Ceramic Tiles Market Size, Share & Industry Analysis by 2022 | Key Segments, Benefits & Opportunity
Ceramic Tiles Market by Product Type (Wall Tile, Floor Tile, Vitrified Tile, and Industrial Tile), Raw Material (Feldspar, Kaolin, Bentonite, and Silica Sand), and Application (Residential Replacement, New Residential, Commercial)
Ceramic Tiles Market Report, published by Allied Market Research states that the ceramic tiles market was valued at $84,123 million in 2015, and is projected to reach $145,949 million by 2022, growing at a CAGR of 8.1% from 2016 to 2022. Asia-Pacific held nearly one-third share of the global market in 2015.
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Ceramic tile is one of the most prevalent flooring choices used in building & construction industry globally. These are made using raw materials such as feldspar, bentonite, kaolin, sand, and glass. These offer reduction in household allergens, are environment friendly, easy to clean, very low maintenance, cost-effective, and are resistant to scratch, moisture, and dust.
The global ceramic tiles market is driven by growth in construction sector worldwide. In addition, increase in use of ceramic tiles as a substitute to other products in residential applications, such as marble, paints, and glass, is expected to fuel the demand for ceramic tiles in the near future. However, stringent regulations pertaining to emissions of exhaust gases during the production of these tiles is expected to restrain market growth. Thus, introduction of environment-friendly production processes is expected to offer lucrative opportunities for market players.
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Key Market Players
The major companies profiled in the report include RAK Ceramics, Mohawk Industries, Ceramica Saloni, China Ceramics, Kajaria Ceramics, Porcelanosa Grupo, Siam Cement Group, Lamosa Grupo, Ras Al Khaimah Ceramics, and Crossville Inc.
In terms of value, vitrified tile segment is expected to grow at a CAGR of 7.6% during the forecast period.
Asia-Pacific is projected to maintain its lead position throughout 2022, growing at a CAGR of 9.0%, in terms of value.
Residential replacement approximately occupied more than one-third of the global market in 2015.
China occupied more than one-fourth of the Asia-Pacific ceramic tiles market in 2015, and is expected to grow at the highest CAGR of 11.0%, in terms of value.
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