Market Research Report
North America Ceramic Tiles Market Forecast 2020-2028
|Published by||Inkwood Research||Product code||542481|
|Published||Content info||113 Pages
Delivery time: 2-3 business days
|North America Ceramic Tiles Market Forecast 2020-2028|
|Published: February 21, 2020||Content info: 113 Pages||
The North America ceramic tiles market is estimated to garner considerable revenue and record a CAGR of 6.50% in terms of revenue. In terms of volume, a CAGR of 6.12% is estimated to showcase, during the forecast period, 2020-2028. The growth rate is attributed to factors like favorable government initiatives, increasing investment by market players, and growing demand from residential and commercial construction sectors due to the upgradation of buildings and structures. Many key market players are keen on establishing their manufacturing facilities in the region.
The evaluation of the North America ceramic tiles market growth prospects involves the market analysis of Canada and the United States. The construction industry of Canada is the second-largest in the North American region. It also adds to the country's economic strength. The residential and commercial construction sectors are flourishing as a result of immigration and government initiatives. The Canada Mortgage and Housing Corporation (CMHC) announced financial help of a considerable amount, as an aid for first-time buyers during 2019-2022. In 2017, Toronto and Montreal were the epicenters of construction activity and accounted for 25% of the total construction activity in 2017. Several government projects are further estimated to supplement the growth of the construction sector.
In the United States, many new activities and opportunities like the development of water emitting diodes (WEDS) for resource management are projected to influence the ceramic tiles market growth during the forecast period. Also, the residential replacement in the ceramic tiles application segment is estimated to dominate during the forecast period. The shifting consumer preferences, rising awareness in terms of ceramic tiles lifespan, and the rising demand for infrastructure upgradation, are further set to result in increased demands for ceramic tiles.
Some of the prominent companies operating in the market and benefiting the revenue growth are Crossville, Inc., Mohawk Industries, Inc., Florida Tile, Inc., Nitco Ltd., etc.
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