Ceramic Tiles Market Is Expected to Reach $125.32 Billion by 2020: Radiant Insights, Inc.
(firmenpresse) - SAN FRANCISCO, CA -- (Marketwired) -- 09/09/15 -- 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 environmental 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 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 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.
Wall Tiles
Floor Tiles
Others
Residential Replacement
New Residential
Commercial
Others
North America
US
Europe
France
Italy
Latin America
Brazil
Asia Pacific
China
India
RoW
Iran
Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. We assist and facilitate organizations and individuals procure market research reports, helping them in the decision making process. We have a comprehensive collection of reports, covering over 40 key industries and a host of micro markets. In addition to over extensive database of reports, our experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.
Michelle Thoras
Corporate Sales Specialist, USA
Radiant Insights, Inc
Phone: 1-415-349-0054
Toll Free: 1-888-202-9519
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Datum: 09.09.2015 - 05:15 Uhr
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