Strategies Adopted by the Players to Achieve Growth in the Ceramic tiles Market
Posted by Robin White on July 2nd, 2019
Ceramic tiles can be defined as a ceramic surface unit, made from clay or a mixture of clay and other ceramic materials which find applications in floors, walls, and roofs. It plays a vital role in enhancing the aesthetics of residential and commercial construction. The ceramic tiles market is estimated at USD 227.89 Billion in 2018 and is projected to reach USD 320.06 Billion by 2023, at a CAGR of 7.03%. The demand for ceramic tiles is expected to be driven by factors such as their ease of maintenance, high durability, water & moisture resistance, and aesthetic appeal. Therefore, they find application in several residential as well as non-residential spaces.
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The ceramic tiles market is led by major players such as Mohawk Industries (US), Siam Cement (Thailand), Grupo Lamosa (Mexico), Kajaria Ceramics (India), and China Ceramics (China). Extensive product portfolio, coupled with a network of facilities across the globe, contributes toward the leading position of these market players. These players have adopted various strategies to expand their global presence and increase their market share. New product launches, expansions, mergers & acquisitions, and partnerships are some of the major strategies adopted by the market players to achieve growth in the ceramic tiles market.
The duration 2014-2018 witnessed several new product launches in the ceramic tiles market by key players in order to strengthen their product portfolio and cater to the new application areas. Mergers & acquisitions were the second-most adopted key strategies by market players to expand their geographical reach and enhance their manufacturing capabilities. The increase in demand for ceramic tiles with the rise in construction activities in emerging markets has encouraged companies to adopt these strategies.
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Mohawk Industries is one of the key manufacturers of ceramic tiles. Its extensive ceramic tiles product portfolio caters to a variety of application areas in the construction industry. The strong global presence and adoption of growth strategies such as mergers & acquisitions and expansions have ensured its leading position in the market. The acquisition of KAI Group (Bulgaria) in 2015 has further strengthened its market presence and product portfolio in Europe. In June 2017, the company expanded its ceramic tiles manufacturing operations in Dickson, Tennessee by opening a second plant. This expansion is expected to support the demand for Mohawk’s commercial ceramic tiles.
Grupo Lamosa is a manufacturer and distributor of ceramic products for wall and floor coverings in North America, South America, and Central America. It operates through ceramic (floor & wall tile) and adhesive segments. The increasing demand for ceramic tiles has led the company to expand its facilities to provide efficient services. It aims at the consolidation of its position in the global ceramic tiles market through a number of strategic acquisitions. For instance, in 2016, the company acquired Cerámica San Lorenzo (Argentina), a manufacturer and distributor of wall & floor tiles for USD 230 million. The acquisition helped Grupo Lamosa strengthen its presence in South America.
