Dublin, Feb. 19, 2019 (GLOBE NEWSWIRE) -- The "Ceramic Tiles Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024" report has been added to offering.
The global ceramic tiles market was worth around US$ 70.9 Billion in 2018, representing a CAGR of 9.1% during 2011-2018. The market is further projected to cross US$ 107.2 Billion by 2024, exhibiting a CAGR of 7.2% during 2019-2024.
Owing to their lightweight, anti-skid and anti-bacterial properties, these tiles are preferred for use in hospitals, hotels, laboratories and pharmaceutical manufacturing facilities where hygiene is of prime importance. Further, due to their aesthetic appearance and availability of different product variants, ceramic tiles have emerged as a good alternative to hardwood and other flooring products like marble, concrete, etc.
Global Ceramic Tiles Market Drivers:
Ceramic tiles provide different glaze options and styles which range from traditional to western. With consumers seeking stylish and less expensive flooring options, the demand for ceramic tiles has significantly increased over the past few years.
Ceramic tiles manufacturing is an environment-friendly process as they are mostly composed of naturally occurring minerals. Recent technological advancements have also enabled the manufacturers to further reduce the emissions of carbon and other harmful gases during the production of ceramic tiles.
The arrival of new processes, such as incorporation of spray drying of clays, pressing and firing of tiles, etc., and special equipment for selection, manipulation and control, have enabled the manufacturers to produce ceramic tiles in different shapes, sizes and textures.
Rapid industrialization, rising urbanization rates and inflating per capita income, especially in the emerging economies such as China, India, Brazil and Russia, have resulted in the increasing construction in the residential, commercial and industrial sector, thereby, escalating the demand for flooring products like ceramic tiles.
Breakup by Product Type:
On the basis of product type, ceramic floor tiles dominate the market, accounting for more than a half of the total market. These tiles find applications in the residential and institutional sectors on account of their low cost, ease-of-use, and availability in varied shapes and sizes. Ceramic floor tiles are followed by wall tiles and others.
Breakup by Application:
According to the ceramic tiles market report, residential sector represents the leading segment, holding the majority of the global market. Owing to the low cost and aesthetic appearance of the ceramic tiles, they are majorly utilized in apartments, high-rise buildings and individual houses. Other major segments include commercial applications and replacements.
Regional Insights:
On a geographical front, China is the largest producer, consumer and exporter of ceramic tiles. This can be attributed to the wide availability of raw materials and low labor costs in the region. China is followed by Brazil, India, Vietnam and Indonesia.
Competitive Landscape:
The market is fragmented with the presence of a large number of unorganized manufacturers. Some of the biggest players operating in the market are:
Mohawk Industries Inc.
Siam Cement
Lamosa
RAK Ceramics
Ceramica Carmelo Fior
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