Portland, OR, Aug. 10, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the India ceramic tiles market generated $3.72 billion in 2019, and is estimated to reach $7.14 billion by 2027, registering a CAGR of 8.6% from 2020 to 2027. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenario.
Growth of the construction industry and increase in urbanization drive the growth of the India ceramic tiles market. However, high goods and services tax charges and popularity of natural stones for flooring hinder the market growth. On the other hand, technological advancements in tile manufacturing machines and innovations in tile printing technologies such as 3D printing & digital printing create new opportunities in the coming years.
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Covid-19 scenario:
- During the Covid-19 outbreak, the manufacturing activities of ceramic tiles have been halted in India. However, there are chances that India can replace China as a global supplier after the coronavirus pandemic.
- The demand for the ceramic tiles has been reduced due to the restrictions on the construction industry during the lockdown.
The report offers a detailed segmentation of the India ceramic tiles market based on type, application, end user, and construction type.
Based on type, the ceramic segment accounted for the largest share in 2019, holding nearly half of the total share, and is expected to maintain the largest share throughout the forecast period. However, the vitrified segment is estimated to portray the highest CAGR of 9.2% during the forecast period.
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Based on application, the wall tiles segment contributed to the largest share in 2019, accounting for around three-fifths of the total share, and is estimated to maintain its dominant position during the forecast period. However, the floor tiles segment is expected to register the highest CAGR of 9.2% from 2020 to 2027.
Based on end user, the residential segment contributed the highest share, accounting for more than four-fifths of the total market share in 2019, and will maintain its dominance throughout the forecast period. Moreover, the same segment is expected to grow at the highest CAGR of 9.0% from 2020 to 2027.
Leading market players analyzed in the research include Kajaria, Prism Johnson, Somany, RAK Ceramics, Asian Granito, Varmora, Simpolo, Nitco Tiles, Orient Bell Ceramics, and Sun Heart.
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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.