Global Ceramic Tiles Market: Construction Industry Reveals Major Growth Opportunities as Market Projected to Cross US$102 bn by 2019
The global ceramic tiles market is expected to reach US$102.79 bn by the end of 2018. This market is expanding at a CAGR of 8.4% within a forecast period from 2012 to 2018. Before this, the global ceramic tiles market was recorded at US$55.7 bn in 2011, as stated in a research report recently published by leading market intelligence provider, Transparency Market Research. The report, titled “Ceramic Tiles Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 – 2019,” provides the latest information on what influences this market and how players in it can maximize their share.
According to the report, one of the major factors driving the global ceramic tiles market is the worldwide spike in construction activities. This applies especially to the residential sector, as the growing population densities across major urban regions and the growing income of consumers are creating a high demand for residential structures in and around urban areas. The global ceramic tiles market is especially benefitting from the increase in per capita income and the higher GDP, as it means that a larger number of consumers and homeowners are now able to afford high quality ceramic floor tiles.
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From a geographical standpoint, the global ceramic tiles market is expected to be dominated by Asia Pacific, its current leader since 2011. Asia Pacific consumption of ceramic tiles is predominantly being pushed by the high rate of urbanization in China and India. Other nations that are showing a heavy rate of construction activities are Brazil, the leading nation in the Latin America ceramic tiles market, and major South Africa regions.
As mentioned earlier, the number of consumers that can afford premium and aesthetically pleasing ceramic tiles is increasing, not just in developed economies, but in developing ones as well. Many consumers in major regions of the global ceramic tiles market are beginning to put aesthetics as a high priority with quality and structural stability.
Key categories of segmentation of the global ceramic tiles market in the report are product type and application. The segments under product types are wall tiles, floor tiles, and other tiles, while the segments under applications include new residential, commercial, residential apartment, and others, such as countertops and facades.
In 2012, nearly 47% of the global ceramic tiles market was occupied by the residential tiles segment, based on product type. The report expects this segment to retain its leading position throughout the forecast period.
One of the major restraints on the global ceramic tiles market discussed in the report is the high carbon dioxide emission rate during the production of ceramic tiles. As a result, stringent government regulations governing regional carbon footprints could hamper this market’s overall growth.
The key players in the global ceramic tiles market, as mentioned in the report, are Mohawk Industries, Gruppo Ceramiche Ricchetti, China Ceramics Co., Ltd., Kajaria Ceramics, Saloni Ceramica, Porcelanosa Grupo, RAK Ceramics, Crossville Inc., Atlas Concorde, and Florida Tile.
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