Published: Oct, 2018
The global ceramic tiles market was valued at US$ 81.58 Bn in 2017 and is anticipated to expand at a CAGR of 9.7% from 2018 to 2026, according to a new report published by Transparency Market Research (TMR) titled ‘Ceramic Tiles Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.’ The market is driven by the rise in construction activities in Asia Pacific. Asia Pacific accounts for a major share of the global ceramic tiles market, due to increase in building and construction activities in the region.
Rise in construction activities in Asia Pacific to drive the market
The construction industry in Asia Pacific is anticipated to expand significantly during the forecast period. China has been accounting for a leading share of the construction industry in Asia Pacific over the last few years. Key factors driving the demand for ceramic tiles in the region include rise in the disposable income of consumers, growth of population, increase in government initiatives for infrastructure development, and collaborations with overseas investors. Rise in the number of new construction sites and increase in renovation activities are major drivers of the ceramic tiles market in Asia Pacific. Being resistant to stains, water, and chemicals; ceramic tiles are frequently used in the construction of residential and commercial buildings. The construction industry in China is likely to witness steady growth during the forecast period, led by rise in commercial construction activities in the country. The construction industry in India and countries of ASEAN is estimated to register a high growth rate during the forecast period, owing to rise in economic activities in these countries. Thus, a positive outlook for the construction industry in Asia Pacific is estimated to propel the ceramic tiles market in the region in the next few years.
Global flooring sector to offer attractive growth opportunities
Flooring is an integral part of the structure of residential and commercial buildings. Flooring holds significance in applications ranging from residential houses and commercial establishments (such as hospitals) to transportation infrastructure such as airports and railway stations. Carpets and rugs, tiles, wood, and laminates are some of the key products used in the flooring sector. Tiles, especially ceramic tiles, is one of the widely used products in flooring applications. Growth of the global flooring sector is projected to augment the consumption of ceramic tiles worldwide during the forecast period. The flooring sector in regions such as North America and Europe is expected to witness steady growth in the near future, owing to stringent governmental regulations and saturation of the construction industry in these regions. Countries in Asia Pacific are estimated to account for a leading share of the global flooring sector, led by growth of the economy, easy availability of resources, and wide industrial base in these countries. These factors, in turn, are anticipated to drive the demand for ceramic tiles in Asia Pacific during the forecast period. Emerging nature of the flooring sector in Latin America and Middle East & Africa is also likely to boost the consumption of ceramic tiles in these regions during the forecast period.
CO2 emissions during ceramic tile production to hamper the ceramic tiles market
Various processes are employed during the production of ceramic products such as tiles and sanitary ware. Processing of raw materials such as clay and silica sand results in dust formation and emission of particulate matter and greenhouse gases. Particulate matter and greenhouse gases are emitted primarily during drying, firing, and machining operations during the manufacture of ceramic tiles. Emission of carbon dioxide during the manufacture of ceramic tiles is anticipated to hamper the ceramic tiles market between 2018 and 2026. Thus, sluggish decline in the emission of harmful gases and rise in industrialization in developing countries are estimated to be key restraints of the global ceramic tiles market in the next few years.
Asia Pacific dominates the global ceramic tiles market
Among regions, Asia Pacific held a major i.e. 68.1% share of the global ceramic tiles market in 2017 and its share is anticipated to increase during the forecast period, owing to surge in the demand for ceramic tiles from China, India, and ASEAN. Asia Pacific is followed by Europe. Demand for ceramic tiles in Europe is increasing and the market in the region is likely to offer lucrative opportunities to ceramic tile manufacturers in the near future. This is attributable to increase in construction activities in the region. North America accounted for 2.5% share of the global ceramic tiles market in 2017 and its share is anticipated to decrease slightly to 2.3% by the end of the forecast period. This decline in the market share is attributable to rising preference for substitutes such as wood and glass in the region.
High degree of competition among established players
A large number of small- and large-scale manufacturers operate in the global ceramic tiles market. These companies offer different types of ceramic tiles for various applications. Key players profiled in the report on the global ceramic tiles market are Mohawk Industries, Inc., Siam Cement Group, Ras Al Khaimah (RAK) Ceramics, Grupo Lamosa, Kajaria Ceramics, China Ceramics Co. Ltd., LASSELSBERGER GmbH, Panariagroup Industrie Ceramiche S.p.A., Gruppo Concorde S.p.A., Johnson Tiles, and Kale Group. A large number of ceramic tile products are available for different end-user industries. Market players are adopting strategies such as pricing and product improvement to increase their profit margins and strengthen their market position.
The global ceramic tiles market has been segmented as follows:
Global Ceramic Tiles Market, by Product
- Floor Tiles
- Wall Tiles
- Others (Ceiling Tiles, Roofing Tiles, Countertop Tiles, etc.)
Global Ceramic Tiles Market, by Application
- Residential Replacement
- New Residential
Global Ceramic Tiles Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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