Growing Investments In The Construction Industry Propelling Ceramic Tiles Market Ceramic Tiles are used in various construction types such as in new construction and replacement & renovation activities. The new construction segment is projected to dominate the ceramic tiles market, in terms of value, through the forecast period. It is easier and more cost-efficient to install ceramic tiles in new constructions than in replacement & renovation activities.
The ceramic tiles market will grow from USD 227.89 Billion in 2018 to USD 320.07 Billion by 2023, at an estimated CAGR of 7.03%. The segmentation for this report is based on application, construction type, end-use sector, and region. The factors contributing to the growth of the ceramic tiles market include the cost-effectiveness and the aesthetic appeal of these tiles and the growing trend toward interior decoration.
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Asia Pacific dominated the market for ceramic tiles in 2017, in terms of value. The low manufacturing cost, increasing disposable income of the population, and rising construction activities drives the market for ceramic tiles in the region. In the region, China held the largest market share owing to the presence of the promising construction industry.
Key Drivers: •
Increasing Population & Urbanization
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Growing Investments in The Construction Industry
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Rise in The Number of Renovation & Remodeling Activities
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Increase in Industrialization
Opportunities:
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Growth of The Organized Retail Sector
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Rising Demand From Emerging Economies
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By Application: •
Floor
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Wall
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Roof
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Others (Ceiling and countertop)
By Region: •
North America
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Europe
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Asia Pacific
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Middle East & Africa
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South America
The residential segment, by end-use sector, is projected to dominate the ceramics tiles market through the forecast period. The growing focus toward interior decoration and comfort, coupled with the rising disposable income of the population is expected to drive the demand for ceramic tiles in the residential sector.
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The residential segment, by end-use sector, is projected to dominate the ceramics tiles market through the forecast period. The growing focus toward interior decoration and comfort, coupled with the rising disposable income of the population is expected to drive the demand for ceramic tiles in the residential sector.
The global ceramic tiles market is dominated by players such as Mohawk Industries (US), Kajaria Ceramics (India), China Ceramics (China), Siam Cement (Thailand), and Grupo Lamosa (Mexico).
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