Market Research Report
Global Ceramic Tiles Market Forecast 2020-2028
|Published by||Inkwood Research||Product code||542482|
|Published||Content info||190 Pages
Delivery time: 2-3 business days
|Global Ceramic Tiles Market Forecast 2020-2028|
|Published: February 21, 2020||Content info: 190 Pages||
The global ceramic tiles market is estimated to garner considerable revenue and volume by the end of the forecast period (2020-2028), registering a CAGR of 8.05% in terms of revenue and 7.52% in terms of volume. The factors attributed to such growth rate are the thriving residential construction & flooring market, increasing availability of abundant raw materials, and infrastructure development, along with favorable government policies.
Ceramic tiles are one of the most sought flooring choices in building & construction industries across the globe. They are made from feldspar, kaolin, sand, glass, and bentonite, all of which makes ceramic tiles envronemt0friendly, cost-effective, and easy to clean. The ceramic tiles have become an indispensable part of home improvement since it plays an essential role in deciding the outdoor and interior look. The thriving housing sector supplemented by favorable government policies propels the global ceramic tiles market growth further. The construction industry, too, is a major factor boosting the growth of the overall market, specifically in countries like the United States, where it is the major contributor to the economy. With a revenue share of 34.08%, the residential replacement category dominates the end-use segment. The new residential category in the end-use segment is anticipated to record the highest CAGR. The market growth is hampered by certain challenges. The fluctuating raw material prices increase the production cost, thereby reducing the profit margin for the ceramic tile companies. The large presence of companies makes the ceramic tiles market fragmented. The cost effective manufacturing and development of new products are estimated to be the essential success factors for market players.
The geographical segmentation of the global ceramic tiles market includes North America, Europe, Asia Pacific, and the rest of the world. The Asia Pacific region. According to Inkwood Research, the Asia Pacific region is set to flourish during the forecast period, recording the highest CAGR both in terms of volume and revenue. Such a growth rate is credited to the growing construction activities, economic prominence, and urbanization, in the market region. The key market players are shifting their production centers to the Asia Pacific region.
The large presence of the companies benefits the revenue growth of the market. Some of the eminent market players include Atlas Concorde S.P.A., Centura Tile, Inc., Blackstone Industrial (Foshan) Ltd., Crossville, Inc., China Ceramics Co., Ltd., etc.
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