Ceramic tile is one of the most prevalent flooring choices used in building & construction industry globally. These are made using raw materials such as feldspar, bentonite, kaolin, sand, and glass. These offer reduction in household allergens, are environment friendly, easy to clean, very low maintenance, cost-effective, and are resistant to scratch, moisture, and dust.
The global ceramic tiles market is driven by growth in construction sector worldwide. In addition, increase in use of ceramic tiles as a substitute to other products in residential applications, such as marble, paints, and glass, is expected to fuel the demand for ceramic tiles in the near future. However, stringent regulations pertaining to emissions of exhaust gases during the production of these tiles is expected to restrain market growth. Thus, introduction of environment-friendly production processes is expected to offer lucrative opportunities for market players.
Vitrified ceramic tile held more than half of the total market share in 2015, and is expected to maintain its dominance during the forecast period. This is attributed to the rapid expansion of the construction industry worldwide. In addition, the introduction of new production processes and new product features is expected to boost growth of this segment.
The ceramic tiles market was valued at $84,123 million in 2015, and is projected to reach $145,949 million by 2022, growing at a CAGR of 8.1% from 2016 to 2022. Asia-Pacific held nearly one-third share of the global market in 2015.
New residential and residential replacement applications dominated the global market, with nearly two-thirds share, in terms of volume, in 2015. Increase in demand for moisture- and dust-resistant properties across residential and commercial applications is anticipated to drive the market growth.
Key findings to the Ceramic Tiles Market:
- In terms of value, vitrified tile segment is expected to grow at a CAGR of 7.6% during the forecast period.
- Asia-Pacific is projected to maintain its lead position throughout 2022, growing at a CAGR of 9.0%, in terms of value.
- Residential replacement approximately occupied more than one-third of the global market in 2015.
- China occupied more than one-fourth of the Asia-Pacific ceramic tiles market in 2015, and is expected to grow at the highest CAGR of 11.0%, in terms of value.
In 2015, Asia-Pacific and North America collectively accounted for two-thirds of the ceramic tiles market, and are expected to continue this trend during the analysis period. The Asia-Pacific market is expected to grow at the highest CAGR, owing to increase in construction sector in China, India, and other developing economies and rise in housing sector.
The major companies profiled in the report include RAK Ceramics, Mohawk Industries, Ceramica Saloni, China Ceramics, Kajaria Ceramics, Porcelanosa Grupo, Siam Cement Group, Lamosa Grupo, Ras Al Khaimah Ceramics, and Crossville Inc.
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