Ceramic Tiles Market Future Prospects and Forecast To 2028
The global ceramic tiles market size was valued at USD 207.10 billion in 2021 and is expected to reach USD 312 billion by 2028, at a CAGR of 6.7% during the forecast period 2022 to 2028.Ceramic tiles are becoming more popular in flooring and walling applications because they are robust, stiff, and environmentally friendly materials that meet green construction requirements. There has been a considerable growth in home building investment in recent years, which has resulted in an increase in demand for ceramic tiles all over the world. As a result, manufacturers are concentrating on producing ceramic tiles for domestic use. Ceramic tile market growth is expected to be driven by residential maintenance and new installation activities. Governments are offering low-cost housing, which is expected to help the business develop over the next several years. Furthermore, the movement in customer preferences toward the use of ceramic tiles in homes is likely to drive demand.
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Over the projected period, growth
in the development of office spaces, retail malls, hotel spaces, and other
functional spaces around the world is expected to drive up demand for the
product. The use of digital inkjet printing technology for tile decorating is
becoming increasingly popular in the ceramic tile business. Over the projected
period, substantial advancements in print head design and ink composition are
also predicted to boost the market adoption of the mentioned technology. Many
service businesses, including design studios, are merging with key participants
in the industry to help develop new visuals for the manufacturing of more
visually pleasing ceramic tiles. It also comprises providers of end-of-line
processing, such as cutting, grinding, and lapping, to complete the final
product.
The global ceramic
tiles market segmentation:
2) By End-use
Sector: Residential, Non-residential.
3) By
Construction: New Construction, Renovation & replacement
In 2019, Asia
Pacific led the market, and this trend is expected to continue during the
forecast period. High product demand from the residential and non-residential
building categories in Asia Pacific's rising economies, such as China and
India, is projected to drive market expansion. Due to the growing per capita
income, fast urbanization, and an expanding population, the construction sector
in Asia Pacific is anticipated to develop. Due to the extreme region's
sustained economic growth, the residential, non-residential, and industrial
sectors are projected to expand, boosting construction activity and fueling
product demand throughout the projection period. In 2019, the non-residential
building sector, which includes offices, hotels, and lodging spaces, grew
steadily, indicating that product demand in North America would continue to
rise in the future.
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Some of the major key players in ceramic tiles market, which includes Gruppo
Concorde (Italy), Guangdong Dongpeng Ceramic Co.Ltd (China)., Kajaria Ceramics
(India), Lamosa (Mexico), Mohawk Industries Inc (U.S.)., Pamesa Ceramica
(Spain), Panariagroup Industrie Ceramiche S.p.An (Italy), RAK Ceramics (Arab
Emirates), Roca SanitarioS.A (Spain), The Siam Cement Public Company
Limited(Thailand)
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