- Increasing urbanization, which is anticipated to be the most dynamic element shaping the global ceramic tile market.
- Wall applications of tile are anticipated to be the fastest growing segment over the forecast period as ceramic tiles are being increasingly preferred for kitchen, and rest room walls.
- Additionally, ceramic tiles are cost efficient solutions as compared to other flooring alternatives.
Cost-effectiveness, aesthetic appeal of ceramic tiles and increasing demand from interior decorators are expected to nurture market growth
The global construction industry is growing at a prominent impetus fueled by the burgeoning demand from the U.S., China and India. The growth of construction industry is anticipated to outpace the global GDP growth by 2030 by a prominent margin.
Being a primary component of residential and commercial buildings, ceramic tiles are anticipated to grow at a promising compounded annual growth rate of 6.5% during the forecast period. Increasing demand for interior designing and availability of interior designing services at affordable cost are anticipated to fuel the growth of ceramic tiles market across the globe.
Additionally, ceramic tiles are cost efficient solutions as compared to other flooring alternatives and thus are witnessing rise in penetration across a wide range of consumer base.
Wall mounted applications of ceramic tiles will drive market growth due to the durability, water, moisture and fire resistance properties of ceramic tiles
The ceramic tiles market is segmented based on product type, application, end use, and geography. Based on application, the global ceramic tile market is segmented into wall, floor, and others.
Among these, application of ceramic tiles in floors dominated the market in 2018 owing to increased demand from new construction and retrofit floor tile replacement across the developed economies. Wall applications of tile are anticipated to be the fastest growing segment over the forecast period as ceramic tiles are being increasingly preferred for kitchen, and rest room walls due to aesthetic and functional attributes such as durability, resistant to water, moisture and fire. The wall applications are anticipated to grow at a CAGR close to 10% during the forecast period.
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Growth in residential construction to fuel demand for ceramic tiles during coming period.
Based on end use, the market is segmented into residential, commercial and industrial. The residential construction is growing rapidly across the globe fueled by increasing urbanization, which is anticipated to be the most dynamic element shaping the global ceramic tile market. The increase in disposable income and rising preference for interior designing are anticipated to further bolster the growth of ceramic tile market across residential construction. The ceramic tiles in commercial applications is anticipated to expand at a steady growth during forecast period.
Based on geography, the market is segmented into North America, South America, Europe, Asia Pacific, and Middle East & Africa. The demand for ceramic tiles is anticipated to be dominated by the U.S., China and India. North America accounted for a major share in global ceramic tile market owing to high demand from the U.S. Asia Pacific is anticipated to be the second largest market for ceramic tile fueled by the impetus of construction industry in China and India. Europe is anticipated to grow at a steady growth, with majority of growth from the U.K. and Germany over coming years.
Major players operating in the global ceramic tiles market include Kajaria Ceramics, Siam Cement, Grupo Lamosa, Porcelanosa Group, Crossville Inc., Gruppo Ceramiche Ricchetti, Florida Tile, China Ceramics Co. Ltd, Saloni Ceramica, Mohawk Industries, and Veisa Ceramics.