The global ceramic tiles market size is expected to reach USD 94.61 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 7.7% during the forecast period. Increasing construction activities in residential and commercial applications coupled with focus on green buildings is projected to drive the growth.
As per the reports of the U.S. Green Building Council, green construction is growing at rapid pace and is projected to support more than 3.3 million jobs in the years to come. Owing to strict regulations for emission and environmental protection, many organizations are working on green construction. If the standards applied properly, these buildings can help reduce around 10% of carbon emissions in countries such as the U.S.
Another driver for green construction is strong business profits. Ceramic tiles are projected to play an important role in green construction over the forecast period. Products such as cool roof tiles help reflect solar energy, which keeps the interior cooler by reducing the inside temperature by around 10 to 20 degree Celsius.
Improvement in installed manufacturing capacity by large players in emerging economies is anticipated to remain an important factor for the growth of the ceramics tiles market. These players are involved in organic and inorganic expansions. Most of the capacity expansion is done through outright acquisition or joint ventures with small and medium players. Increase in product portfolio and geographical expansion to fuel the growth in countries such as China and India.
Digital technology has highly affected the market over the past few years. Application in digital inkjet printing technology for ceramic tiles has made it possible to develop tiles with a variety of designs and appearances. Inkjet technology allows high quality and high-speed printing with speed of around 50-meters per minute. The decoration can be applied till the edges of the tile thus allowing perfection in printing. This technology allows manufacturers flexibility and innovation in designing ceramic tiles.
Demand for rubber flooring is increasing rapidly, especially from retail stores, hospitals, and residential buildings owing to enhanced comfort level the product offers. Reduced risk of injury and strain of feet and legs is expected to propel demand for these products in the forthcoming years. These are also being used in electronic and electrical manufacturing companies for static flooring due to their non-conductive nature. These factors in combination can critically impact the market growth in near future.
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Further key findings from the report suggest:
In terms of revenue, glazed segment is anticipated to reach USD 10.06 billion by 2025
In terms of revenue, wall tiles segment is projected to witness a CAGR of 7.8% over the forecast period
Residential application held the leading market share of 43.4% in 2018
Europe ceramic tiles market is anticipated to reach 2.38 billion square meters by 2025
In terms of revenue, Asia Pacific is projected to witness a significant CAGR of 8.5% over the forecast period, owing to rising residential and commercial construction activities
Some of the key market players are Atlas Concorde; Crossville Inc.; Mohawk Industries, Inc.; RAK Ceramics; Florida Tile; Saloni Ceramica; Kajaria Ceramics; and Guangdong Monalisa Industry Co., Ltd.
Grand View Research has segmented the global ceramic tiles market report on the basis of product, application, end use, and region:
Ceramic Tiles Product Outlook (Volume, Million Square Meters; Revenue, USD Million, 2014 - 2025)
Ceramic Tiles Application Outlook (Volume, Million Square Meters; Revenue, USD Million, 2014 - 2025)
Ceramic Tiles End Use Outlook (Volume, Million Square Meters; Revenue, USD Million, 2014 - 2025)
Ceramic Tiles Regional Outlook (Volume, Million Square Meters; Revenue, USD Million, 2014 - 2025)
Central and South America
Middle East and Africa
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