018
- The residential segment weighed more than 40% in terms of ceramic tiles market share in 2018 and expects to shine as the largest application segment stakeholder during the forecast period
- The increase in novel construction activities across the residential segment will influence the new residential segment greatly; hence, this segment is predicted to display a CAGR of more than 10% during 2019 to 2027
- Amongst all regions, Asia Pacific acquired a significant market share, that is, 60% in 2018 and is expected to continue the good performance throughout the forecast period
Explore 230 pages of in-depth research, incisive insights, and detailed country-level projections. Analyze and discover the latest developments in the Ceramic Tiles Market (Product: Floor Tiles, Wall Tiles, and Others; and Application: Residential Replacement, Commercial, New Residential, and Industrial) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 - 2027 at https://www.transparencymarketresearch.com/pressrelease/ceramic-tiles-market.htm
Ceramic tiles market: Key Driving Factors and Growth Generating Aspects
The growing preference of consumers to use ceramic tiles for residential and commercial purposes may bolster the growth of ceramic tiles market
- Ceramic tiles help in keeping a pollution-free environment and do not attract or hold dirt, pollen or other allergens; if noticed, they can be easily removed by a mop or sponge due to the glazing surface of the ceramic tiles
- The humungous urbanization activity is proving to be a prime growth factor for the ceramic tiles market and continues to make strides across the world
- Other advantages such as easy installation and replacement promise good growth opportunities for the ceramic tiles market
- Easy resource availability and the presence of a diverse industrial base may place Asia Pacific in the front row of growth
- India and China may contribute largely to the growth of the ceramic tiles market due to a substantial rise in construction activities across various parts of the country
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Ceramic Tiles Market: Competitive Analysis
The ceramic tiles market displays fierce competition among numerous manufacturers. Key players bring substantial growth opportunities for the ceramic tiles market through mergers, acquisitions, joint ventures, collaborations, and partnerships. Some well-known names of the players involved in the production of ceramic tiles are China Ceramic Co. Ltd, Ras Al Khaimah (RAK) Ceramics, Gruppo Concorde S.p.A., China Ceramics Co. Ltd, Kale Group, Johnson Tiles, Siam Cement Group, and Mohawk Industries, Inc.
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Global Ceramic Tiles Market
Ceramic Tiles Market, By Product Type
- Floor Tiles
- Wall Tiles
- Others
Ceramic Tiles Market, by Application
- Residential Replacement
- Commercial
- New Residential
- Industrial
Ceramic Tiles Market, by Region
- North America (U.S., Canada)
- Europe (U.K., Germany, France, Italy, Turkey, Spain, Russia, Rest of Europe)
- Asia Pacific (China, India, Japan, ASEAN, Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Middle East & Africa (GCC, South Africa, Rest of Middle East & Africa)
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