New York , Jan. 18, 2024 (GLOBE NEWSWIRE) -- The global ceramic tiles market size is expected to expand at 7% CAGR from 2023 to 2033. The market is anticipated to garner a revenue of USD 250 billion by the end of 2033, up from a revenue of USD 100 billion in the year 2022. The growth of the market is primarily attributed to the rising construction activities around the world. Governments across various countries are highly investing in the construction sector which, in turn, is expected to bring lucrative growth opportunities in the market. According to the latest report, the total spending in the U.S. construction sector was totaled to be approximately USD 2 trillion in 2020.
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Rapid urbanization has increased the construction processes of office spaces, shopping malls, residential, industrial, and other utility spaces and is estimated to increase the demand for ceramic tiles across the globe during the forecast period. As a result, the employment rate has considerably grown in the past few days. A high level of employees hired in the construction sector is forecasted to increase the utilization of ceramic tiles for varied processes. As of 2021, there were almost 10 million construction workers in the United States, approximately 8% of the total working population. Continued innovation in design, technology, and sustainable practices is expected to shape the future of the ceramic tiles market. Increasing awareness of environmental sustainability has led to a demand for eco-friendly and recycled ceramic tiles, driving manufacturers to adopt sustainable practices.
Ceramic Tiles Market: Key Takeaways
- Market in North America to propel highest growth
- The residential segment to garner the highest growth
- Market in Asia Pacific to grow at the highest rate
Increasing Middle Income of Burgeoning Population across the Globe to Boost Market Growth
Along with the rapid multiplication of the population, the income level has also been increased consecutively. As a result, people have been adopting ceramic tiles for their infrastructures owing to their advantages such as aesthetic looks, stunning finishes, and increased durability. According to the World Bank, the total population with middle income in the world rose from 5.51 billion in 2015 to 5.86 billion in 2021. Technological advancements in tile manufacturing processes, including digital printing and inkjet technology, have expanded design possibilities and improved the overall quality of ceramic tiles. Ceramic tiles are known for their durability, resistance to wear and tear, and low maintenance requirements, making them a preferred choice for high-traffic areas. The Ceramic Tile Distributors Association (CTDA) notes that the durability and low maintenance of ceramic tiles are factors that contribute to their popularity in both residential and commercial applications. The ceramic tiles market is driven by factors such as construction and infrastructure development, rising urbanization, aesthetic appeal, durability, technological advancements, and a focus on environmental sustainability.
Ceramic Tiles Industry: Regional Overview
The global ceramic tiles market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Economic Factors and Consumer Spending to Drive the Market Growth in North America Region
The ceramic tiles market in the North American region is estimated to garner the largest revenue by the end of 2033. Economic factors, including GDP growth and consumer spending, influence the demand for ceramic tiles. A robust economy and increased consumer spending contribute to higher expenditures on construction and renovation projects. The U.S. Bureau of Economic Analysis reported a GDP growth rate of 2.2% in 2019, indicating a positive economic environment that supported various industries, including construction. Increasing awareness of environmental sustainability has led to a demand for eco-friendly and recycled ceramic tiles, aligning with green building practices. Technological advancements in ceramic tile manufacturing processes, including digital printing and precision cutting, have expanded design possibilities and improved the overall quality of ceramic tiles. Consumer preferences for aesthetically pleasing interiors and diverse design options drive the demand for ceramic tiles with innovative patterns, textures, and finishes.
Rapid Urbanization and Construction Boom to Propel the Growth in the Asia Pacific Region
The Asia Pacific ceramic tiles market is estimated to garner the highest CAGR by the end of 2033. The Asia Pacific region has experienced significant urbanization and a construction boom, driving demand for ceramic tiles in residential, commercial, and infrastructure projects. According to the United Nations, Asia is the most rapidly urbanizing region globally, with an urbanization rate of 49% in 2019, and is expected to reach 64% by 2050. This urbanization trend fuels construction activities. Population growth in Asia, particularly in countries like China and India, has led to increased housing demand, boosting the consumption of ceramic tiles for residential construction. Government-led infrastructure development initiatives, including the construction of roads, airports, and public spaces, contribute to the demand for ceramic tiles in the Asia Pacific region. Robust economic growth in many Asia Pacific countries results in increased consumer spending, leading to higher investments in home improvement and interior decoration, including the use of ceramic tiles.
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Ceramic Tiles Segmentation by End-user
- Residential
- Non-Residential
Amongst these segments, the residential segment is anticipated to hold the largest share over the forecast period. Population growth is a fundamental driver for residential construction. As the global population increases, the need for housing grows, driving the demand for ceramic tiles in residential applications. The United Nations estimates that the world population reached 7.9 billion in 2021, with projections indicating further growth. This sustained population increase contributes to housing demand. Homeownership remains a cultural and financial goal for many individuals and families. As homeownership trends persist, the demand for residential construction materials, including ceramic tiles, remains strong. Renovation and remodeling projects contribute significantly to the residential ceramic tiles market as homeowners seek to upgrade and personalize their living spaces. Economic stability and consumer confidence influence residential construction and renovation activities. During periods of economic growth, consumers are more likely to invest in their homes.
Ceramic Tiles Segmentation by Application
- Walls
- Flooring
- Others
Amongst these segments, the flooring segment is anticipated to hold a significant share over the forecast period. The construction and real estate development sectors play a crucial role in driving the demand for flooring materials, including ceramic tiles. As new buildings are constructed, there is a simultaneous need for durable and aesthetically pleasing flooring solutions. According to the World Bank, the global construction industry was valued at over USD 11 trillion in 2019, reflecting the substantial scale of construction activities worldwide. The residential housing market is a major driver for the flooring segment. The type of flooring used is a key consideration for homeowners, impacting both the visual appeal and functionality of their living spaces. Commercial and office spaces contribute to the demand for flooring materials, with an emphasis on durability, ease of maintenance, and aesthetic appeal. Ceramic tiles, known for their resilience, are often preferred in commercial settings. The hospitality and tourism industry, including hotels, resorts, and restaurants, has a substantial impact on the flooring segment. High-traffic areas require durable and visually appealing flooring options.
Ceramic Tiles Segmentation by Formulation
- Dry Pressed
- Extruded
- Casting
Ceramic Tiles Segmentation by Type
- New Installation
- Replacement
A few of the well-known market leaders in the global ceramic tiles market that are profiled by Research Nester are Crossville, Inc., AZIZI Developments, Mohawk Industries, Inc., Siam Cement Public Company Limited, GRUPO LAMOSA, Grupo Cedasa, RAK Ceramics PJSC, Vitromex USA, Inc., Kajaria Ceramics Limited, Cersanit S.A., and other key market players.
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Recent Development in the Market
- Crossville, Inc. has launched the Cursive porcelain wall tile collection. This unique product line is notable for its range of eclectic shapes and vibrant color offerings.
- AZIZI Developments along with RAK Ceramics is all set to supply floor and wall tiles for apartment and bathroom fittings for phase 3 of Riviera in MBR City.
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