Ceramic Tiles Market Trends
Growth Drivers
- Growth in Middle Income of Burgeoning Population – Along with the rapid multiplication of population the income level has also been increased consecutively. As a result, people has been adopting ceramic tiles for their infrastructures owing to its advantages such as aesthetic looks, stunning finishes and increased durability. According to World Bank, the total population with middle income in the world rose from 5.51 Billion in 2015 to 5.86 Billion in 2021.
- Expansion of Real Estate Sector – As per recent estimates, the revenue of real estate companies worldwide stood at USD 9.5 billion in 2021.
- Increased Commercial Building Construction – The data released by Commercial 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.
- Rapid Construction of Buildings Across the World – As per data in 2020, there were 350,000 industrial buildings and 240,000 military building in the United States.
Challenges
- Stringent Environmental Policies
- Long Production Cycles
- Constant Fluctuation in Prices of Raw Materials
Ceramic Tiles Market: Key Insights
Regionally, the global ceramic tiles market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America is projected to hold the largest market share by the end of 2033. The rapid expansion of construction industry in the region is attribute to increase the sales of ceramic tales in the forecast period. In U.S. economy, construction industry has more than 745,000 employers and over 8 million employees. Further, the growth in Gross Domestic Product (GDP) level and development rate has propelled the high investments and spending on construction processes. According to a latest report, the U.S. spending on private, public and commercial sector construction was totaled to be approximately USD 1 trillion, USD 350 billion and USD 30 billion respectively.
The global ceramic tiles market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
6.9% |
|
Base Year Market Size (2024) |
USD 114.68 billion |
|
Forecast Year Market Size (2037) |
USD 272.06 billion |
|
Regional Scope |
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