Ceramic Tiles Market Size Worth $582.7 Billion By 2027 | CAGR: 6.7%: Grand View Research, Inc.

 

The global ceramic tiles market size is expected to reach USD 582.7 billion by 2027, expanding at a revenue-based CAGR of 6.7%, according to a new report by Grand View Research Inc. Increasing demand for aesthetics improvement in the flooring and walling is anticipated to support market growth over the forecast period.

High production capacity coupled with a wide distribution network of prominent players are likely to fulfill the demand in the construction applications across the globe. As a result, increasing new constructions for residential and non-residential buildings in major economies due to industrial development coupled with rapid urbanization are likely to create a scope for market growth.

Key suggestions from the report:

• The demand for porcelain tiles is expected to witness a revenue-based CAGR of 7.3% over the estimated time owing to its wide applications in residential flooring applications and benefits including durability and enhanced aesthetics
• In Europe, the revenue for the glazed ceramic segment in 2019 stood at USD 20.3 billion and is projected to witness a revenue-based CAGR of 4.7% over the forecast period on account of the increasing popularity of eco-friendly building materials with high aesthetic value
• In 2019, non-residential flooring applications dominated the market with a share of 58.6% on account of high penetration of the product in office construction driven by superior aesthetics and durability offered by the product
• The ceramic tiles market in Asia Pacific is expected to witness a CAGR of 8.2% by revenue from 2020 to 2027 on account of the wide acceptance of the product in flooring applications
• In November 2018, Johnson Tiles extended its product portfolio with the introduction of Savoy Floor, a range of glazed porcelain floor tiles with a rustic concrete effect and geometric patterns which served as a strategy aimed at portfolio expansion.

Read 143 page research report with ToC on “Ceramic Tiles Market Size, Share & Trends Analysis Report By Product (Glazed Ceramic, Porcelain Tiles), By Application (Wall, Floor), By End Use, By Region, And Segment Forecasts, 2020 – 2027” at: https://www.grandviewresearch.com/industry-analysis/ceramic-tiles-market

Durability and enhanced lifespan offered by these tiles are likely to increase its utility in the high traffic commercial construction applications. Technological advancements in the manufacturing process have introduced customization options in color, size, texture, and dimensions, thus are likely to gain high traction in residential and non-residential building renovation projects.

Key players in the market such as Tarkett, Mohawk, RAK Ceramics, Johnson Tiles are engaged in the development of ceramic tiles with superior durability and customization options. In addition, compliance with the green building codes by major economies is expected to have a positive impact on product demand as these tiles are environment-friendly and can be recycled.

Grand View Research has segmented the global ceramic tiles market on the basis of product, application, end use, and region:

• Ceramic Tiles Product Outlook (Volume, Million Square Meters; Revenue, USD Million, 2016 – 2027)
  • Glazed ceramic
  • Porcelain tiles
  • Scratch free ceramic tiles
  • Others
• Ceramic Tiles Application Outlook (Volume, Million Square Meters; Revenue, USD Million, 2016 – 2027)
  • Wall
  • Floor
  • Others
• Ceramic Tiles End-use Outlook (Volume, Million Square Meters; Revenue, USD Million, 2016 – 2027)
  • Residential
  • Non-residential
• Ceramic Tiles Regional Outlook (Volume, Million Square Meters; Revenue, USD Million, 2016 – 2027)
  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • U.K.
    • France
    • Spain
    • Turkey
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Central & South America
    • Brazil
    • Argentina
  • Middle East & Africa
    • Saudi Arabia

Find more research reports on Specialty Glass, Ceramic & Fiber Industry, by Grand View Research:

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• Building Thermal Insulation Market – Increasing residential and commercial application of the product to reduce the overall energy costs, coupled with rising awareness pertaining to energy conservation is expected to drive the growth.