The global ceramic tiles market is estimated to grow with 8.12percent CAGR during the estimated period to reach the revenue of dollar 212.75 billion by 2028. So, we can say some of the primary driving factors for this market include the increasing use of inkjet technology for customization and personalization growing residential renovation and modernization of older one’s strong growth in the flooring market, infrastructure development, and the favorable government policies.
Top Driver: Robust Demand for Growing Construction Industry in Developing Countries
The growth of the construction industry in developing countries is the major driving factor for this market. The rise in investments made by the government to build and renovate infrastructure or public welfare of the nations, the development of public recreational spaces, schools, hospitals, and public transport has led to the increasing consumption of ceramic.
Rise in the expenditure by the government to improve public places like train stations and airports to meet the premium standards has led to a rise in demand. This also enhances the visual appearance of the infrastructure. Further, more rapid industrialization activities and increasing construction of commercial buildings in the developing countries will propel during the forecast period.
Floor Tiles Segment Make Crucial Contribution to Growth of Global Ceramic Market
The population has been growing exponentially for the past few years. The governments of the different countries are associated with private firms to improve the infrastructure of the residential sector to provide housing to the growing population. The flooring segment accounts for the maximum market share. The growing construction of residential and commercial spaces has led to the rise in the consumption of ceramic tiles for flooring. Improve the appearance, and the aesthetic appeal will support the growth of the ceramic tiles market in the forecast period. The onset of the construction of Smart cities has also increased demand. Moreover, the rising need for multi-story residential buildings over private houses has increased the number of ceramic tiles consumption per area of land, thereby boosting the market growth.
Wall tiles are another segment of the ceramic tiles that has less impact in the growth of the global ceramic tiles market.
Rising Investment in Ceramic Tiles to Benefit Asia Pacific and North America Market
The Asia Pacific will hold the largest share in the global market during the forecast period. The Asia Pacific is the largest manufacturer and consumer of ceramic tiles, so we can say this shows signs of emerging as a dominant region during the forecast period. The booming construction sector in this region will be the major contributor to the growth in consumption in this region.
As per the ceramic tiles market report, North America is expected to witness healthy growth during the forecast period in 2019, the recent trend of personalization, customization and additionally, the rising demand for green and energy-efficient buildings for commercial and governmental offices are anticipated to grow the ceramic tiles market in North America.
Players to focus on expanding applications in ceramic tiles market
Key companies are investing considerable sums into ceramic tiles. The companies in the market are focusing on adding a variety of shapes size designs styles to improve its visual appeal.
The dominance of key players is dependent on the capacity of production, brand recognition, product offerings and innovative partnerships.
Mohak industry They are one of the global ceramic industries; the company segments include global ceramic flooring North America and flooring rest of the world. Its manufacturing and distribution process provide carpetrugsceramic tiles, laminate, wood, stone, luxury vinyl tiles, vinyl flooring.
RAK ceramics’s founder is Saud Bin Saqr Al Qasimi. Its Headquarter is in the emirates of Ras Ai Khaimah in the United Arab Emirates, RAKceramics has annual production capacity of 110 million square meters of tiles, 5 million pieces of sanitary ware, 600,000 pieces of faucets. RAK ceramics produces the ceramic and the porcelain tiles for interior and the exterior. Therefore they are considering a leading player in this market.
Scope of the Report
Key Reasons to Purchase this Report
Table of Content
Please fill out the form to receive sample pages of the report