ceramic tiles market size 2021 Executive Summary, Segmentation Forecast to 2030
These are some of the protuberant market compelling factors for ceramic tiles.
ceramic tiles market size
Global Ceramic Tiles Market Research Report — Forecast to 2022” — Market Analysis, Scope, Stake, Progress, Trends and Forecast up to 2022.
Mohawk Industries, British Ceramic Tile, Torrecid Group, Atlas Concorde, Porcelanosa Group, Crossville Inc., Gruppo Ceramiche Ricchetti, Kajaria Ceramics, and Asian Granito India Ltd. are some of the prominent players at the forefront of the competition in the Global Ceramic Tiles Market and are profiled in MRFR Analysis.
Ceramic Tiles Market — Market Overview
Amidst the decline in oil prices in the GCC the construction activities in the region still remains as a strong indicator for economic growth in the region. The construction activities is expected to stimulate in the coming years with an overall capital spending in GCC estimated at USD 480 billion of which 65% will be towards infrastructure development. Accounting for the latter mentioned factors it is healthy to assume a pool of market opportunities for ceramic tiles in the Middle East adding value to the Ceramic tiles market size as a whole.
A slab made up of mixture of clay and inorganic raw materials, ceramic tiles, the market supply demand scenario is inclined towards the dynamics of construction industry and the economic conditions. The market consumption trends vary region to region, for instance, the economic downturn in 2008–09 in the U.S which had an adverse effect on the housing industry in the country witnessed sharp decline in the ceramic tile industry. However, the recent stats showing a positive outlook for housing market in the U.S for 2017–18 with low mortgage rates in the country beefing up new construction activities. Hence, a positive prospect for the ceramic tile players operating in the region. Since, the ceramic tiles are majorly consumed in its close vicinity of production.
Ceramic tiles are widely consumed among new residential and non-residential constructions along with the reconstruction and renovation activities. With the increasing population, urbanization, and industrialization in the emerging economies such as Asia Pacific and Middles East are stimulating the construction activities. These are some of the protuberant market compelling factors for ceramic tiles.
Protuberant trends further supporting the growth of ceramic tiles market growth includes innovative designs and enhanced aesthetics, for instance, combination of materials in an innovative manner, traditional stone and wood look ceramic tiles. Increasing reconstruction and repair activities across the globe replacing traditional construction with new designs can be further attributed towards the growth of digital printing on ceramic tiles across the globe. Furthermore, government initiatives in the emerging economies for infrastructural developments is expected to stimulate the market for ceramic tiles. For instance, government of India’s proposed spending in infrastructure accounting for 10% of the country’s GDP in its 12Th five-year plans will boost the demand for ceramic tiles in the country.
Ceramic Tiles Market — Competitive Analysis
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