Global Ceramic Tiles Market is anticipated to reach US$ 178.16 Bn by 2024

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As the competition in the global ceramic tiles market intensifies, leading manufacturers have aggressively taken up the introduction of new designs and development of their distribution channels, finds a new report by Transparency Market Research (TMR). The market demonstrates a highly fragmented competitive landscape, with top five players collectively holding just about 8% of the overall market.
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With the robust economic rise, rapid urbanization has taken over significantly across the world. Most widely influenced by this trend are emerging economies in Asia Pacific, the effect of which can be seen in the increased renovation of old constructions as well as new construction activities in these regions. China, India, and several other ASEAN nations are leading this trend with increased commercial construction activities, resulting in a high demand for ceramic tiles. Residential construction undertakings are also a showing significant rise, increasing the consumption of these tiles in these countries.
Increasing Aesthetic Consciousness Boosts Demand in Brazil, Turkey, and GCC
“The volume sale of ceramic tiles will experience a boost in various other nations, such as Brazil, Turkey, and countries in the Gulf Cooperation Council (GCC) too. The people in these countries are becoming aesthetically more conscious as their increasing disposable income is letting them spend on the beautification of their homes and workplaces, leading to an augmented demand for ceramic tiles,” says a TMR analyst.
Although the market looks thriving overall, the increasing volatility in raw material prices will severely impact the demand for ceramic tiles in the coming years. Identified as an after effect of the economic crisis, the prices of raw materials such as kaolin, feldspar, silica sand, and bentonite have increased rapidly after 2008 and have been rising since then. Additionally, the heavy consumption of these materials in other applications such as glass, refractories, paints, thermal and electrical insulation, and food packaging has augmented their prices further after 2010.
Residential Replacements Remains Biggest Consumer of Ceramic Tiles
According to TMR, the opportunity in the worldwide ceramic tiles market is likely to expand at a healthy CAGR 9.80% during the period from 2016 to 2024 and increase from US$76.81 bn in 2015 to US$178.1 bn by the end of the forecast period. Currently, Asia Pacific is the biggest consumer of ceramic tiles across the world. The region accounted for a demand share of 65.6% in 2015, which is projected to increase to 66.5% by the end of 2024.
In 2015, ceramic tiles recorded maximum consumption in residential replacement. The trend is projected to continue over the forecast period. Floor tiles enjoy the highest demand among all ceramic tile types. This segment is poised to attract more demand in the coming years, owing to an upsurge in residential construction activities in developing economies.
The study presented here is based on a report by Transparency Market Research (TMR) titled “Ceramic Tiles (Floor Tiles, Wall Tiles, and Others) Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016–2024.”
The report segments the global ceramic tiles market as follows:
-Ceramic Tiles Market – Product Analysis
-Floor Tiles
-Wall Tiles
-Others (Including Ceiling Tiles, Roofing Tiles, etc.)
-Ceramic Tiles Market – Application Analysis
-Residential Replacement
-Commercial
-New Residential
-Others (Including Industrial, etc.)
-Ceramic Tiles Market – Regional Analysis
-North America
-U.S.
-Rest of North America
-Europe
-Germany
-France
-U.K.
-Italy
-Spain
-Turkey
-Rest of Europe
-Asia Pacific
-China
-Japan
-ASEAN
-Rest of Asia Pacific
-Latin America
-Brazil
-Rest of Latin America
-Middle East & Africa (MEA)
-GCC
-South Africa
-Rest of Middle East & Africa

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