Global Ceramic Tiles Industry Market – Analysis, Forecasts and Growth Trends
A new report “Global Ceramic Tiles Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast,” offered by DecisionDatabases.com gives an analytical study of the market, its value chain, latest trends, forecasts, trends, drivers, and restraints. The historical study from 2015 helps in better understanding of the market. The report also gives details about the market players who hold a dominating position in the global business scenario.
Ceramic tiles are a combination of clays which are pressed into various shapes and size followed by a hardening process at very high temperature. These are majorly used to cover walls, roofs, floor or tabletops. These tiles are glazed or left unglazed based on their intended use. Ceramic tiles are light in weight and are available in a wide range of designs and colors. They are easily cleaned with soapy water and are scratch resistant in nature. Growing construction and infrastructure activities across the globe is one of the major driving factors for the ceramic tiles market
growth. Rising demand from restaurants, resorts, malls and offices will further aid to the market growth. In addition, high disposable income coupled with urbanization is also expected to have a positive impact on the market growth over the coming years.
Rising demand for residential houses along with continuous technological advancements is likely to augment market growth over the forecast period. Rising R&D expenditure to develop eco-friendly ceramic tiles are supporting environmental regulation, which in turn will further drive market demand for the product. Over the past few years, application of ceramic tiles has increased to a large extent in real estate and construction industry owing to its rising usage as a lifestyle product. These tiles can also be used in vacuum cleaners for insulation and as capacitors in television. Other application includes usage as connecting pipes in car engines for sewage and much more.
The global ceramic tiles market has been segmented based on product into floor tiles, wall tiles, and others (includes façade, countertop). Floor tiles are one of the major product segments and accounts for major market share. This segment is expected to grow at a significant rate over the forecast period on account of growing demand as a strong alternative for hardwood and other flooring substitutes due to its high durability and heat-resistant properties. Furthermore, the ceramic tiles market has been segmented by application into replacement, new residential, commercial and others. The residential application is one of the leading segment and is projected to continue its dominance in the near future owing to rising usage in the kitchen, living room and other parts of houses along with rising demand for lifestyle product.
Geographically - Asia pacific is one of the fastest growing markets for ceramic tiles and is anticipated to witness a substantial growth over the forecast period on account of growing construction activities in the region particularly in the BRIC region. North America is expected to show a sluggish growth in the near future owing to the presence of stringent environmental regulations in the region. MEA is emerging as a manufacturing hub due to growing regional demand for ceramic tiles for building and household applications along with low manufacturing cost in the region.
The key industry players include Atlas Concorde, Crossville Inc., Florida Tile, Gruppo Ceramiche Ricchetti, Mohawk Industries, Porcelanosa Group, Asia Pacific Building Products, China Ceramics Co. Ltd, Saloni Ceramica, and VEISA Ceramics. Manufacturers are increasing expenditure on R&D to develop eco-friendly tiles, which is expected to open new market avenues over the coming years.
In Dec 2013, West African Ceramics Ltd. (WACL), a leading ceramic tiles manufacturer, has announced to invest over USD 50 million for the development of a ceramic tile factory in western Nigeria.
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