Ceramic Tiles and Porcelain Stoneware Market Analysis
Ceramic tiles and porcelain stoneware are one of the basic building and finishing materials in the world. In 2017, the world market for ceramic tiles and porcelain stoneware increased by 4%, compared to the previous year and amounted to 13.2 billion sq. m.
From 2010-2017, world consumption of ceramic tiles and porcelain stoneware consistently increased against the backdrop of post-crisis recovery of the world economy and growth of construction in China; before that, the market fluctuated slightly, remaining fairly stable on the whole. As a result, the consumption of ceramic tiles and porcelain stoneware increased by 60% over the past ten years. The average annual growth rate from 2007 to 2017 was +4.9%.
China (6.1 billion sq. m.) dominated the consumption of ceramic tile and porcelain stoneware in 2017, accounting for 46% of the world market. China's leadership is due to high construction volumes amid strong economic growth and a large population. Other large consumer countries were India (793 million sq. m.), Brazil (644 million sq. m.), Vietnam (536 million sq. m.), Indonesia (407 million sq. m.), Iran (393 million sq. m.), the United States (268 million sq. m.), Turkey (250 million sq. m.), Mexico (205 million sq. m.) and Russia (198 million sq. m.), together covering 28% of the global market.
According to IndexBox forecasts, the global construction industry will grow at a steady pace over the next years, largely due to infrastructure investment projects (or investment in infrastructure), both in emerging markets and in some developed markets. It is expected that the world market for ceramic tiles and porcelain stoneware will maintain its current growth trend and will expand at an average annual rate of 3.9% from 2018-2025, which will lead the market to 18.0 billion sq. m. by 2025.
Edited from Index Box