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.
Browse full research report on Ceramic Tiles Market: https://www.grandviewresearch.com/industry-analysis/ceramic-tiles-market
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.
Browse more reports of this category
by Grand View Research: https://www.grandviewresearch.com/industry/specialty-glass-ceramic-and-fiber
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.
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: www.grandviewresearch.com
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