- – Manufacturers of ceramic tiles see vast revenue streams in Asia Pacific on the back of rising residential constructions, regional market to expand at more than 9.0% during 2019 – 2027
- – Utilization in various applications in construction activities in developing regions to propel ceramic tiles market to cross valuation of US$ 180 Bn by 2027-end
Transparency Market Research, New York: Ceramic tiles are increasingly preferred in various residential replacement and other constriction activities in residential and industrial applications. Due to ease of maintenance and high aesthetics, ceramic tiles are becoming versatile as floor and wall tiles.
Analysts at TMR project the ceramic tiles market to clock CAGR of more than 9.0% between 2019 and 2027 and surpass US$ 180 Bn by 2027-end.
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Key Findings of Ceramic Tiles Market Report
- – Of the various product types, floor tiles held the leading market share of more than 50.0%, in relation to volume as well as value, in 2018
- – Among the various applications, residential replacement accounted for dominant share of more than 40% in 2018
- – Of the various regions, Asia Pacific contributed the major share to global market in 2018
- – The aforementioned regional market expected to clock of CAGR of more than 9.0% from 2019 to 2027
- – New residential segment is expected to clock significant CAGR of more than 10% during 2019 to 2027
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Ceramic Tiles Market: Key Growth Drivers and Promising Avenues
- – Vast utilization of ceramic tiles in floor tiles in residential applications is a key trend propelling the expansion of the ceramic tiles market. They are popularly used in shower and toilet flooring.
- – Strides being made by residential construction in the developed world is a key trend spurring the revenue generation.
- – Rise in per capita incomes of population in numerous emerging economies has spurred the spending on residential renovations has boosted the prospects in the ceramic tiles market.
- – Strides being made by construction and building sectors have expanded the avenues for new industrial and commercial construction.
- – Manufacturers are increasingly leaning on offering durable and stylish ceramic tiles to meet a wide cross-section of consumer demands.
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Key Impediments to Ceramic Tiles Market Stakeholders
Since the economic crisis of 2008, cost of raw materials such as kaolin, feldspar, bentonite, and silica sand have increased dramatically. This has severely hampered the profit margins. Also, these raw materials are utilized in several other applications. As a result of these two factors, most have passed on the rise in cost of these materials to the price of final products. Consequently, this has dampened the demand for ceramic tiles.
Another key hindering factor is the large production of CO2, increasing the footprint of the ceramic processing. Also, the processing causes emission of particulate matter that may be toxic for the environment. This has raised environmental concerns for manufacturers of ceramic tiles. Nevertheless, players are keenly focused on overcoming some of these constraints and are leveraging advances in ceramic tile manufacturing process.
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Ceramic Tiles Market: Regional Assessment
Among the various regions, Asia Pacific is anticipated to be a highly lucrative ceramic tiles market the assessment period. The regional market accounted for more than 60.0% of the global ceramic tiles market in 2018. China, India, and ASEAN are witnessing substantial consumption of ceramic floor tiles, especially in residential sector. The presence of numerous small- and large-scale manufacturers accounts for a high scope of opportunities in Asia Pacific.
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The Ceramic Tiles Market can be segmented as follows:
Product
- – Floor Tiles
- – Wall Tiles
- – Others (Ceiling Tiles, Roofing Tiles, Countertop Tiles, etc.)
Application
- – Residential Replacement
- – Commercial
- – New Residential
- – Industrial
Region
- – North America
- – U.S.
- – Canada
- – Europe
- – Germany
- – France
- – Turkey
- – Spain
- – Italy
- – 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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