Skip to main content

The residential construction industry is estimated to play a key role in the ceramic tiles market


The residential segment is projected to dominate the ceramic tiles market through 2023. With the improvement in macroeconomic conditions globally, the demand for new constructions has increased, owing to which strong growth has been witnessed in new housing projects. Furthermore, factors such as a rise in renovation & remodeling activities and a rise in population & rapid urbanization are expected to drive the growth of the ceramic tiles market in the coming years. MarketsandMarkets projects that the global ceramic tiles market size will grow from USD 227.89 billion in 2018 to USD 320.07 billion by 2023 at a CAGR of 7.03%. Rapid industrialization and an increase in investments in the construction industry are expected to be the major drivers of the ceramic tiles market.
On the basis of application, the market for ceramic tiles is segmented into floor, wall, roof, and others (ceiling and countertop). The floor segment is expected to be the fastest-growing segment of the ceramic tiles market from 2018 to 2023. Ceramic tiles are employed in the interior as well as the exterior flooring of buildings to meet the requirement of decoration or aesthetics. The application of ceramic tiles on floors ranges from bathrooms and kitchens in households to laboratories, restaurants, medical centers, shopping centers, schools, and government buildings. Their low cost and easy installation also contribute to their growing popularity in a range of residential and non-residential applications.
On the basis of construction type, the new construction segment is projected to be the fastest-growing segment from 2018 to 2023. The new construction segment dominated the ceramic tiles market due to the growing concerns about the rising carbon footprint in the environment, mainly due to the massive energy consumption by the building industry, which, in turn encourage governments across regions to roll out regulations against the use of non-eco-friendly construction materials and to ensure sustainable building practices. Installation of ceramic tiles in new constructions not only guarantees lesser energy consumption but also eliminates the need for frequent tile replacement. Also, installing tiles in new construction projects is more cost-effective than replacing the same later, as the total cost of the tile and labor required for installation has to be paid only once.


Asia Pacific is projected to be the fastest-growing market in the global ceramic tiles industry, with China accounting for the largest market share in this region, followed by India. In terms of growth rate, Asia Pacific was followed by North America, Middle East & Africa, South America, and Europe. Increase in population, the rise in disposable income of the population, growth in new construction activities, and increase in investments in the residential and commercial sectors is expected to drive the demand for ceramic tiles in Asia Pacific.

Labels

Labels:

Comments

Post a Comment

Popular posts from this blog

Pipeline Monitoring System Market worth $19.2 billion by 2026

The global pipeline monitoring system market size is projected to grow from USD 13.2 billion in 2021 to USD 19.2 billion by 2026, at a CAGR of 7.8% from 2021 to 2026. The pipeline monitoring systems market is expected to witness high growth as a result of increased number of oil & gas leakages in production, pipelines, and storage tanks due to natural disasters and high pressure along with stringent government regulations for pipeline safety and security and expansion and upgradation of pipelines. The growth in trend of the development of new devices and solutions to monitor the pipeline performance, optimize the resources, automate the functions, and safeguard the operations fuels the growth of pipeline monitoring systems. To know about the assumptions considered for the study download the pdf brochure In terms of value, the metallic pipes segment is estimated to lead the pipeline monitoring system market in 2020. The metallic pipes segment accounted for the largest market share ...
Post a Comment
Read more

Opportunity: Investment in R&D activities in Perlite Market

Growing concerns about the environment have increased demand for the environment-friendly and sustainable use of perlite. Perlite manufacturers are focusing on developing advanced perlite products that can be directly used in green buildings and be recycled and reused. Manufacturers are investing in R&D activities and technologies to develop sustainable perlite materials that are cost-effective and at the same time provide mechanical strength. Players in this market are investing in research & development activities due to the increasing demand for perlite and to withstand intense competition. This increased investment in R&D activities to develop ecological perlite materials will provide growth opportunities for the perlite market in the next five years. The global perlite market size is estimated to grow from USD 1.4 billion in 2020 to USD 1.9 billion by 2025, at a CAGR of 6.3% during the forecast period. The market is projected to witness decent growth in the near futur...
Post a Comment
Read more

Pipeline Monitoring System Market Driver: Sustainable use of resources

The global pipeline monitoring system market size is projected to grow from USD 13.2 billion in 2021 to USD 19.2 billion by 2026, at a CAGR of 7.8% from 2021 to 2026. Pipeline monitoring is a single system that detects smaller leaks or damages securely and more reliably while simultaneously monitoring for third-party interference and other external pipeline threats to prevent leaks altogether. Pipeline monitoring system is widely used in end-use industries such as crude & refined petroleum, and water & wastewater, amongst others. Developing pipeline infrastructure requires a significant initial investment. Oil and gas reserves are depleting due to rising global energy demand. To address this challenge, businesses are developing highly efficient facilities to increase production technologies and lower operational expenses. Oil and gas businesses are now forced to install monitoring systems throughout their infrastructure. Due to the heightened terrorist threats and cyber-attacks...
Post a Comment
Read more