United States, Rockville MD, Aug. 12, 2022 (GLOBE NEWSWIRE) -- The global ceramic tiles market is expected to reach a valuation of over US$ 300 Bn by 2031, with market growth asserted at 10% CAGR. Ceramic tiles are being increasingly used in numerous ways in commercial and residential infrastructure.
Global demand for ceramic tiles is reviving steadily from the impact of COVID-19, which severely affected the manufacturing and production of ceramic tiles due to closure of industries and unavailability of skilled labor. Revival of the construction industry as malls and workplaces reopen is expected to positively drive demand for ceramic tiles.
Ceramic floor tiles are projected to dominate global demand for ceramic tiles, accounting for more than 2/5 market share. Following behind is the walls ceramic tiles segment, expected to rise at a robust pace over the forecast period at a CAGR of 8.5%. In addition to their utilitarian benefits, they are also used for decorative purposes in hotel bars, kitchen counters, shower floors in bathrooms, garden pathways, and shop walls.
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Growing population and movement of people from villages to urban areas in search of jobs are projected to boost the housing sector, which, in turn, is expected to drive demand for ceramic tiles. Government initiatives of offering home loans at low interest rates to push development of industrial zones and rise in consumer inclination towards use of ceramic tiles for new infrastructural setup are also projected to positively influence market demand.
The global ceramic tiles market experienced significantly low sales during the COVID-19 pandemic as people were confined to their houses and restricted their expenditure to essential items. Unlike other sectors, the construction sector predominantly needs a physical workforce; unavailability of labor further deteriorated the situation. Even though economies are returning to normalcy, people are expected to continue spending a lot of time day indoors, and would be ready to splurge on home renovation. As a result, demand for ceramic tiles is expected to increase over the coming years.
Key Takeaways from Market Study
- Asia Pacific currently leads the global ceramic tiles market, securing a market share of over 60%.
- Increase in single family houses in Latin America is expected to drive demand for ceramic tiles at a CAGR OF 9.3%.
- The domestic sector captures a high share of the global market at 50.5%.
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Winning Strategy
Key players should focus on using advanced technology to offer differentiated products to stand out in the competition. This shall help businesses witness exponential growth in the ceramic tiles market in the long-term period. Manufacturers should focus on developing ceramic tiles with additional features that enhance visual appeal and utility to end users.
Key Players
- Ceramica Saloni
- China Ceramics
- Crossville Inc.
- Kajaria Ceramics
- Lamsoa Group
- Mohawk Industries
- R.A.K. Ceramics
- Siam Cement Group
- Ceramica Carmelo Fior
- STN Ceramica
Highly Fragmented Market Structure with Players Relying on Product Improvement
The global market for ceramic tiles is a highly fragmented space, with the presence of a large number of local and regional players. Tier-1 ceramic tile suppliers hold a market share of over 15%, accumulating a revenue of above US$ 16.8 Bn.
Players are concentrating on making ceramic tiles in a technically advanced and environmentally friendly way. Market leaders use innovative technologies to build products and to deliver alternative solutions.
For example, in Spain, Pamesa Ceramica SL manufactures dry-pressed ceramic tiles that have a high water absorption property, which will offer more strength and high density. The business offers reinterpretation of K-Slate, which has the same characteristics as porcelain stoneware, and is used to enhance indoor beauty.
Key Segments of Ceramic Tiles Industry Research
- Ceramic Tiles Market by Formulation
- Dry Pressed Ceramic Tiles
- Extruded Ceramic Tiles
- Casting Ceramic Tiles
- Ceramic Tiles Market by Application
- Ceramic Tiles for Walls
- Ceramic Tiles for Flooring
- Others
- Ceramic Tiles Market by End Use
- Ceramic Tiles for Residential Use
- Ceramic Tiles for Non-Residential Use
- Ceramic Tiles Market by Sales Type
- New Installation of Ceramic Tiles
- Replacement of Ceramic Tiles
- Ceramic Tiles Market by Region
- North America Ceramic Tiles Market
- Latin America Ceramic Tiles Market
- Europe Ceramic Tiles Market
- East Asia Ceramic Tiles Market
- South Asia Ceramic Tiles Market
- Oceania Ceramic Tiles Market
- Middle East Africa Ceramic Tiles Market
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Find More Valuable Insights
Fact.MR, in its new offering, provides an unbiased analysis of the global market for ceramic tiles, with historical data on demand (2016-2020) and expected projections for the period (2021-2031).
The market report discloses compelling insights into the demand for ceramic tiles based on application (walls, flooring, others), formulation (dry pressed, extruded, casting), end use (residential, non-residential), and sales type (new installation, replacement), across key regions of the world.
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