Ceramic Tiles Market Size Worth USD 120 Billion by 2030 Witnessing a CAGR of 17.25% – Report by Market Research Future (MRFR)
Ceramic Tiles Market Insights and Industry Analysis by Raw Material (Feldspar, Kaolin, Bentonite, Silica Sand), By Product (Ceramic Tiles, Floor Tiles, Others) By Application (Residential and Commercial) and Region, Competitive Market Size, Share, Trends, and Forecast to 2028
New York, US, May 19, 2022 (GLOBE NEWSWIRE) — Ceramic Tiles Market Overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), “Ceramic Tiles Market Information by Raw Material, Product, Application, and Region – Forecast till 2030”, the market is estimated to grow at a CAGR of 17.25% CAGR to reach USD 120 Billion by 2030.
Market Scope:
Ceramic tiles are made up of clays as well as other natural resources including sand, quartz, and water. They are commonly utilized as bathroom and kitchen floor surfaces in homes, restaurants, workplaces, and shops. They are simple to install, clean, and maintain, and they are reasonably priced.
Competitive Dynamics:
The ceramic tile market share has been increasing because of the excellent performance that has been recorded by the following market players:
- Mohawk Industries (US)
- STN Ceramica (Spain)
- Siam Cement Group (Thailand)
- Grupo Fragnani (Brazil)
- Grupo Lamosa (Mexico)
- Pamesa Ceramica (Spain)
- RAK Ceramics (UAE)
- Ceramica Carmelo Fior (Brazil)
- Kajaria Ceramics (India)
- Grupo Cedasa (Brazil)
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Market USPs Covered:
Market Drivers:
Due to population expansion and an increase in people’s disposable money, the ceramic tile market has been rising at a rapid pace. In addition, there has been a significant increase in renovation and remodeling operations, which must lead to an increase in residential and commercial investment. The market is experiencing new development prospects as demand from emerging nations grows in tandem with the growth of the organized retail sector.
The market for ceramic tiles is seeing an increase in demand as the population grows. Furthermore, the migration of people from rural to urban regions has accelerated the rate of growth. By the year 2050, the global population is expected to reach 9.5 billion, with cities accounting for at least 66.4 percent of the total. The United Nations Population Division provided this worldwide information. There has been a favorable movement in living standards, but cleanliness and sanitation will need to improve. The APAC region has seen significant progress in the ceramic tile market in recent years.
Digitally printed ceramic tiles are one of the most recent market developments. Because of the detailed designs, consumers choose digitally printed tiles, which help to improve the aesthetic appeal. Furthermore, the discovery and application of new technology for printing designs on tiles has aided manufacturers in maintaining design uniformity. Digitally printed tiles are becoming more popular as consumers increase their spending power and the demand for innovative interior design grows.
Market Restraints:
However, over the projection period, which ends in 2028, concerns such as variable raw material costs and increased restrictions and tariffs restrain market growth. Furthermore, the creation of a tile is an incredibly energy-intensive operation that includes costs for power, gas, and transportation. These are the most important cost-related challenges affecting the sector. Another important aspect affecting the growth of the ceramic tiles sector is the availability of consistent power and fuel at reasonable prices. Volatile markets have had major negative implications, which are mostly experienced by manufacturing companies.
Browse In-depth Market Research Report (124 Pages) on Ceramic Tiles: https://www.marketresearchfuture.com/reports/ceramic-tiles-market-977
COVID-19 Analysis:
The COVID-19’s arrival has had a significant impact on every country’s GDP on the world stage. The worldwide economy has suffered as a result of the nationwide imposed lockdowns followed by the shutdown of non-essential enterprises. The world has entered a global recession as a result of decreased demand from clients all across the world. Furthermore, the markets are not anticipated to recover fully anytime soon. Because of the installation of temporary and permanent lockdowns, many ongoing construction projects and activities, including government infrastructure projects, came to a complete standstill. The construction business, like many others, is known for being labor-intensive. Unemployment in the construction business is at an all-time high, causing widespread concern. As a result, laborers are returning to their homelands to be set free during the pandemic.
Segmenting the Market:
By raw material
Over the forecast period, increased uses of silica sand are likely to fuel segment expansion in the ceramic tiles market.
By product
Due to the wide range of application scope as well as design and product innovations being conducted in the present market situation, the Ceramic Tiles segment is predicted to grow at a strong CAGR over the study period. Ceramic tiles are stylish and functional, with features including slip resistance, scratch resistance, and antibacterial characteristics. In comparison to their competitors, this makes them an excellent choice.
By application
Commercial applications are expected to increase rapidly during the evaluation period. Increased demand from commercial projects, such as hotels and shopping malls, is predicted to fuel product demand because these tiles are both cost-effective and attractive. The growing influence of designers and architects in the use of porcelain tiles and flooring in commercial settings is projected to drive demand. These products’ easy cleaning, elegant designs, and stain and water resistance are expected to drive demand in commercial flooring applications over the forecast period.
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Regional Analysis:
Because of its rapid socioeconomic development, the Asian Pacific area is emerging as the most appealing market for ceramic tiles. The demand for ceramic tile materials in the APAC area is being fueled by an increase in the number of new dwelling units and massive investments in the infrastructure sector. The demand for ceramic tiles in countries such as China, India, Thailand, Indonesia, and Vietnam is driving the expansion of the ceramic tiles market in the APAC region. The fundamental reason for this is that these countries’ construction opportunities are rapidly expanding.
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