Global Ceramic Tile Market 2020 business opportunities investments growth analysis company profiles and forecast to 2027

 

Ceramic Tiles Market

The global ceramic tiles market is likely to grow at a 6.17% CAGR in the forecast period 2020- 2027, according to the latest Market Research Future (MRFR) analysis. Ceramic tiles, simply put, are mixture of clays as well as other natural materials like water, quartz, and sand. Primarily they are used in shops, offices, restaurants, and houses as kitchen floor and bathroom wall surfaces. The specialty of ceramic tiles is they are easy to maintain, easy to clean, easy to fit, and comes at affordable prices.

Various factors are fuelling the Ceramic Tiles Market Share. As per the recent MRFR market estimates, such factors include the growing population, increasing disposable income, increase in remodelling and renovation activities, rise in investments in the commercial and residential sectors, growing need from emerging economies, growth of the organized retail sector, and growth in the construction of lodging spaces, shopping malls, and office spaces.

On the contrary, increasing tariffs and regulations and volatile raw material prices may limit the ceramic tiles market growth over the forecast period. Besides, the impact of the COVID-19 pandemic on the construction sector owing to production shutdown, cash flow constraints, and supply chain disruptions may also impact market growth.

Market Segmentation

The MRFR report throws light on an inclusive segmental analysis of the global ceramic tiles market based on application, raw material, and product.

Based on raw material, the ceramic tiles market is bifurcated into bentonite, silica sand, feldspar, kaolin, among others.

Based by product, the ceramic tiles market is segmented into floor ceramic tiles, wall ceramic tiles, and others. Of these, the floor ceramic tiles will dominate the market in the forecast period.

Based on application, the global ceramic tiles market is segmented into residential, commercial, and others. Of these, the residential segment will dominate the market over the forecast period.

Regional Analysis

By region, the global ceramic tiles market covers the recent trends and growth opportunity across North America, Europe, the Asia Pacific (APAC), Latin America, and the Middle East and Africa (MEA). Of these, the APAC region will have the lions share in the market over the forecast period. Rapid urbanization and growth of industries, encouraging government regulation like incentives and tax benefits, the presence of populated countries like India and China that has boosted the building and construction industry, rapid socio-economic development, rising number of new housing units, huge investments in the infrastructure sector, and significant demand in Indonesia, Vietnam, Thailand, India, and China owing to rapid growth in the construction opportunities are fuelling the ceramic tiles market growth in this region.

The global ceramic tiles market in North America is predicted to have promising growth over the forecast period. The booming construction sector, rising construction of non-residential and residential buildings, and several Italian tiles manufacturers expanding their production base in the region owing to availability of raw materials are adding to the Ceramic Tiles Market Growth in the region. Canada & the US hold the utmost market share. Besides, the need to upgrade existing infrastructure and steady growth in the non-residential sector such as lodging spaces, hotels, and offices are also fuelling market growth.

The global ceramic tiles market in Europe is predicted to have healthy growth over the forecast period for the growing EU regulation for the control of greenhouse emission.

In MEA and Latin America, the global ceramic tiles market is predicted to have steady growth over the forecast period.

Key Players

The prominent players profiled in the global ceramic tiles market report include Lamosa (Mexico), Mohawk Industries Inc (U.S.)., Pamesa Ceramica (Spain), Panariagroup Industrie Ceramiche S.p.An (Italy), Gruppo Concorde (Italy), Roca Sanitario, S.A (Spain).,Guangdong Dongpeng Ceramic Co., Ltd (China)., RAK Ceramics (Arab Emirates), Kajaria Ceramics (India), and The Siam Cement Public Company Limited(Thailand), among others. Partnerships, mergers and acquisitions, contracts, collaborations, new product launches, geographic expansions, and others are the key strategies incorporated by key players to remain at the forefront.

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