New York, NY, May 09, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Ceramic Tiles Market by Type (Floor Tiles, Wall Tiles and Other Tiles) for Residential Replacement, Commercial, New Residential and Other Applications by Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017-2023”. According to the report, the global ceramic tiles market accounted for USD 91.17 billion in 2017 and is expected to reach USD 155.31 billion by 2023, growing at a CAGR of around 9.3% between 2018 and 2023.
The global ceramic tiles market is expected to witness significant growth over the forecast period on account of increasing demand from the construction industry. Ceramic tiles are inorganic, non-metallic materials that are made by the blend of extreme heat on materials such as clay, alumina, silicon carbide, and tungsten carbide. The rapid growth in construction and renovation activities across the globe is expected to be the major driver for the growth of the ceramic tiles market. Rising government initiatives encouraging infrastructure development, high disposable income, and population growth are some factors aiding the growth of the construction sector. This is expected to consequently aid the growth of the ceramic tiles market within the forecast period. However, the high cost of raw materials and the fluctuating energy prices could prove to be a major restraint for the ceramic tiles market within the forecast period. On the other hand, stringent environmental regulations pertaining to carbon emissions caused during the manufacturing of ceramic tiles has enforced market players to enhance their R&D in order to explore and manufacture eco-friendly products. This is expected to unveil new opportunities for the ceramic tiles market in the near future.
Browse through 23 Tables & 22 Figures spread over 110 Pages and in-depth TOC on "Global Ceramic Tiles Market Report 2017: Industry Size, Share, Segments Analysis and Forecast, 2023”.
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Floor tiles segment dominated the ceramic tiles market in the year 2017 in terms of volume. They are used in various residential as well as commercial buildings such as hospitals, offices and retail stores. This is expected to aid the growth of the floor tiles segment within the forecast period. Wall tiles segment accounted for the second largest market share and is expected to witness significant growth during the forecast period.
Residential replacement segment emerged as the leading application segment by accounting for most of the global market share in terms of revenue and is expected to witness significant growth within the forecast period. Growing demand for ceramic tiles to replace paints, marble, stone, granite, and glass is expected to augment the growth of the ceramic tiles market for residential replacement applications within the forecast period. The new residential segment is expected to witness significant growth owing to the rising construction activities across the globe.
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North America witnessed sluggish growth for the ceramic tiles market. This trend is expected to continue within the forecast period owing to the stringent environmental regulations in North America, which have driven the manufacturers in the region towards expanding to other regions across the globe that offer lower regulations and cheaper manufacturing cost. Key players in the construction industry have been increasing the adoption of ceramic tiles in their projects due to their properties such as high durability, frost & thermal shock resistance, etc.
Europe accounted for the second largest market share following the Asia Pacific. The region is expected to witness significant growth on account of rising remodeling and renovation activities. The growing demand from commercial sector is also expected to surge the demand for ceramic tiles within the forecast period. In addition, the rising GDPs of several nations, increasing disposable incomes, changing trends in home furnishing and lifestyle are also expected to drive the demand for ceramic tiles in Europe.
Browse the full "Ceramic Tiles Market by Type (Floor Tiles, Wall Tiles and Other Tiles) for Residential Replacement, Commercial, New Residential and Other Applications by Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa): Global Industry Perspective, Comprehensive Analysis and Forecast, 2017-2023" report at https://www.zionmarketresearch.com/report/ceramic-tiles-market
The Asia Pacific accounted for the largest market share in 2017 and is expected to be the fastest growing regional segment for the ceramic tiles market within the forecast period. The growing urbanization and population explosion especially in countries like China and India are expected to augment the construction activities in the region within the forecast period. In addition, the rising investment in the infrastructure improvement in the emerging economies is expected to increase the demand for ceramic tiles. Furthermore, demand for indoor environment quality buildings is expected to augment the growth of ceramic tiles market growth in the Asia Pacific.
Latin America ceramic tiles market is expected to witness significant growth over the forecast period as a result of increasing construction activities in the countries in Latin America, especially Brazil. In addition, the rising disposable income levels and high improving GDPs are expected to create opportunities for the ceramic tiles market within the forecast period.
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The Middle East and Africa have witnessed a lucrative growth owing to the rise in investment in the construction industry. Recently improved infrastructure and facilities in Africa have increased the demand for ceramic tiles in the region. Globalization and the heavy influx of expatriates in the Middle East, especially in countries such as UAE, Qatar, and Oman have increased the demand for infrastructural development to aid the touristic activities. These developments are expected to drive the growth of ceramic tiles market in Middle East and Africa within the forecast period.
Some of the key players include in ceramic tiles market are Crossville Inc., Florida Tile Inc., Ceramiche Atlas Concorde S.P.A, China Ceramics Co. Ltd., Saloni Ceramics, Gruppo Ceramiche Ricchetti S.p.A and Porcelanosa Grupo among others.
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This report segments the global ceramic tiles market as follows:
Global Ceramic Tiles Market: Type Analysis
- Wall Tiles
- Floor Tiles
- Others
Global Ceramic Tiles Market: Application Analysis
- New Residential
- Residential Replacement
- Commercial
- Others
Global Ceramic Tiles Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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