Ceramic Tiles Market 2023, Report Includes Dynamics,Regional Revenue Forecast, Products, and Application

 The ceramic Tiles Market Size was valued at USD 451.5 billion in 2022. The Ceramic Tiles market industry is projected to grow from USD 482.65 Billion in 2023 to USD 720.28 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.90% during the forecast period (2023–2030). Rising demand for single-family homes and the growing influence of designers and architects are the key market drivers enhancing market growth.

Market Scope

The Ceramic Tiles Market is slated to expand at an ascending pace during the forecast period. Increasing investments in infrastructural projects and utilization of ceramic tiles due to their durability can fare well for the market. This is facilitated by rapid urbanization and industrialization. Sustainability initiatives and the aim for lowering carbon emissions can drive the demand for eco-friendly ceramic tiles. Various types of finishes on these tiles such as wood, stone, and marble for highlighting the style of interiors and raising the aesthetic appeal will drive market demand. The lack of volatile organic compounds (VOCs) in its composition which inhibits fungal growth can lead to its huge sales.

The COVID-19 pandemic can have a negative impact on the market owing to legal repercussions and adherence to new guidelines by NEC and FIDIC. Disruption of supply chain and lockdown restrictions imposed by governments can further create challenges for the global ceramic tile market. The hesitancy towards investment in housing projects and fears of unemployment can impede purchasing decisions of consumers.

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Segmentation

The global ceramic tiles market is segmented by product, raw material, and application.

On the basis of the product, the global ceramic tiles market is segmented into floor ceramic tiles, wall ceramic tiles, and others. Floor ceramic tiles had a major market share in 2016 and will dominate the market. Vitrified tiles are used in outdoor environments owing to their low porosity and scratch resistance.

On the basis of raw materials, the market is segmented into silica sand, feldspar, kaolin, bentonite, and others.

On the basis of the application, the global ceramic tiles market can be segmented into residential, commercial, and others. The residential application can dominate the market owing to the construction of various homes. The rise in disposable income levels and standards of living in cities and metropolitan areas can drive segment growth during the forecast period.

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Regional Analysis

The ceramic tiles market is segmented across five regions: Latin America, Asia Pacific (APAC), Europe, North America, and the Middle East & Africa (MEA).

Among these, APAC holds a major share of the market and is expected to be a dominant market with an encouraging CAGR during the forecast period. The rapid growth of industries and urbanization is fuelling the growth of ceramic tiles in the developing countries of the region. Furthermore, the presence of most populated countries such as China and India has augmented the building & construction industry, which, in turn, is significantly driving the demand for ceramic tiles in the oil and gas industry. China, India, and Japan are the largest consumers of ceramic tiles in this region.

North America is another dominant region in the ceramic tiles market. The growing construction sector in the region is the major factor driving the demand for ceramic tiles Pricing Analysis. Canada and the U.S. are the major countries attributing to this growth.

The European market for ceramic tiles is expected to witness steady growth during the forecast years. The growing EU regulations for control of greenhouse emissions can be a plus for the market in the coming years.

Competitive Outlook

RAK Ceramics, Panariagroup Industrie Ceramiche S.p.An, Mohawk Industries Inc, Guangdong Dongpeng Ceramic Co., Ltd., Kajaria Ceramics, Gruppo Concorde, Pamesa Ceramica, Roca Sanitario, S.A., Lamosa, and The Siam Cement Public Company Limited are key players of the global ceramic tiles market. Key players are facing challenges in meeting their target owing to the shutdown of industries. However, exports to GCC countries can be lucrative to ceramic tile manufacturers. The development of 3D-printed ceramic tiles can expedite the production process. This is exemplified by the construction of a new residential block in the Netherlands by studio RAP.

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