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 a 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 remodeling 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.
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 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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