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