Ceramic Tiles Market demand to cross $185bn by 2025
The Ceramic tiles market is highly fragmented with only 5-7 major companies holding less than 20% of industry share, players mentioned in the report are Mohawk Industries, Florida Tile, Inc., Ras Al Khaimah Ceramics, Saloni Ceramics, Porcelanosa Grupo, Siam Cement Group, Kajaria Ceramics, Grupo Lamosa SAB de CV, Gruppo Ceramiche Ricchetti S.p.A., China Ceramics Co., Ltd., Crossville, Inc. and Ceramiche Atlas Concorde S.p.A.
Ceramic Tiles Market revenue is slated to surpass US$185 billion by 2025; according to a growth statistics analysis by Global Market Insights, Inc. Worldwide ceramic tiles market will be primarily driven by rapidly growing construction industry across Middle East and Asia Pacific. New residential as well as public infrastructure projects in these regions will be attracting a huge capital from key financial players and nations, which in turn, will be positively influencing ceramic tiles market size during the forecast timeframe.
The processing of ceramic tiles emits hazardous gases along with enormous amount of carbon dioxide in the atmosphere, which has become a matter of concern for various environmental organizations and countries. Emission of carbon dioxide Asia Pacific shall reach nearly 17,000 tons by 2025 due to existent lenient policies. Thus, in a responsive act, many countries, especially in Europe and the U.S. has put governmental regulations in extraction of feldspar and kaolin (prime components of ceramic tiles) and processing of them for product manufacturing. These regulations are likely to obstruct a smooth growth for ceramic tiles market over the forecast period.
Wall tiles are available in various colours and sunlight resistant. This helps in retaining their colour without fading for a longer time period. The colour retention property makes them suitable for wall tiles. Ceramic wall tiles are commonly used in kitchens, as it is easy to clean and increases the kitchen decor. Rising awareness about wall tiles for house decoration is likely to boost the demand for ceramic tiles during the forecast timespan.
The other segment in ceramic tiles business includes ceiling tiles, roofing tiles and countertop tiles. Ceramic ceiling tiles are widely employed in bathrooms. Usage of ceramic tiles on shower ceiling is an ongoing trend, which is likely to continue during the forecast timeframe. The product usage as roofing tiles helps in preventing the rainwater from seeping into the house.
The commercial end-user segment of ceramic tiles market includes product usage in offices, hotels, hospitals and sports complexes. It provides aesthetic to walls and floor. Rising product demand in commercial buildings such as malls is likely to boost the global ceramic tiles market in the near future.
Asia Pacific is likely to witness an increase in market share by 2025. Increasing construction spending in India, South Korea and Japan is likely to accelerate ceramic tiles market size growth over the next few years. Shift in preference for ceramic tiles over metal slabs, marble floors, replacing paints and other home decorative products shall be positively influencing regional product demand from 2018 to 2025.
The companies operational in this industry includes giants such as Porcelanosa Grupo, Mohawk Industries, Ceramiche Atlas Concorde, Ras Al Khaimah Ceramics and Grupo Lamosa. The industry has abundance of small and medium sized manufacturing companies which have a strong local connect and a loyal customer base. Multinational players have an extensive distribution network and mostly cater to commercial applications. Major market share contributors in this industry adopt production expansion strategy to cater to growing demand.
From Global Market Insight