Market Research Report
Asia Pacific Ceramic Tiles Market Forecast 2020-2028
|Published by||Inkwood Research||Product code||542479|
|Published||Content info||127 Pages
Delivery time: 2-3 business days
|Asia Pacific Ceramic Tiles Market Forecast 2020-2028|
|Published: February 21, 2020||Content info: 127 Pages||
Inkwood Research estimates that the Asia Pacific ceramic tiles market growth is set to be the fastest in terms of volume and revenue. The market is set to record a CAGR of 8.88% in terms of revenue and 8.26% in terms of volume during the forecast period, 2020-2028. The factors attributed to the market growth are increasing urbanization, growing economic prominence of China, India, and Southeast Asia, and increasing construction activities.
The assessment of the Asia Pacific ceramic tiles market growth includes the market analysis of Japan, China, South Korea, India, Thailand, Indonesia, Australia & New Zealand, Vietnam, and the rest of the Asia Pacific. The growth in urbanization in countries like China and the Philippines will result in an increased population, which will further lead to surging demands for utilities, and subsequently, to increased housing demands. This trend is estimated to be consistent over the forecast period, and is expected to boost the ceramic tiles market growth substantially in these regions. Moreover, China's market growth prospects are projected to be a key factor in the overall Asia Pacific region.
The ceramic industry of India boasts of diversity with several products like refractories, sanitary ware, advanced ceramics, and advanced ceramics. At the same time, the ceramic products come in varied types, sizes, and standards, be it small or large scale sectors. The increasing investments by the government have resulted in a thriving construction sector, along with other initiatives. The increasing consumer demands for upscale residential projects, supplemented by rising incomes, are set to result in increased demands for ceramic tiles, thereby propelling the market growth. The rising number of immigrants in countries like New Zealand and Australia are resulting in lucrative market growth opportunities for the residential construction sector, which, in turn, will impact the consumption of ceramic tiles over the forecast period.
The large presence of the companies makes the market highly fragmented. China Ceramics Co., Ltd., Centura Tile, Inc., Kajaria Ceramics Ltd., Blackstone Industrial (Foshan) Ltd., Crossville, Inc., Florida Tile, Inc., etc. make it to the list of prominent companies in the market.
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