Westford, Jan. 10, 2023 (GLOBE NEWSWIRE) -- A continuously growing population, increasing disposable income, rise in renovation activities, and significant investments in residential and commercial construction sites are some of the most prominent factors positively influencing the growth of the ceramic tiles market. In addition, ceramic tiles are durable and long-lasting and are preferred favorably since they have little impact on the environment, making them environmentally friendly. Therefore, they are becoming famous for wall and floor applications. Furthermore, advances in manufacturing technology have permitted the manufacture of tiles with larger dimensions, which has benefited the market's overall growth.
According to SkyQuest's market insights, global tile production reached 18,339 million sqm in 2021-22, up 7.2% from the 17,101 million sqm recorded in 2020. The result indicates a robust growth in tile demand across all geographical areas, bringing global tile consumption to 18,209 million sqm (+6.8%).
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Increasing Count of the Global Population Offer Huge Sales for Ceramic Tiles
The regional market of Asia Pacific accounts for a significant portion of the worldwide market owing to fast infrastructure development in India, China, Indonesia, and Vietnam. As per SkyQuest's projection, the region's growing population and construction sector are predicted to drive ceramic tiles demand value to reach US$105 billion by 2032. High product demand from the residential and non-residential building categories is expected to support market expansion in Asia Pacific's emerging economies, particularly China and India. In 2021, the United States consumed 3.11 billion square feet of ceramic tile. Ceramic tile sales and consumption are inextricably tied to the residential new home market. Ceramic tiles are famous for floor tiles due to their broad number of options, low cost, and ease of upkeep.
The ceramic tiles market research report comprehensively assesses the industry for the forecast period. The information includes several divisions and an analysis of the trends and aspects likely to play a crucial role in the industry. In addition, the Year on Year Growth (%) and compound annual growth rate (CAGR) for the specified projected period are provided based on several indicators.
Glazed Ceramic Tiles Emerge as the Most Lucrative Segment in the Product Category
Glazed ceramic tile is a popular category, with a demand of USD 97.48 billion recorded in 2021 and expected to grow at a CAGR of 5.8% from 2022 to 2030. With the inclusion of a protective layer of glass, these tiles are extremely stain resistant. Furthermore, the protective layer on the glazed ceramic tiles makes them highly water-resistant, improving their utility in humid environments. Moreover, the product's chemical and stain resistance is predicted to raise demand for the tiles mentioned above due to rising use in retail malls, hotels, institutional buildings, and others.
SkyQuest’s research report on ceramic tiles market provides in-depth statistics and information on major market dynamics and growth parameters linked to key market segments and sub-segments. The market analysis report also contains in-depth information on emerging trends and obstacles that will significantly impact market growth. The practical insights on trends and issues will assist businesses in evaluating and developing growth plans. Understanding the value chain from beginning to end is critical for optimizing profit margins and evaluating business strategy. During the forecast period, the data accessible in our value chain analysis segment can assist suppliers in driving costs and improving customer service.
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Start-Ups Offering Unique Textures & Budgetary Tiling Solutions to Fuel Product Demand
As the construction sector expands and renovating activities develop in various regions of the world, rising entrepreneurs are taking a stand by bringing novel ideas and products to offer better solutions to customers. For instance, Pamesa Ceramica SL is a manufacturer of dry-pressed ceramic tiles with a high water absorption property that provides more strength and density. In addition, the company offers a reinterpretation of K-Slate, which has the same properties as porcelain stoneware and is intended to enhance indoor aesthetics.
Extensive analysis of the rising market is carried out by closely monitoring key product positioning and top rivals within the market framework. This research profiles the top competitors in the growing ceramic tiles market and thoroughly analyses their strategies, assisting in understanding the competitive landscape of the rising ceramic tiles industry. The market report also includes case studies of key industry participants who have recently produced more significant revenues in a short period of time.
Key Advancements in Ceramic Tiles Market
- Mainboard-listed Hafary Holdings, a supplier of high-quality tiles and other fittings, has expanded its activities to include manufacturing capabilities. The group will lease two manufacturing sites from Hap Seng Group in Johor, Malaysia, under the J.V. To expand on their core competencies, Hafary intends to invest roughly 40 million ringgit ($12.3 million) to increase the plant's production capacity from 16,000 to 41,000 square meters per day.
- Kajaria Ceramics has formed a joint venture with a wholly owned subsidiary of the firm, Kajaria International DMCC, U.A.E., and Al Rathath Marble Factory L.L.C., U.A.E. The agreement aims to operate the business of glazed vitrified tiles, sanitary ware/bath ware goods, marbles, granites, natural stones, and allied products in the United Arab Emirates.
- Al Maha Ceramics SAOG, a leading Omani ceramic tile maker, has announced the acquisition of a 45 percent share in Al Hael Ceramics Company L.L.C. As part of the purchase, Al Maha will operate Al Hael for five years, with the option to extend for another five years, allowing Al Hael to benefit from Al Maha's significant experience in tile production and sales.
- AURELIUS has announced the purchase of Ceramic Tile Distributors ("CTD") by parent company Saint-Gobain in a carve-out transaction. In addition, AURELIUS sees prospects for new trade counter and branch openings in strategic locations around the U.K. to boost revenue and profit growth.
According to SkyQuest's market research, players in the ceramic tiles market can establish a comprehensive portfolio by experimenting with textures, shapes, and designs within their existing production spectrum. In addition, manufacturing capacity, brand awareness, product offerings, and imaginative strategic collaborations and acquisitions establish key players' supremacy. The market report provides in-depth coverage of all key developments that impact market dynamics, either directly or indirectly.
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Promising Players in the Ceramic Tiles Market
- Ceramica Saloni
- Crossville Inc.
- China Ceramics
- Lamsoa Group
- Kajaria Ceramics
- R.A.K. Ceramics
- Mohawk Industries
- Ceramica Carmelo Fior
- Siam Cement Group
- STN Ceramica
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