PMR Projects Accelerating Sales of Ceramic Tiles with Significant Growth of the Construction Industry
The recent report on the global ceramic tiles market published, offers comprehensive insights and unbiased analysis. The ceramic tiles market reached ~US$ 91 Bn in 2018. According to the research report, the ceramic tiles market is expected to grow at ~9% value CAGR over the forecast period of 2019-2029. Rising demand for ceramic tiles in residential as well as commercial construction activities, and reviving growth of the construction industry are anticipated to fuel the growth of the ceramic tiles market during the forecast period.
According to the detailed study and analysis, increasing construction spending, particularly in the residential construction sector, and inclination towards production of eco-friendly products among the manufacturers are likely to positively impact the growth of the ceramic tiles market. Additionally, high demand for ceramic tiles for flooring and wall applications in residential and non-residential construction activities is expected to boost the market growth throughout the forecast period.
High adoption of dry pressed formulation technology continues to influence the growth strategies, while manufacturers are focusing on adoption of casting technology to capitalize on the evolving trends in the construction industry. The global ceramic tiles market value is estimated to be ~US$ 97 Bn by 2019-end, and is forecasted to reach ~US$ 228 Bn by the end of 2029.
Asia Pacific to Remain at the Forefront
As a result of steady demand for ceramic tiles from the growing residential and non-residential construction industry, Asia Pacific is expected to hold a notable share of the ceramic tiles market, in terms of both value and volume. While Asia Pacific continues to maintain its leading position, the ceramic tiles market in North America and Europe is also anticipated to grow at a promising rate.
Dry Pressed Ceramic Tiles to Witness High Demand
Among various formulation technology of ceramic tiles, the dry pressed technology is likely to contribute to major share of the manufacturers’ bottom lines. Furthermore, the dry pressed ceramic tiles are expected to project profitable growth with a significant CAGR over the forecast period.
High Adoption of Ceramic Tiles for Flooring
In recent years, ceramic tiles have ben witnessing high demand for flooring application. In addition, the wall application of ceramic tiles is estimated to expand at a favorably higher rate than other application areas over the forecast period. New construction and maintenance activities in developed as well as developing regions are estimated to fuel the growth of the ceramic tiles market. The increasing construction projects and rebuilding activities are anticipated to influence major players to increase their production and explore various untapped applications and regions.
Ceramic Tiles Market: Competition Landscape
Some of the prominent market participants of the global ceramic tiles market operating at international and domestic levels are as follows:
- Mohawk Industries
- Ceramiche Atlas Concorde S.P.A
- PORCELANOSA Grupo A.I.E
- Kajaria Ceramics Limited
- Johnson Tiles
- Grupo Lamosa SAB de CV
- Cersanit SA
- Crossville Inc.
- Pamesa Ceramica Sl
- GranitiFiandre S.p.A.
- Florim Ceramiche S.P.A
- Portobello Ceramics
- Rak Ceramics
- Grupo Fragnani
- Saudi Ceramic Company
- LIXIL Group Corporation
With a large number of market participants in the global ceramic tiles market, the competition among these players is intense. The market players are differentiated on the basis of tier structure ranging from Tier 1 to Tier 3. Some of the players such as Mohawk Industries, Florim Ceramiche S.P.A, Grupo Fragnani, Grupo Lamosa SAB de CV, and Kajaria Ceramics Limited, along with other key players, are categorized under Tier 1 players of the global ceramic tiles market. To expand product offerings, market leaders are collaborating with other market players.
This research highlights key opportunities and trends in the ceramic tiles market and concluded that the market would exhibit growth at a CAGR of ~9% over the forecast period
These insights are based on a report on Ceramic Tiles Market by Persistence Market Research.