Ceramic Tiles Market worth 0.06 billion by 2023 at a CAGR of 7.03%

Posted by Robin White on November 27th, 2019

The ceramic tiles market is projected to witness steady growth in the next few years, due to the rise in new construction activities resulting from rapid industrialization and urbanization. Increase in investments in the construction industry, the rise in population, and growing focus toward interior decoration.

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The residential segment is expected to grow at a higher CAGR in the global ceramic tiles market during the forecast period.
The residential segment is projected to be the faster-growing segment during the forecast period owing to the growing demand for aesthetic ceramic tiles and a growing trend toward interior decoration. Housing renovation and maintenance have increased steadily in the recent past and are expected to further increase in the coming years, owing to the increasing disposable income of the population. All these factors are expected to fuel the demand for ceramic tiles in the residential sector.

Target Audience:
Raw material suppliers
Ceramic tiles manufacturers
Ceramic tiles material suppliers and distributors
End users
Associations and industry bodies
Government & regulatory bodies

Ceramic tiles are used in various construction types such as in new construction and replacement & renovation activities. The new construction segment is projected to dominate the ceramic tiles market, in terms of value, through the forecast period. It is easier and more cost-efficient to install ceramic tiles in new constructions than in replacement & renovation activities.
The growth of the ceramic tiles market is hindered by the volatility in the prices of raw materials. Fluctuations in the prices of raw materials such as silica sand, kaolin, feldspar, and bentonite increase the capital involved in the entire manufacturing process of ceramic tiles. Rising costs and unexpected deviations in raw material prices destabilize the supply chain and render it difficult for manufacturers to sustain in the competitive ceramic tiles market.

The global ceramic tiles market is dominated by players such as Mohawk Industries (US), Kajaria Ceramics (India), China Ceramics (China), Siam Cement (Thailand), and Grupo Lamosa (Mexico).
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