Ceramic Tiles Market SWOT Analysis, Business Growth Opportunities by Top Companies, Future Challenges, Competitive Strategies and Forecast to 2031
ESOMAR-certified firm Future Market Insights (FMI) analyzes
the global ceramic
tiles market in its recent study. As per the report, the market
will continue exhibiting healthy growth, expanding at a 7.20% CAGR,
reaching US$ 84.8 Bn in 2021.
Sales outlook for ceramic tiles market will remain positive with
counties including China, India, Italy, and the U.S. emerging as key exporters
and producers. Despite restrictions imposed amid COVID-19 outbreak, the market
continued showcasing a steady growth trajectory.
The analysis has estimated sales to rise at 2.50% year
on year rate in 2021. Spurred by increasing growth opportunities, overall sales
volume is anticipated to reach 32,870 Sq. Mtr. by 2030.
As per the study, the demand for ceramic tiles is
consistently rising owing to rapid urbanization across developing countries and
growing demand for aesthetically pleasing and sustainable tiles for home
décor.
Additionally, demand for visual appeal in ceramic tiles is
driving product innovations such as the development of natural and wooden
finish designs with stain resistance and added durability. These developments
are expected to contribute towards overall expansion of the market.
Rising residential replacement projects in countries such as
the U.S., the UK, Italy, and Germany are fueling demand for ceramic tiles as
they support green building projects and offer long-term durability at low
costs.
In developing countries such as China, India, Japan, and
Brazil, growth can be attributed to increasing investments in infrastructure,
migration of people from rural areas to cities, and government-backed
developments in healthcare, education, and commercial facilities.
“Rapid expansion of infrastructure, coupled with growing
demand for ceramic tiles because of their style, sustainability, and durability
will continue driving sales in the upcoming years,” says the FMI analyst.
Key Takeaways from Ceramic Tiles Market Survey
- By
product type, sales of floor tiles will gain momentum throughout the
assessment period.
- Residential
replacement segment will remain dominant in terms of application, owing to
increasing projects across various countries.
- The
U.S. is anticipated to witness healthy growth, expanding at a 6.50% CAGR
between 2021-2031.
- Italy
will lead the market in Europe, owing to high export volume, exhibiting
market expansion at 5.70% CAGR.
- South
Korea and Japan will account for 13% of the total market share.
Competitive Landscape
RAK Ceramics, Crossville, Inc., Atlas Concorde, Saloni
Ceramica, Porcelanosa Grupo, Gruppo Ceramiche Ricchetti, Florida Tile, Mohawk
Industries, Kajaria Ceramics, and China Ceramics Co., Ltd. are among top
manufacturers of ceramic tiles in the market, accounting for 7-9% of market
share in 2021.
Read Full Report - https://www.futuremarketinsights.com/reports/ceramic-tiles-market
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