Ceramic Tiles Market In-depth Analysis, Business Strategies, and Growth Rate
Ceramic Tiles Market to 2025 – Global Analysis and Forecast by Type, and Application. In terms of revenue, the global ceramic tiles market accounted for US$ 81.01 Bn in 2017 and is expected to grow at a CAGR of 5.5% over the forecast period 2018–2025, to account for US$ 122.59 Bn in 2025. As a product the ceramic tiles have grown to a considerable chunk and the market for the same is observing a rapid growth with regards to the product innovations being carried out by the market players. Another factor catalyzing the market growth in the current scenario is the initiatives undertaken to enhance the infrastructure construction industry by various governments of developed countries as well as developing economies. The ceramic tiles market consists of large and well-established players as well as tier-2 and tier-3 companies across the globe, which invests huge amounts in order to deliver the most enhanced materialized tiles to their customers. In addition, the infrastructure / construction industry across the globe is experiencing significant growth rate attributing to the demand from the mass. Parallel to this, the global infrastructure industry is also experiencing a decent demand for lightweight, durable and anti-stain materials for their buildings. Owing to this factors, the players operating in the ceramic tiles industry are procuring increased amount of ceramic tiles, which in turn is increasing the production line of ceramic tiles in the current scenario.
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The global ceramic tiles market is segmented based on of types and application. Based on types of segment, the most dominant segment in 2017 across the globe accounted for floor tile, owing to the increased focus on the aesthetics of the buildings. Application wise, the global ceramic tiles market has gained popularity in the residential sector in the current scenario, and with the increasing residential infrastructure across the globe, the procurement of ceramic tiles is anticipated to grow at a faster rate during the forecast period. This factor is anticipated to boast the production line of the ceramic tiles during the forecast period till 2025. Geographically, the ceramic tiles is heavily captured by Asia Pacific region, owing to huge procurement of ceramic tiles among the residential infrastructure builders and constructors. Another factor catalyzing the ceramic tiles market in the region is the rising hospitality industry in the region, thereby, demanding increased commercial buildings such as hotels and hospitals. Apart from the hospitality industry, Asia Pacific countries are also witnessing a substantial growth in number of airports, railway stations, shopping malls and retail stores. The demand for ceramic tiles is also substantially increasing among these infrastructures.
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Ceramic tiles market operates in a highly fragmented industry with large number of local players capturing market place. Key players in the market are collaborating with other providers of Ceramic tiles to gain high market share. Some of the key players operating in the Ceramic tiles market includes Bridgestone Corporation, Continental AG, The Goodyear Tire & Rubber Company, Michelin, Pirelli & C. S.P.A, Dunlop India Limited, Yokohama Rubber Co. Ltd., Apollo Tires Ltd., MRF Tires, and Hankook Tire among others.
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