According to the new research report published by The Insight Partners, titled “Ceramic Tiles Market - Global Analysis and Forecast to 2025”, The global ceramic tiles market is expected to grow at a CAGR of 5.5% during the forecast period 2018 – 2025, to account to US$122.59 Bn by 2025.
In 2017, Asia Pacific accounted for the largest revenue share in the ceramic tiles market. The global construction sector in terms of residential and commercial sectors have witnessed immense growth in Asian countries namely; China and India in the last few years. Attributing to the constantly rising population in the Asia Pacific countries, the region is experiencing a substantial demand for residential spaces, and commercial areas such as shopping malls, retail stores, hotels, hospitals, airports and railway stations among others. Pertaining to the surge in demand for the commercial sector and residential sector, the manufacturers of ceramic tiles in the region are remarkably increasing the production line, thereby, facilitating in higher adoption.
Countries in Asia Pacific region have significantly invested in construction industry, and are still continuing the trend which is catalyzing the infrastructure construction over the years. For instance, Philippines government has invested US$ 144 Billion in 2016, with an aim to expand the commercial, residential and energy sectors of the country. Similarly, Indonesian government is also increasing the investments, which is facilitating the commercial, residential and energy infrastructure to climb year on year. The increasing focus towards enhancing construction of commercial buildings and residential spaces in APAC region is helping ceramic tiles manufacturers to increase their production, which has proliferated the demand for ceramic tiles in the region. Furthermore, countries in Middle East and Africa namely; UAE, Tanzania, and Kenya are showcasing substantial growth in commercial and residential infrastructure growth since the last few years, thereby, has created a potential market for ceramic tiles, and this factor is driving the market in the present scenario. Hence, the upward trend in commercial and residential infrastructure construction is heavily driving the market for ceramic tiles in the recent years.
Key findings of the study:
The prominent companies operating in the field of ceramic tiles across the globe include Mohawk Industries, China Ceramics Co. Ltd., Florida Tile Inc., Grupo Lamosa, S.A.B. DE C.V., Gruppo Ceramiche Ricchetti S.P.A., Kajaria Ceramics Ltd., Porcelanosa Grupo A.I.E., PT. Muliakeramik Indahraya, RAK Ceramics, and The Siam Cement Public Co. Ltd. among others. Various other companies are also operating in the market and are coming up with new offerings which is helping the market for ceramic tiles to expand over the years in terms of revenue and adoption.
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