Ceramic Tiles Market is Estimated to Register a Promising 9.7% CAGR During The Forecast Period -2018 To 2026
The global ceramic tiles market faces stiff competition due to the presence of several large and small scale players in the market. It is also fragmented, says Transparency Market Research (TMR). These players are resorting to strategies such as launching innovative products and introducing competitive prices to establish their place in the global ceramic tiles market. The leading players in the market include Kajaria Ceramics, Ras Al Khaimah Ceramics, Grupo Lamosa, Johnson Tiles, and Gruppo Concorde S.p.A.
In terms of region, the global ceramic tiles market is expected to be dominated by the Asia Pacific region. The growth in this region can be attributed to rising number of construction projects, low production cost, and rising disposable income. China is supposed to lead the market here. The global ceramic tiles market is segmented into residential replacement, new residential, commercial, and industrial sectors. However, residential replacement segment is likely to dominate the global ceramic market due to rising number residential renovation activities. Thus, the global ceramic tiles market is projected to grow at a staggering rate.
The information Presented in this Review is Based on Press-Release by TMR
- Construction Sector to Promote Global Ceramic Tiles Market
Rapid urbanization in developing economies leads to construction of large number of residential, commercial, and industrial complexes across the globe. Thus, the construction sector is expected to rise the demand for ceramic tiles in upcoming years. This is expected to drive the global ceramic tiles market to strengthen at a grand pace during the forecast period. Moreover, large section of the population is migrating to urban areas for education and employment. Such migrants are expected to boost demand for construction sector. This factor in turn is projected to encourage the global ceramic market vicariously. Additionally, ceramic tiles are also used as ceiling tiles, roofing tiles, bathroom wares, and kitchen counter top tiles. This again is projected to propel the global ceramic tiles market during the forecast period.
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