Global Ceramic Tiles Market
It is anticipated that growth in ceramic tiles market could vary in co-relation with the construction industry. Increasing residential construction requires indoor and outdoor wall covering with ceramic tiles. Rising population will significantly boost construction needs, in turn increasing demand for ceramic tiles. Furthermore, increasing commercial construction is expected to drive the global ceramic tiles market. Increasing construction in Middle East countries is expected to upsurge demand for ceramic tiles. Asia Pacific is anticipated to dominate the global ceramic tiles market owning to positive outlook for construction industry in major markets such as India, China, Australia and New Zealand.
Market insights suggests that the overall width of the global ceramic tiles market will increase during the forecast period. Several optimistic changes are expected to surge the growth of the market. The market is anticipated to grow at a robust CAGR of 8.9% throughout the period of forecast to reach a market estimation of about US$ 167 Bn by the end of the assessment year.
Segmental & Regional Analysis
By end use type, the residential segment will play a pivotal role in increasing the market revenue. This end use segment is anticipated to occupy a major share of the global ceramic tiles market. Moreover, the report mentions that the residential segment will account for a value share of almost 61.5% in the global ceramic tiles market. The segment will grow at a value CAGR of 10.0% during the forecast period. In the formulation type segment dry-pressed sub-segment will mint a significant revenue within the forecast period. In the current market scenario, dry-pressed will represent a higher market share in terms of value and volume in the global ceramic tiles market. In the next five years, the market will shift towards ecofriendly ceramic tiles.
North America is anticipated to hold minimal market share in terms of revenue in the global ceramic tiles market. The region has been projected to represent 3.4% of the market value share by 2025. Asia pacific region is anticipated to a share of more than 63.6% in 2017 and further the market will expand at a CAGR of 9.3% during the forecast period. The sales revenue of the Middle East & Africa will pump up to US$ 9,007.0 Mn by the end of 2025 with a CAGR of 8.2%. The market in the Asia Pacific will remain luxuriant and pulsating during the forecast period.
FROM MARKET REPORTS