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.
Rising demand for flooring in commercial buildings, residential apartments, airports, bus stations, and railways stations are expected to drive the global ceramic market towards healthy expansion. The global ceramic tiles market is expected to grow at an impressive rate 9.7% CAGR during the forecast period – 2018 to 2026. The global ceramic market stood at US$ 81.50 bn in 2017, and is expected to reach up to US$185.71bn by the end of 2026.
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.
Moreover, growing demand for beautification of homes, offices, and commercial spaces is likely to boost the demand for ceramic tiles in the global market. Interior designing is very much in trend which may provide ample growth opportunities to the global ceramic tiles market in upcoming years. Alternatively, there various new designs and customization of the tiles available in the market. This is expected to fuel the growth in the global ceramic tiles market.
Carbon Emission during the Making of Ceramic to Restrain Market Growth
Carbon emission during the production of ceramic tiles may restrain growth of the ceramic tiles market. Ceramic tiles use silica and clay as their raw materials which produces dust and emits greenhouse gases and particulate matter. This is expected to act as a factor restraining growth in the global ceramic tiles market.
Nonetheless, the global ceramic tiles market is expected to grow during the forecast period. Their properties such as fire resistance, thermally efficiency, and anti-corrosive are factors that sustain demand for them.