Bharat Book Bureau Provides the Trending Market Research Report on “Ceramic Tiles Market by Application (Floor, Wall, and Roof), Construction Type (New Construction, and Renovation & Replacement), End-use Sector (Residential, and Non-residential), and Region (North America, Europe, APAC) – Global Forecast to 2023” under Heavy Industry category. The report offers a collection of superior market research, market analysis, competitive intelligence and industry reports.
The ceramic tiles market is projected to grow at a CAGR of 7.03% from 2018 to 2023
Ceramic Tiles Market is estimated at USD 227.89 billion in 2018 and is projected to reach USD 320.07 billion by 2023, at a CAGR of 7.03%. The rise in the number of new constructions, coupled with the rise in population & rapid urbanization drives the demand for ceramic tiles. The cost-effectiveness, resistance to stains and water, and environment-friendly properties of ceramic tiles contribute toward the growth of the market. Furthermore, the integration of new technologies in ceramic tiles such as digital printing has boosted their popularity in the construction industry. However, volatility in the prices of the raw materials may restrain the growth of the ceramic tiles market.
The new construction segment, by construction type, accounted for the largest share of the ceramic tiles market in 2017
New construction led the ceramic tiles market in 2017 in terms of both value and volume, and this trend is projected to continue through 2023. The factors contributing to the growth of ceramic tiles in new constructions include the cost-effectiveness and the aesthetic appeal of these tiles and growing trend toward interior decoration. Furthermore, installation of ceramic tiles in new constructions not only guarantee lesser energy consumption but also eliminate the need for frequent tile replacement.
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Based on the end-use sector, the residential segment accounted for a larger share of the ceramic tiles market in 2017
Based on the end-use sector, the ceramic tiles market has been segmented into residential and non-residential. The residential segment dominated the ceramic tiles market in 2017. The use of diversified ceramic tiles in residential buildings enhances aesthetic appeal and provides comfort. Housing renovation and maintenance activities have increased steadily in the recent past and are expected to further increase in the coming years owing to the increasing disposable income of the population, which subsequently drives the demand for ceramic tiles in the residential sector.
The Asia Pacific ceramic tiles market is projected to witness the highest growth rate during the forecast period
The Asia Pacific ceramic tiles market is projected to grow at the highest CAGR between 2018 and 2023. Factors such as the increasing number of new housing units, huge investments in the infrastructural sector, and rapid industrialization drive the ceramic tiles market in the region. The markets in China and India are projected to be lucrative due to the growth of the construction industry in these countries.
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