Global Ceramic Tiles Market Fostered by Flourishing Construction IndustryThe global ceramic tiles market is growing at a healthy rate as ceramic tiles are now being increasingly used in the construction industry. This is due to the fact that these tiles are cost-effective, and available in different designs and textures.
Ceramic tiles are manufactured using an amalgamation of sand, clay, quartz and water. Over the years, ceramic tiles have gained immense popularity as they manifest high endurance to heat, temperature, weather and acidic components. In addition to this, easy maintenance makes ceramic tiles a perfect fit for hotels, hospitals and laboratories where hygiene is of utmost importance. A new research report by IMARC Group, titled “Global Ceramic Tiles Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, finds that the market reached a volume of 15 Billion sq. Metres in 2017, registering a CAGR of more than 7% during 2010-2017.
Market Drivers/Constraints:
- Rapid industrialisation and surging construction activities has been witnessed in the developing regions such as India and China. This has carved a huge demand for ceramic tiles for flooring and other requirements.
- Another factor driving the growth of the market is the fact that ceramic tiles are considered as a superior alternative as compared to the other existing flooring options such as hardwood, carpet, laminate, vinyl, etc.
- Some of the other factors that have been proactive in maintaining the demand for ceramic tiles are Increasing urbanisation, advancements in technology, inflating incomes and growth in population which have resulted in added housing requirements.
- Keeping in mind the changing consumer preferences, manufacturers have been focusing on expanding their catalogues with a number of product varieties, covering different designs, shapes, textures and colour.
- However, there are few factors that hamper the growth of the ceramic tiles market. The prices of the raw materials of ceramic tiles are prone to fluctuation which can influence the manufacturing cost.
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Product Type Insights:
On the basis of type, ceramic tiles are segmented into floor as well as wall tiles. Ceramic tiles are widely used owing to their durability, and resistance to weather, stains and corrosion.
Application Insights:
Based on application, residential applications represent the largest segment accounting for the majority of the global ceramic tiles market. Ceramic tiles are generally employed within apartments, houses and buildings as a part of residential applications, owing to their cost effectiveness and easy maintenance. They are followed by commercial applications.
Regional Insights:
On a geographical front, China exhibits a clear dominance in the market with the majority of the total global production. This can be attributed to the easy availability of raw materials and cheap labour in the region. It is followed by Brazil, India, Indonesia and Vietnam.
Competitive Landscape:
The market is fragmented with the presence of numerous small and large manufacturers who compete in terms of prices and quality. There is a strong competition in the market which makes it difficult for small players to survive. Some of the leading players operating in the market are:
- Mohawk Ind.
- Siam Cement
- RAK Ceramics
- Lamosa
- Ceramic Carmelo Fior
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