Market Research Report
Ceramic Tiles Market by Application (Floor, Wall, and Roof), Construction Type (New Construction, and Renovation & Replacement), End-use Sector (Residential, and Non-residential), and Region (North America, Europe, APAC) - Global Forecast to 2023
|Published by||MarketsandMarkets||Product code||648564|
|Published||Content info||121 Pages
|Ceramic Tiles Market by Application (Floor, Wall, and Roof), Construction Type (New Construction, and Renovation & Replacement), End-use Sector (Residential, and Non-residential), and Region (North America, Europe, APAC) - Global Forecast to 2023|
|Published: June 1, 2018||Content info: 121 Pages||
The ceramic tiles market is estimated at USD 227.89 billion in 2018 and is projected to reach USD 320.07 billion by 2023, at a CAGR of 7.03%. The rise in the number of new constructions, coupled with the rise in population & rapid urbanization drives the demand for ceramic tiles. The cost-effectiveness, resistance to stains and water, and environment-friendly properties of ceramic tiles contribute toward the growth of the market. Furthermore, the integration of new technologies in ceramic tiles such as digital printing has boosted their popularity in the construction industry. However, volatility in the prices of the raw materials may restrain the growth of the ceramic tiles market.
New construction led the ceramic tiles market in 2017 in terms of both value and volume, and this trend is projected to continue through 2023. The factors contributing to the growth of ceramic tiles in new constructions include the cost-effectiveness and the aesthetic appeal of these tiles and growing trend toward interior decoration. Furthermore, installation of ceramic tiles in new constructions not only guarantee lesser energy consumption but also eliminate the need for frequent tile replacement.
Based on the end-use sector, the ceramic tiles market has been segmented into residential and non-residential. The residential segment dominated the ceramic tiles market in 2017. The use of diversified ceramic tiles in residential buildings enhances aesthetic appeal and provides comfort. Housing renovation and maintenance activities have increased steadily in the recent past and are expected to further increase in the coming years owing to the increasing disposable income of the population, which subsequently drives the demand for ceramic tiles in the residential sector.
The Asia Pacific ceramic tiles market is projected to grow at the highest CAGR between 2018 and 2023. Factors such as the increasing number of new housing units, huge investments in the infrastructural sector, and rapid industrialization drive the ceramic tiles market in the region. The markets in China and India are projected to be lucrative due to the growth of the construction industry in these countries.
Note: RoW includes the Middle East & Africa and South America.
The key players profiled in the report are as follows:
The primary objective of this study is to define, forecast, and segment the ceramic tiles market on the basis of application about the key market dynamics which include drivers, restraints, opportunities, and industry-specific challenges. In addition, the study analyzes competitive developments such as new product launches, mergers & acquisitions, expansions, and partnerships in the ceramic tiles market.
The report will help market leaders/new entrants in this market in the following ways:
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View might not be captured in case of unlisted companies.