Ceramic Tiles Market Demand Is Anticipated To Expand At A 8.5% CAGR From 2014 To 2020: Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, global ceramic tiles market is expected to reach USD 125.32 billion by 2020. Increasing use of tiles in residential projects, offices, restaurants, resorts, and malls is expected to drive the market growth.

According to a report published by Grand View Research, Inc.; the global ceramic tiles market is projected to reach a valuation of USD 125.32 billion by 2020. Growing construction industry and increasing demand for new residential structures in developing countries due to urbanization can propel the market over the forecast period (2012-2022). The market demand is anticipated to expand at a 8.5% CAGR from 2014 to 2020.

Increasing use of tiles in residential projects, offices, restaurants, resorts, and malls is expected to drive the market growth. Development of floor tiles as a viable replacement for hardwood and other types of flooring owing to properties such as greater frost & thermal shock resistance and durability is expected to create more opportunities in the market.

Rising health awareness and concerns about personal hygiene is also likely to increase the product demand over the forecast period. The product provides many advantages such as reduction in household allergens due to its properties like moisture resistance and chemical inertness. Moreover, increasing research and development activities and development of eco-friendly products due to strict environment policies is expected to increase the participation of companies during the forecast period. In addition, rising government initiatives to promote product usage in several countries is likely to create new opportunities in the market over the forecast period.

Full research report on ceramic tiles market analysis:  

U.S. ceramic tiles market size, by application, 2012-2022 (USD Million)

However, strict guidelines for reducing carbon emission and increasing use of ceramic in disk brakes and refractories is anticipated to limit the availability of raw material, which is expected to restrict the market growth over the forecast period. Increasing use of rubber and glass as an alternative can also pose a challenge to market growth.

The worldwide ceramic tiles market is segmented into raw material, product, application, and region. As per raw material, the market can be classified into alumina, zircon sand, silica, kaolin, and others. Based on product, the market can be categorized into wall tiles, floor tiles, and others. As per application, the market can be bifurcated into residential replacement, new residential, commercial, and others.

Geographically, the market can be divided into North America, Europe, Asia Pacific, Latin America, and Rest of the World (RoW). In 2014, Asia Pacific accounted for the largest market share in terms of revenue. It is expected to continue its dominance during the forecast period. This growth can be attributed due to rising construction activities in countries including India and China due to increasing disposable income and rapid urbanization. The key ceramic manufacturers are also shifting their production hubs in the region. In addition, governments of India and China have increased the infrastructure expenditure. This is likely to increase the residential and commercial projects, thereby driving product demand during the forecast period. The product demand in many applications such as residential replacement, commercial construction, and new residential construction has increased over the years in China and India.

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Global ceramic tiles market share, by region, 2016 (%)

In 2014, Europe was the second-largest market in terms of revenue. It is anticipated to grow at a rate of 2.7% during the forecast period. Increasing use of the product for maintaining hygiene in residential and commercial projects and providing aesthetics and durability to structures is anticipated to culminate in increased product demand in the region. The UK government’s initiative to support the domestic industry is anticipated to create more opportunities in the market. Focus on improving thermal and acoustic properties of ceramic tiles can augment demand in the Europe market.

Development of West Africa as a manufacturing hub for ceramic business due to high domestic demand for the product in household and construction applications in countries including Nigeria is expected to create positive impact on the market. Many manufacturers are attracted to the region due to low manufacturing costs as compared to Europe and North America.  

Prominent players operating in the market include Crossville Inc.; Kajaria Ceramics; RAK Ceramics; Saloni Ceramica; and Mohawk Industries, Inc. The players are mainly focusing on new product developments, acquisitions, and partnerships to maintain their hold in the industry. Manufacturers are focusing on developing technologies for simple, flexible, and low-cost production of the product. Manufacturers are also focusing on reduction of CO2 emissions and water consumption using better processing techniques.

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For more information: https://www.grandviewresearch.com/

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