The increasing industrialization and urbanization in developing economies is projected to propel the growth of the ceramic tiles market during the forecast period.
The Global Ceramic Tiles Market was valued at USD 210.1 Bn in 2020 and is expected to reach USD 295.1 Bn by 2027, with a growing CAGR of 6.8% during the forecast period.
The shift in consumer preference towards replacing marble floors, paints, metal slabs and other home decor products with ceramic tiles is one of the key growth drivers. As the ceramic tiles can be customized as per consumer preferences,the demand for variety of ceramic tiles has increased considerabily. Ceramic tiles are available in various textures, designs, colours, sizes and shapes and are now used as an alternative to hardwood and other flooring products like concrete and marbles. Due to these properties, along with their anti-skid, lightweight and anti-bacterial properties, these tiles are commonly used in hotels, hospitals, pharmaceutical manufacturing facilities and laboratories.
The Demand for ceramic tiles is driven by the increasing construction sector throughout the regions. Commercial and residential construction is on an enlargement path in the majority of countries. The residential segment, which accounted for a larger market share, is recording extra transactions with both, new domestic construction , substitute and maintenance construction. Due to the continuing COVID-19 pandemic, the construction sector is going through numerous challenges, like the lack of investment, failure to complete the assignment on time, raw material shortage, lack of skilled labor, excessive operating costs, etc.
Based on the product type, the global ceramic tiles market can be segmented as glazed tiles, porcelain tiles, scratch-free tiles and other products. Among which, porcelain ceramic tiles holds the largest share in the ceramic tiles industry in the year 2020 and is expected to witness a high growth during the forecast period. Porcelain is a finer type of clay ceramic tile, which is made from a higher ratio of quartz and silica, and is fired or baked at a higher temperature, thus offering a better durability to the floors.
Based on the end-user, the ceramic tiles market is being segmented as residential and non-residential. The non-residential segment has accounted for the highest market share in 2020 and is expected to show a similar growth trend over the forecast period. Rising demand for highly durable and cost-efficient ceramic flooring for use in high-traffic commercial and industrial sectors is expected to drive the market over the forecast period.
The robust barrier to dust and water is predicted to fuel the stakeholders to capitalize on the underlying possibilities in this industry. However, governmental guidelines concerning the carbon emissions withinside the manufacturing of ceramic tiles CAN hamper the market growth.
Global Ceramic Tiles Market by Region Outlook (Revenue, USD Billion, 2021-2027)
In terms of geography, North America is another dominant region in the ceramic tiles market and is expected to show a significant growth during the forecast period, on account of the rising construction of non-residential and residential buildings in the region. In addition, presence of several renowned ceramic tile manufactures such as Dal-Tile Corp., Shaw Industries Group,Inc., Marazzi due to the availability of raw material and a high portion of the untapped market is positively driving the ceramic tiles market in this region.
Global Ceramic Tiles Market by Product Outlook (Revenue, USD Billion, 2021-2027)
Global Ceramic Tiles Market by Application Outlook (Revenue, USD Billion, 2021-2027)
Global Ceramic Tiles Market by Construction Type Outlook (Revenue, USD Billion, 2021-2027)
Global Ceramic Tiles Market by End User Outlook (Revenue, USD Billion, 2021-2027)
Company Profiles and Competitive Intelligence
The key players operating in the ceramic tiles market are: