Ceramic Sanitary Ware Market Trends

Growth Drivers

• Burgeoning Population Across the World -  As the population is growing, the need of sanitary wares is expected to increase automatically. Thus, the increased demand of construction processes is further anticipated to fuel the demand of wooden flooring and expand its market size in the forecast period. As per World Bank, the total population in the world stood at 7.76 billion in 2021, up from 7.09 billion in 2012.
• High Demand of Residential Construction – The United States Census Bureau, stated that there were around 142,153,010 housing units in the U.S. as of June 2021.
• Rapid Development in Real Estate Sector – As per recent estimates, the revenue generation of real estate companies worldwide stood at approximately USD 10 billion in 2021.
• Development of Commercial Buildings –Buildings Energy Consumption Survey (CBECS), estimated that there were approximately 5.9 million U.S. commercial buildings in 2018. Further, the number of commercial buildings increased by 6% since the CBECS was last conducted in 2012.
• Presence of Buildings Across the World – As per data in 2020, there were 350,000 industrial buildings and 240,000 military buildings in the United States.

 Challenges

• High Costs of End Products
• Easy Availability of Alternatives
• Increased Costs of Investments and Infrastructures