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Ceramic Tiles Market To Witness Enhanced Usage In Home Decoration, Real Estate And Construction Industries Till 2020 | Million Insights

Ceramic Tiles Market To Witness Enhanced Usage In Home Decoration, Real Estate And Construction Industries Till 2020 | Million Insights

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According to new report available with Million Insights, The growing infrastructure development activities in emerging countries such as Russia, Brazil, India, and China is expected to drive the industry growth of this market during the forecast period.

Industry Insights

The size of global ceramic tiles market was valued at USD 76 billion in 2015. The growing infrastructure development activities in emerging countries such as Russia, Brazil, India, and China is expected to drive the industry growth of this market during the forecast period.

The product is currently being used as an alternative for paints, metal slabs, and marble flooring. In addition, the use of the product in home decoration and real estate industry segments entails social impacts, including status enhancement, which is expected to further enhance the growth of the overall industry.

The growing utilization of the product in the construction industry can be attributed to the superior product properties, rise in disposable incomes of end consumers, rapid urbanization in the Asia Pacific region, technological advancements, and stringent environmental regulations in the developed economies of Europe and North America.

With the increasing utilization of the product in suburban houses, restaurants, bathrooms, malls, and kitchens worldwide, new competitors have entered in this industry over the past few years. This has, in turn, increased the competitive rivalry in the industry.

Full Research Report On Global Ceramic Tiles Market Analysis available at: https://www.millioninsights.com/industry-reports/ceramic-tiles-market

Product insights

In terms of product, the market has been segmented broadly into floor tiles, wall tiles, and others, which include facade, countertop, etc. The floor tiles segment dominated the overall industry revenues with a share of nearly 50% in 2015, and is anticipated to be the fastest-growing segment during the forecast period.

The use of floor tiles as a replacement for wood, marble, and other floor types has increased significantly owing to its advanced properties, such as corrosion resistance, thermal resistance, and strength are expected to enhance the growth of this segment. The availability of a large variety of designs in floor tiles has made them an ideal choice for home decor applications.

Wall tiles are widely used in bathrooms, kitchens, and patios, owing to its high resistance to chemicals, humidity, and cooling effects. This segment accounted for the second-largest share of the market in 2015. Several manufacturers are vertically integrating their processes in order to gain a competitive edge in the industry, in addition to enabling superior consumer service.

Application Insights

Ceramic tiles are primarily used in residential replacement applications owing to their low costs and aesthetic appearance. These tiles are generally made using red and white clay, and are glazed to improve their appearance, while making them more durable. The residential replacement segment is slated to continue to dominate during the forecast period, particularly in Brazil, China, and India owing to the increasing rate of urbanization and rising disposable incomes of end consumers in these countries.

The commercial segment is expected to witness substantial growth due to its wide application in restaurants, hotels, walkways, offices and malls. The use of ceramic tiles enhances the ambiance of the workplace, in addition to providing a cooling effect.

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Regional Insights

The emerging economies of Asia-Pacific are slated to have significant impacts on the overall growth of the ceramic tiles industry during the forecast period. The Asia Pacific region accounted for over 65% of total consumption in 2015. The growth trend is anticipated to continue over the forecast period, owing to increasing construction and infrastructure development activities in India and China.

The North American region is expected to witness slow growth on account of stringent regulations regarding the VOC emissions. These regulations have forced numerous manufacturers to shift their manufacturing and R&D activities to developing countries such as China, mainly as these developing economies are offering better growth opportunities, coupled with low labor costs and easy availability of raw materials.

Competitive Insights

The global ceramics tiles industry has attracted several new entrants in recent years owing to the rapid demand growth, thereby rendering the industry highly competitive. The industry is dominated by key participants, including Atlas Concorde, Porcelanosa Group, Mohawk Industries, Crossville Inc., and Gruppo Ceramiche Ricchetti. The key players are facing major competition from Chinese and Indian players, namely, China Ceramics Co. Ltd., Asia Pacific Building Products, Mohawk Industries, Saloni Ceramica, and VEISA Ceramics. Most players in this industry have adopted strategies such as new product developments and capacity expansions in order to acquire a competitive edge over their competitors.

Furthermore, the companies are developing new eco-friendly products to match the stringent regulations in the European and North American market segments.

Related Reports of this Category available at Million Insights: https://www.millioninsights.com/industry/building-materials

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