With the presence of a large pool of participants, the global ceramic tiles market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). Crossville Incorporation, Florida Tile Inc., Ceramiche Atlas Concorde S.P.A, China Ceramics Co. Limited, and Saloni Ceramics are some of the key vendors of ceramic tiles across the world. These players across ceramic tiles market are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the ceramic tiles market study.
Citing an instance, in August 2018, EFI launched Cretaprint M5 – a fifth generation of ceramic tile printer with an innovative EFI e-D5 printhead and Industry 4.0 capabilities.
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As estimated in this report, the global ceramic tiles market stood at US$ 91.17 billion in 2017. Witnessing a tremendous rise during the period from 2018 to 2023, the revenue in this ceramic tiles market is expected to reach US$ 155.31 billion by the end of the forecast period. The main product types available in this ceramic tiles market are floor tiles and wall tiles. Among them, the demand for floor tiles is relatively higher and the trend is anticipated to remain so over the next few years, notes the research report.
Thriving Construction Activities To Assist Market Record Commendable Gains
“Massive development witnessed in construction and renovation activities is likely to steer the progression of ceramic tiles market over the years ahead,” says the author of this study. Apart from this, supportive government policies promoting infrastructural growth along with rising disposable incomes will boost ceramic tiles market trends over the coming years.
Elevated raw material process along with oscillating energy costs, however, are projected to pose a threat to the growth of ceramic tiles market in the years ahead. Nevertheless, strict legislations governing GHG emissions as a result of ceramic tiles production process has forced manufacturers to develop eco-friendly products. This, in turn, will unleash new growth avenues for ceramic tiles market in the ensuing years, thereby normalizing the impact of hindrances on the ceramic tiles market, reports the study.
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Swift Urbanization To Support Asia Pacific Maintain Regional Dominance
Regionally, Asia Pacific has been leading the worldwide ceramic tiles market and is anticipated to continue on the dominant position in the years to come, states the ceramic tiles market study. Humungous investments in construction and infrastructural activities are the key factors contributing towards the dominance of the Asia Pacific ceramic tiles market. Urbanization witnessed in the countries such as South Korea, India, and China leading to enlarged growth of construction sector in Asia Pacific is another significant factor that is supporting the growth of this regional ceramic tiles market. In addition, population explosion and burgeoning demand for ceramic tiles over other products such as metal slabs and marble floor will further stimulate the industry expansion.
- North America
- The U.S.
- Asia Pacific
- Latin America
- The Middle East and Africa
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