Global Ceramic Tiles Market Set for Rapid Growth, To Reach Around USD 120.0 Billion by 2020
Deerfield Beach, FL -- (SBWIRE) -- 05/26/2017 -- According to the report, the global demand for ceramic tiles market was valued at around USD 72.0 billion in 2014 and is expected to reach around 120.0 billion in 2020, growing at a CAGR of slightly above 9.0% between 2015 and 2020. In terms of volume, the global ceramic tiles market stood at 13.0 billion square meters in 2014. Some of the key industry participants in global ceramic tiles market include Porcelanosa Groupo, Saloni Ceramica, Mohawk Industries, China Ceramics Co. Ltd, RAK Ceramics, Kajaria Ceramics, Crossville Inc., Ceramiche Ricchetti, Atlas Concorde, and Florida Tile.
Zion Market Research has published a new report titled "Ceramic Tiles (Floor Tiles, Wall Tiles, and Other Tiles) Market for Residential Replacement, Commercial, New Residential and Other (Countertops, Facades, etc.) Applications: Global industry Perspective, Comprehensive Analysis, and Forecast, 2014 –2020".
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Ceramic exhibit various chemical and physical properties such as strength and brittleness but are weak in tension and shearing. Owing to these properties ceramics can withstand unkind environments such as high temperatures, acidic materials, etc. Owing to these differentiating attributes of ceramics, they find host of applications in various industries such as floor tiles, pipes, bricks, cookware, tableware, sanitary ware, pottery products, gas and fire radiants, kiln linings, glass and steel crucibles, knife blades, disc brakes in vehicles, watch cases, and biomedical implants. Basically, ceramic tiles area mixture of clays and other natural materials such as sand, quartz, and water. Ceramic tiles are primarily used in suburban, restaurants, offices, malls and resorts as bathroom walls and kitchen floors and in much more areas. Ceramic tiles are perfect for interior floors, walls, tub surrounds, and baths. Ceramic tiles are easy to fit, easy to clean, easy to maintain and most importantly they are available at reasonable price.
The demand for ceramic tiles is primarily driven by the growing construction and infrastructure industry. Strong growth of construction industry in emerging economies such as India, China, Brazil and South Asian countries is expected to fuel the growth of ceramic tiles market in the near future. Increasing industrialization and urbanization has resulted in growing demand for commercial as well as residential buildings in the emerging economies. Technological advancement in the manufacturing of ceramic tiles and availability of abundant raw materials is also contributed to the growth of ceramic tiles market.
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Floor tiles, wall tiles, and others are the key product segment of ceramic tiles market. Floors tile was the largest product segment of ceramic tiles market and accounted for over 50.0% share of the total volume consumption in 2014. Floor tiles market is also expected to be the fastest growing product segment in terms of volume as well as revenue throughout the forecast period. Wall tile was the second leading segment in the global ceramic tiles market. Other products segment (including tabletops, facades, countertops, etc.) is also expected to exhibit significant growth in the years to come.
Ceramic tiles are widely used in the host of application in different industries such as residential replacement, commercial, new residential, others (facades, countertops etc.). The residential replacement was the largest application market for Ceramic tiles market in 2014. It accounted for over 45% share of the total volume consumed in 2014. Demand for ceramic tiles used for the residential replacement has increased owing its potential to be used as a substitute for paints, and other products. The new residential segment is expected to grow at a rapid pace in the years to come.
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Asia-Pacific was the largest market for ceramic tiles in 2014 with over 50% share in total volume consumption. Europe was the second largest market followed by Latin America, Middle East Asia & Africa, and North America respectively. China, India, and Brazil are major driving factors for the growth of global ceramic tiles market.
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