Global Ceramic Tiles Market is expected to reach USD
125.32 billion by 2020, according to a new study by Grand View Research, Inc.
Construction industry growth in BRICS coupled with rising demand for new
residential structures in emerging markets of China and India due to
urbanization is expected to drive market demand for ceramic tiles over the
forecast period. Stringent environment regulations pertaining to carbon
emissions caused during the production of ceramic tiles has forced market
players to increase their R&D expenditure on eco-friendly products, which
is likely to open new market avenues in the near future.
Residential replacement was the
largest application, accounting for more than 50% of market volume in 2013.
Growing demand for durable material coupled with rising awareness towards
personal hygiene is expected to augment ceramic tiles demand in residential
replacement over the forecast period.
Global ceramic tiles market
volumes by product, 2012-2020 (Million square meters)
Browse full research report on
Ceramic Tiles Market
Further key findings from the
report suggest:
- Global
ceramic tiles market demand was 12,328.3 million square meters in 2013 and
is expected to reach 21,822.7 million square meters by 2020, growing at a
CAGR of 8.5% from 2014 to 2020.
- Floor tiles
were the largest product segment for ceramic tiles market, accounting for
over 50% of market volume in 2013. Emergence of floor tiles as a
replacement for hardwood and other flooring options on account of superior
properties such as high durability, frost & thermal shock resistance
is expected to have a positive impact on ceramic tiles market in the near
future.
- Asia Pacific
was the largest ceramic tiles market, exceeding 60% of global volume in
2013. Government of India and China have increased spending on
infrastructure improvement, which is expected to promote the demand for
residential and commercial structures and boost ceramic tiles market over
the forecast period.
- Emergence of
West Africa as a manufacturing hub for ceramic industry on account of
growing domestic demand for ceramics in household and building
applications in countries such as Nigeria is expected to have a positive
impact on market. Low manufacturing cost as compared to countries of North
America and Europe has forced numerous ceramic manufacturers to commence
production in West Africa. In December 2013, West African Ceramics Ltd.
(WACL) announced an investment of over USD 50 million to commence
production of ceramic tiles in Nigeria.
- Global
ceramic tiles market is fragmented in nature due to presence of numerous
companies operating across the world. Key market participants include
Crossville Inc., Saloni Ceramica, and China Ceramics.
About Grand View Research,
Inc:
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
For more information: http://www.grandviewresearch.com
No comments:
Post a Comment