Albany, NY -- (SBWIRE) -- 04/30/2014 -- Ceramic Tiles Market was valued at USD 55.79 billion in 2011 and is expected to reach USD 102.79 billion by 2018, growing at a CAGR of 9.2% from 2012 to 2018. In terms of volume, demand for ceramic tiles was 10,370.0 million square meters in 2011 and is expected to reach 18,154.1 million square meters by 2018, growing at a CAGR of 8.4% from 2012 to 2018.
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Demand for ceramic tiles has been driven by the growing construction and infrastructure industry, mainly in emerging economies of Asia Pacific such as China, India and Indonesia. Shift towards replacing paints, metal slabs, marble floors, and other home decorative products with ceramic tiles is also expected to boost the market over the forecast period. However, volatility in raw material prices and regulatory issues to address growing environmental concerns are acting as major factors contributing towards the increasing production costs of ceramic tiles. Increasing production cost is expected to hinder the market growth over the next five years.
Floor tiles emerged as the leading type of ceramic tiles used globally and accounted for over 50% of the total market in 2011. Floor tiles are also expected to be the fastest growing ceramic tiles at an estimated CAGR of 9.4% from 2012 to 2018. Wall tiles, the second largest market are expected to lose market share to floor tiles by 2018.
Ceramic tiles are majorly consumed in residential replacement market globally. Residential replacement accounted for approximately 54% of the total market in 2011. Along with the biggest market, residential replacement is also expected to be the fastest growing market for ceramic tiles at an estimated CAGR of 8.6% from 2012 to 2018. Commercial application of ceramic tiles followed residential replacement and has a share of over 30% of the market in 2011.
Asia Pacific continued its dominance in the global market and accounted for over 65% of the total market in 2011. Increasing constructional activities in China and India is expected to further boost the market share of the region over the next five years. Asia Pacific is also expected to be the fastest growing market for ceramic tiles at an estimated CAGR of 8.8% from 2012 to 2018. Asia Pacific was followed by Europe and Latin America which together accounted for over 20% of the total market in 2011.
Some of the major companies operating in the global market include Atlas Concorde, China Ceramics Co. Ltd, Crossville Inc., Florida Tile, Gruppo Ceramiche Ricchetti, Kajaria Ceramics, Mohawk Industries, Porcelanosa Grupo, RAK Ceramics and Saloni Ceramica among others.
The report segments the global ceramic tiles market as;
Ceramic Tiles Market: Product Segment Analysis
- Floor Tiles
- Wall Tiles
- Other (including Façade and Countertop, etc.)
Ceramic Tiles Market: Application Analysis
- Residential Replacement
- New Residential
Ceramic Tiles Market: Regional Analysis
- North America
- Asia Pacific
- Latin America
- Rest of the World
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