Ceramic Tiles Market expected to grow at a CAGR of 9.3% during 2015-2019
Posted: Jul 03, 2017
Ceramic tiles are an important aspect of the construction industry. Applications of ceramic tiles include residential replacement, commercial, new residential and others. In terms of revenue, the global ceramic tiles market was valued at US$ 60,735.8 Mn in 2012. The market is expected to reach US$ 112,323.5 Mn by 2019, expanding at a CAGR of 9.3% from 2015 to 2019.
Demand for construction in housing as well as commercial sectors is rising due to growing economies, urbanization, higher per capita income and spending, GDP growth, population expansion and other such factors that are increasingly being witnessed in emerging economies such as India, China and Brazil as well as in developing countries in Africa and Latin America, among others. Additionally, usage of ceramic tiles fulfills the demand for better aesthetics, structural reliability and sustainability without a significant increase in prices. This has led to construction of a higher number of buildings with usage of ceramic tiles in walls and floors. These factors have collectively boosted the overall demand for ceramic tiles.
Request For Sample@ http://www.futuremarketinsights.com/reports/sample/rep-gb-1669
Residential replacements relate to ceramic tiles replacing paints, marble, stone, granite, and glass used in the residential construction industry. In 2012, residential replacement was the major application of ceramic tiles, accounting for around 40% of the ceramic tiles market. The residential replacement segment was valued at US$ 29 Bn, the segment grew at a Y-o-Y growth rate of 9.5% to reach a value of US$ 31 Bn in 2015. The segment is projected to register a CAGR of 8.7% during the forecast period from 2015 to 2019. The demand for ceramic tiles in the residential replacements category will increase by around 1% through 2019.
Demand for ceramic tiles used for residential replacement has increased as these can be used as substitutes for paints, marble and other similar products. Growth of the segment is likely to be hampered by governmental regulations pertaining to exhaust gases emitted during the production process of ceramic tiles. Production of ceramic tiles requires high temperatures usually in the range of 2000-25000 C. Large quantity of fuels is required to create such high temperatures. This leads significant emission of CO2 in the atmosphere.
Various companies have invested significantly in the development of new environment-friendly production processes due to increasing number of stringent government regulations pertaining to greenhouse gas emissions. In the recent past, industry participants have been focusing on capacity expansions to increase their production capacities. Key market players operating in the ceramic tiles market include RAK Ceramics, China Ceramics, Mohawk Industries, Ceramica Saloni, Kajaria Ceramics and Porcelanosa Grupo. Expansion through various business partnerships and product portfolio globally, focusing on sustainability, aiming at growth by new product development and strategic acquisitions will remain the key strategies of the ceramic tiles manufacturers worldwide during the forecast period.
Future Market Insights (Fmi) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services, which are personalized in nature.