Ceramic Tiles Market is Expected to Grow at 9.9% CAGR over the forecast period 2018-2025
Date: 2019-02-22   Author: Rahul Varpe  Category: #market

 Ceramic Tiles Market is Expected to Grow at 9.9% CAGR over the forecast period 2018-2025

The global ceramic tiles market has been poised to reach USD 185 billion by 2024, according to a report by Global Market Insights, Inc. As per statistics, China’s construction industry was the largest in the world, with construction expenditure recorded over USD 1.7 trillion.

As the construction sector is witnessing a major upswing in Asia Pacific region, the regional ceramic tiles market is likely to grab some colossal takes in the years ahead. The tremendous increase in the construction activities across the globe is the prime factor fuelling the growth of ceramic tiles market. Owing to the rapid urbanization, the demand and sales of the ceramic tiles is increasing significantly around the world.

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The APAC is one of the most lucrative regional contenders for the global ceramic tiles market. Indeed, Asia Pacific ceramic tiles industry is anticipated to witness highly commendable gains over 2018-2025. Rise in infrastructural spending in the emerging economies including India, South Korea, and Japan will primarily drive ceramic tiles market in the region.

The factors like ease of maintenance, good thermal & shock resistance, and durability of ceramic titles is expected to provide a substantial push to this industry. The deployment of ceramics tiles is expected to increase in residential buildings, laboratories, hospitals, and commercial buildings.

The contribution of the residential sector toward ceramic tiles industry has been rather prominent, primarily on account of the rising renovation and rebuilding projects for enhanced flooring and wall appearance. The proportion of commercial construction in ceramic tiles market is not to be ignored either.

The mounting trend of providing beautiful and eye-catching aesthetic look in shopping malls, airports, offices, etc. has stimulated the ceramic tiles market share from commercial applications. The recent advent of ceramic tiles with stain and germ resistant features is also likely to enhance the market demand of the product.

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Moreover, the expanding flooring market is poised to provide a notable impetus to the ceramic tiles industry over the coming seven years. As ceramic tiles are one of the most widely used products in flooring application of residential & commercial buildings, the market is ought to exhibit commendable gains in the coming years.

The floor ceramic tile market share is anticipated to depict a substantially high growth rate over the coming years, as these tiles can be perpetually used as substitutes for marble, paints, and other similar products.

Ceramic wall tiles, being another pivotal product segment, is expected to seize a major share of ceramic tiles industry, owing to their wide preference in kitchen walls. These ceramic walls are available in wide range of colours, designs, and patterns. These walls are also embedded with the properties including resistant to heat and sunlight, and ease of cleaning which has resulted in a larger product demand.

The rapidly rising awareness regarding the significance of wall tiles for home decoration is also likely to enhance wall-based ceramic tiles market in the years to come.

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The major upsurge in remodelling projects and robust commercial construction projects comprising offices and sports courts in U.S. has significantly propelled the ceramic tiles industry in the region.  The North America ceramic tiles market is apparently set to showcase remarkable growth prospects in the years ahead.

Some of the renowned players accumulating a major market chunk of the overall market include Mohawk Industries, Lamosa Grupo, Kajaria Ceramics, Siam Cement Group, Florida Tile, Crossville, and China Ceramics.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Global Market Insights, Inc.
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Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for AlgosOnline. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. ...

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