The global ceramic tiles market features a highly
competitive and extremely fragmented landscape as the top five
players accounted for a combined share of meagre 7.7% in 2015, notes
Transparency Market Research (TMR). These leading companies are
Kajaria Ceramics, RAK Ceramics P.J.S.C, Siam Cement Group, Grupo
Lamosa, and Mohawk Industries Inc. The top players are intensely
introducing innovative designs and patterns and boosting their
distribution channels in order to consolidate their market presence.
Several players are conducting extensive research into the current
design trends and ramping up their sales efforts in major regions to
gain a competitive edge over others.
The global market for ceramic tiles was valued at
US$76.81 bn in 2015, in terms of revenue. Rising at 9.80% CAGR from
2016 to 2024, the opportunities in the market is projected to reach a
valuation of US$178.10 bn by the end of 2024.
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Asia Pacific Projected to Offer Lucrative
Growth Avenues
Regionally, the global ceramic tiles market is
segmented into North America, Latin America, and the Middle East and
Africa, Europe, and Asia Pacific. Of these, the Asia Pacific market
held the leading share in 2015 and is projected to occupy a share of
66.5% by the end of 2024. This regional market is anticipated to
witness a substantial demand for ceramic tiles throughout the
forecast period, primarily in countries such as China, India, and
South Korea.
The primary product segments in the ceramic tiles
market are floor tiles, ceiling tiles, roofing tiles, and wall tiles.
Of these, the segment of floor tiles is projected to witness a robust
growth throughout the forecast period. In terms of aggregate
consumption volumes of ceramic tiles, the floor tiles segment
dominated the market in 2015.
Growing Prominence of Ceramic Tiles in
Beautification of Homes Unlocks Exciting Opportunities
The global ceramic tiles market is primarily
driven by their growing use in a number of applications such as in
residential replacement, commercial, new residential, and industrial
various nations. This is mainly attributed to the rising construction
activities in several developed and developed nations such as India,
China, and various ASEAN countries. The growing push among people
toward beautification of homes and a thriving construction activities
in commercial sector in a number of industrialized nations are the
key factors boosting the ceramic tiles market. The growing popularity
of ceramic tiles in several Gulf Cooperation Council (GCC) nations is
driven by their increasing use of ceramic tiles in imparting vibrant
colors to homes and innovative patterns to walls. This is expected to
boost the ceramic tiles market.
Owing to the higher durability and longevity,
there is an increasing prominence of the use of ceramic tiles over
marbles for flooring and walls, which is catalyzing the growth of the
ceramics market. Rising spending of people in residential
replacement has bolstered the consumption of ceramic tiles. The
soaring demand for ceramic tiles is attributed to them being
cost-effective and resist chipping and breakage. This is expected to
accentuate the market in the coming years.
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However, there is marked volatility in raw
material prices such as feldspar, bentonite, kaolin, and silica sand.
This is a key factor likely to hinder the ceramic tiles market to an
extent. On the other hand, the soaring demand for ceramic tiles
flooring in several residential replacements, especially in flooring,
in numerous developing economies has opened up exciting opportunities
for market players.
The study presented here is based on a report by
Transparency Market Research (TMR) titled “Ceramic Tiles Market
(Product - Floor Tiles, Wall Tiles, Ceiling Tiles, and Roofing Tiles;
Application - Residential Replacement, Commercial, New Residential,
and Industrial) - Global Industry Analysis, Size, Share, Growth,
Trends, and Forecast 2016 - 2024.”
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