Global Ceramic Tiles Market Overview
The key driver impacting the ceramic tiles market is the increased funding in the construction industry resulting in a growing construction sector globally. For instance, As per the Invest India Organisation, the Indian Construction industry in value terms is likely to show a CAGR of 15.7% to attain $ 738.5 bn by 2022. The real estate sector is an important segment of the Indian construction sector. The Indian real estate engrossed$5 billion institutional investments in 2020. The Indian Construction market in India is expected to stand as the third-largest globally. The real estate market will expand to US$ 9.30 billion from US$ 1.72 billion in 2019 by 2040. It is estimated that the total volume of global construction output will increase by 85% to $15.5 trillion globally by 2030 as per the Global Construction 2030 report of Oxford economics report. In addition, there is a growing number of renovation & remodeling activities to improve the infrastructure globally, positively impacting the market growth. Moreover, growing technological advancement in the ceramic tiles industry contributes to the development of the ceramic tiles market in the coming years. Whereas with regards to volume, the market was calculated XX Square Meters in 2020 and foreseen to grow with a CAGR of XX% during 2021-2027.
According to Value Market Research, the global Ceramic Tiles market size was valued at about USD 225 billion in 2020 and is estimated to grow at a CAGR of around 7.5% during the forecast period 2021 to 2027.
The growing population and urbanization are likely to augment the market demand in the forecast period. For instance, As per the United Nations 2018 Revision of World Urbanization Prospects, The urban population worldwide escalated from 751 million in 1950 to 4.2 billion in 2018. Asia accounts for over 54% of the world's urban population. Around 55% of the global population lives in urban areas, a share projected to strengthen to 68%, which is 2.5 billion people by 2050(a boost from 54 percent in 2016). However, environmental regulations and rising regulations on mining activities may hamper the market in the long run. Also, the high availability of substitutes is negatively impacting the market growth. On the other hand, the current industry trends, such as the expanding organized retail sector and increasing demand from developing economies, are expected to offer several beneficial market opportunities to the key players.
The ceramic tiles market is vast, with many local and global players. The ceramic tiles market is extensive, with many international and regional players. The market leaders follow various strategies to enhance their position in the market, such as extending product portfolio, acquisitions, contracts, amalgamation, product upgrades to raise their market share globally. The key market players studied in the report include Mohawk Industries, Inc., Pamesa, Grupo Lamosa, SCG Ceramics, Inc., RAK Ceramics, Ceramica Carmelo Fior, Varmora, Grupo Cedasa, Simpolo, Orient Bell Ceramics, Sun Heart, Nitco Tiles, Pamesa and Kajaria Ceramics Ltd.
In this research report, the Ceramic Tiles market is segmented by product, application, end-user, and region.
Analysis by Product:
By product, the report is categorized into glazed, porcelain tiles, scratch-free ceramic tiles, and others. The porcelain ceramic tiles segment dominates the product segment with over 30% share in 2020. It is due to the ceramic tiles made from fine, denser clay and fired at extreme temperatures, thereby offering superior durability to the flooring with exposure to high traffic. Moreover, it provides mold and bacteria resistance, and chemical and stain resistance contribute to the porcelain tiles segment growth in the forecast period.
Analysis by Application:
By application, the report is categorized into wall tile, floor tiles, and others. The floor tiles segment dominates the application segment with over 50% share in 2020. It is due to the Rising influence of designers and architects for the application of porcelain ceramic tiles, flooring in a non-residential application. Moreover, Easy cleaning, stylish designs, and stain and water resistance offered by these products make it suitable for hotels, malls, and other non-residential buildings contributing to the growth of the floor tiles segment in the forecast period.
Analysis by End-User:
By end-user, the report is categorized into the residential sector and non-residential sector. The residential sector segment dominates the end-user segment with over 40% share in 2020. The expanding real estate industry in developing nations such as India is projected to prompt the demand for the product. Moreover, the glazed ceramic tiles are anti-slip, scratch resistance, and highly water resistant, which increase their utilization in bathrooms contributing to the augmented market demand from the residential segment in the forecast period.
Analysis by Region:
In the regional outlook of the global ceramic tiles market, the Asia Pacific region dominates globally with a 35% market share in the forecast period. It is due to the vast product demand from non-residential and residential construction segments in emerging countries of the Asia Pacific, such as India, China, and Korea. Moreover, the expanding population, rapid urbanization, and increase in per capita income of the people of this region contribute to tremendous market growth across the Asia Pacific.
Market Segmentation covered in the Report:
- Porcelain tiles
- Scratch free ceramic tiles
- Wall tiles
- Floor tiles
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.