Ceramic tile market will increase at a compound annual growth rate of 9.7% within

Wilmington, Delaware, US, August 25, 2022 (Globe Newswire) – Transparency market research company The global ceramic tile market is expected to rise at a CAGR of 9.7% during the forecast timeline, from 2019 to 2027. The revenue of the ceramic tile market is likely to reach US$180 billion by 2027. In the coming years, the growth is expected to The construction industry will offer lucrative opportunities to the global ceramic tile market. Ceramic tiles are one of the most important materials used in construction. The construction industry is likely to present the greatest opportunity for the ceramic tile market during the forecast period.

New residential and commercial construction as well as local renovation are just a few examples of the many uses of ceramic tiles. These segments are estimated to be the fastest growing market for ceramic tiles market. Moreover, a great demand for ceramic tiles is being generated through increased construction activities as a result of population migration to urban areas.

Companies in the global ceramic tile market dedicate their attention to improving the items they offer. Hence, there has been a remarkable growth in research and development by market players. In addition, companies carry out a wide range of strategic actions to acquire a large part of the market, including joint ventures, partnerships, mergers, collaborations, and also acquisitions. Moreover, industry participants are stepping up their efforts to compensate for the financial losses caused by the COVID-19 outbreak. As a result, companies bring in additional strategic teams to achieve this goal.

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The main findings of the market report

  • In 2018, the residential replacement category accounted for more than 40% of the total ceramic tile market. This trend is expected to continue throughout the forecast period. The future market demand for ceramic tiles for domestic renovation is mainly driven by the rise in rebuilding activities due to higher discretionary income and better standard of living.
  • Depending on the product type, the floor tile category accounted for more than 50% of the total sales in 2018 and is expected to be a prominent product category from 2019 to 2027. As the flooring takes up more space during construction, a large number of tiles are required. Because they are impermeable to odors, stains, and allergens, as well as germs, ceramic floor tiles are frequently used in toilet and shower floors. The floor tiles segment is expected to expand between 2019 and 2027 at a compound annual growth rate of over 9%.
  • Based on the region, the global ceramic tile market is estimated to be dominated by the Asia Pacific region. The regional market is driven by increased purchasing power and expansion of construction activity. Owing to the burgeoning construction sector in the region, China maintained a dominant share of the regional market in 2018. Vietnam, India, Indonesia and China are significant market players in the Asia Pacific region.

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worldwide Ceramic tile Market: Engines of Growth

  • Increasing purchasing power and increasing population have a great impact on the increasing demand for clay tiles. Vendors use breakthroughs in modern printing technology, which is one of the recent developments in the ceramic tile market, to provide a variety of clay tile feel. Almost 80% of the market for non-strong floor surfaces is made of ceramic tiles.
  • The market in North America is expected to expand significantly during the forecast period. The North American ceramic tile market is driven in large part by the region’s recovering construction sector, particularly the commercial sub-sector.

worldwide Ceramic tile Market: a key players

Some of the major players in the market are

  • Panariagroup Industrie Ceramiche SpA
  • Mohawk Industries, Inc.
  • China Ceramic Co., Ltd.
  • Concord Spa Group,
  • Ras Al Khaimah (RAK) Ceramics
  • Siam Cement Group

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worldwide Ceramic tile Market: fragmentation

Producer

  • Floor tiles
  • wall tiles
  • Aharon

Request

  • Residential replacement
  • commercial
  • new residential
  • Industrial

region

  • North Amarica
  • Europe
  • Asia Pacific
  • Latin america
  • Middle East and Africa

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