October 20, 2022 22:30 ET | Source: Future Market Insights Global and Consulting Pvt. Ltd. Future Market Insights Global and Consulting Pvt. Ltd.
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DUBAI, United Arab Emirates, Oct. 20, 2022 (GLOBE NEWSWIRE) -- The global ceramic tiles market is predicted to exhibit substantial market growth over the forecast . Valued at US$ 84.8 Bn in 2021, the target market will grow at a robots CAGR of 7.20% during 2022-2032. The rapid expansion of residential, commercial, and construction sectors is propelling the growth of the ceramic tiles market. Also, recent growth of the home decor sector, residential construction industry, and development of thee organized retail sector will further aid the growth of the ceramic tiles market during the forecast period.
The past few years has registered the increasing per capita income of several countries all over the world. This has resulted in the rise of renovations and home decor activities. Ceramic tiles are often preferred by homeowners, renovators, and interior designers due to their visually appealing characteristics as well as their sustainability and durability features. Owing to their visual attractiveness, ceramic tiles are in high demand in both residential construction and in the construction of hotels, offices, universities, shopping centers, and restaurants.
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Addition, the availability of an extensive variety of ceramic tiles for home décor like mosaic, glazed, porcelain, and terracotta tiles further contribute to the escalating market demand as these fulfill the purpose of aesthetics as well as functionality. Keeping this in mind, many leading market manufacturers are releasing different types of intricate and modern patterns in ceramic tiles designs so as to meet the growing consumer demand. The deep reach of e-commerce coupled with online home decor ideas that guide consumers’ decisions also contribute to the growing demand for ceramic tiles in the global market.
Residential replacement, new construction project, remodelling and renovations activities are fueling the growth of ceramic tiles market. Affordability, sustainability, and durability of ceramic tiles are pushing the market expansion of the same over the forecast period.
“Rising demand for eco-friendly tiles will facilitate the global growth of the ceramic tiles market over the forecast period,” says an FMI analyst.
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RAK Ceramics, Crossville Inc., Atlas Concorde, Saloni Ceramica, Porcelanosa Grupo, Gruppo Ceramiche Ricchetti, Florida Tile,Mohawk Industries, Kajaria Ceramics, and China Ceramics Co., Ltd., among others, are some of the major players in the ceramic tiles market profiled in the full version of the report.
Key market players are concentrating on product innovations and developments to meet the rising consumer demand. These enterprises are also deploy tactics such as mergers, acquisitions, and collaborations to strengthen their market position.
More Insights into Ceramic Tiles Market Report
In its latest report, FMI offers an unbiased analysis of the global ceramic tiles market, providing historical data from 2017 to 2021 and forecast statistics for 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented on the basis of product (floor tiles, wall tiles, other tiles), application (residential replacement, commercial, new residential, others (facades, countertops, etc.)), and region.
According to the latest FMI reports, based on segmentation, the residential segment is expected to continue its market lead through 2032. Benefits like sustainability and durability drive this segment’s growth. In terms of product types, the floor ceramic tile segment will hold major market share owing to its extensive application in the housing sector.
Based on region, the ceramic tiles market in North America is anticipated to demonstrate remarkable growth during 2022-2032. The target will likely grow at a CAGR of 5.6% due to the growing construction of residential and commercial buildings. Availability of raw material and a largely untapped market induces many market players to invest in this region and thus contribute to the regional target market growth. Europe and Asia Pacific, too, will experience notable growth in the ceramic tiles market over the forecast period.
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Key Segments Covered in the Ceramic Tiles Industry Report
Ceramic Tiles Market by Product:
Ceramic Tiles Market by Application:
Ceramic Tiles Market by Region:
3.1. Key Trends Impacting the Market
5. Global Ceramic Tiles Demand Analysis 2017-2021 and Forecast, 2022-2032
5.1. Historical Market Volume (Sq. Mts.) Analysis, 2017-2021
5.2. Current and Future Market Volume (Sq. Mts.) Projections, 2022-2032
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