Newark, Aug. 15, 2023 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global ceramic tiles market is expected to grow from USD 283.57 Billion in 2022 to USD 524.36 Billion by 2032, at a CAGR of 6.34% during the forecast period 2023-2032.
Ceramic tiles are made of ceramic using many mechanical processes, generally heating and instant cooling. These tiles are inorganic. This market is growing because of a population surge, disposable income, renovation and remodelling activities, and more investment in the residential and commercial sectors. During the time of the COVID-19 pandemic, manufacturing activities were halted all across the world in several sectors which, include ceramic tiles too.
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Competitive Strategy
To enhance their market position in the global ceramic tiles market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
• In September 2022: Kajaria Ceramics acquired a 51% stake in South Asian Ceramic Tiles. It has made South Asian Ceramic Tiles a subsidiary of Kajaria Ceramics. This acquisition helps set the organization's foothold in South India, which helps the organization expand the tiles market and gain more customers.
Market Growth & Trends
The surge in the construction and infrastructure sector majorly drives ceramic tiles demand. The construction sector is substantially growing in emerging economies such as China, India, Brazil and South Asian Countries. Urbanization and industrialization have increased the demand for commercial and residential buildings in emerging economies. Also, advancement in technology in the manufacturing of ceramic tiles and the presence of abundant raw materials is contributing to the growth of the ceramic tiles market. In the middle east ceramic tiles are growing due to new construction activities in housing, urbanization, infrastructure and hospitality and, more importantly, an increase in high-net-worth individuals (HNI). Also, there is a demand for quality and cost-effective products propelling the market's growth. In North America, ceramic tiles are also growing as they are broadly used as flooring material and are water resistant. It is broadly used in places such as hotels, laboratories, hospitals and many industries. India is also showing significant growth because of its booming real estate sector and the growing disposable income of consumers. Consumers are now becoming style conscious, which has led to a surge in the consumption of several ceramic tiles. Ceramic tiles demand is growing because of their visually appealing characteristics and also due to their sustainability and durability characteristics; it is broadly preferred by renovators, homeowners and interior designers. These features also increase their use in constructing offices, hotels, shopping centres, universities, restaurants, etc.
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Key Findings
• In 2022, the porcelain tiles segment dominated the market with the largest market share of 51.66% and market revenue of USD 146.49 Billion.
The product segment is divided into porcelain tiles, glazed ceramic tiles and unglazed ceramic tiles. In 2022, the porcelain tiles segment dominated the market with the largest market share of 51.66% and market revenue of USD 146.49 Billion. It is a better choice for the surface, which generally have lots of traffic, such as kitchen floors and countertops.
• In 2022, the floor tiles segment dominated the market with the largest market share of 57.14% and market revenue of USD 162.03 Billion.
The application segment is divided into floor tiles, wall tiles and others. In 2022, the floor tiles segment dominated the market with the largest market share of 57.14% and market revenue of USD 162.03 Billion. This factor is due to the growing demand from commercial construction such as shopping malls, restaurants and hotels, as it offers superior aesthetics.
• In 2022, the commercial segment dominated the market with the largest market share of 53.45% and market revenue of USD 151.57 Billion.
The end-user segment is divided into residential and commercial. In 2022, the commercial segment dominated the market with the largest market share of 53.45% and market revenue of USD 151.57 Billion. Ceramic tiles help in adorning the places like malls, restaurants, hotels and hospitals, among other public places. It helps uplift the look of the place, and hence it is broadly used in commercial buildings.
Regional Segment Analysis of the Ceramic Tiles Market:
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
The Asia Pacific region occurred as the largest market for the global ceramic tiles industry, with a market share of 44.78% and a market value of around USD 126.98 Billion in 2022. This region is observing fast growth and investment in construction and renovation projects. Also, there is rapid urbanization happening in the region. There is an expansion of the metro cities, and there is a huge migration of people from villages to major cities. In India, some of the initiatives by the governments, like Make in India, Sanitation Schemes, and Housing for All, are eventually driving the ceramic tiles market.
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Key players operating in the global ceramic tiles market are:
• Crossville Inc.
• Porcelanosa Group
• Ricchetti Group
• RAK Ceramics
• Cerámica Saloni, Florida Tile, Inc.
• Kajaria Ceramics Limited
• Mohawk Industries, Inc.
• Guangdong Monalisa Industry Co., Ltd.
• Florim Ceramiche S.p.A.
• China Ceramics Co., Ltd.
• ATLAS CONCORDE S.P.A.
• Guangdong Newpearl Ceramics Group Co., Ltd.
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global ceramic tiles market based on below mentioned segments:
Global Ceramic Tiles Market by Product:
• Porcelain Tiles
• Glazed Ceramic Tiles
• Unglazed Ceramic Tiles
Global Ceramic Tiles Market by Application:
• Floor Tiles
• Wall Tiles
• Others
Global Ceramic Tiles Market by End User:
• Residential
• Commercial
About the report:
The global ceramic tiles market is analysed based on value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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