Ceramic Tiles Market will exhibit 7.20% CAGR between 2021 and 2031

Sales outlook for ceramic tiles market will remain positive with counties including China, India, Italy, and the U.S. emerging as key exporters and producers. Despite restrictions imposed amid COVID-19 outbreak, the market continued showcasing a steady growth trajectory.

ESOMAR-certified firm Future Market Insights (FMI) analyzes the global ceramic tiles market in its recent study. As per the report, the market will continue exhibiting healthy growth, expanding at a 7.20% CAGR, reaching US$ 84.8 Bn in 2021.

The analysis has estimated sales to rise at 2.50% year on year rate in 2021. Spurred by increasing growth opportunities, overall sales volume is anticipated to reach 32,870 Sq. Mtr. by 2030.

As per the study, the demand for ceramic tiles is consistently rising owing to rapid urbanization across developing countries and growing demand for aesthetically pleasing and sustainable tiles for home décor.

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Additionally, demand for visual appeal in ceramic tiles is driving product innovations such as the development of natural and wooden finish designs with stain resistance and added durability. These developments are expected to contribute towards overall expansion of the market.

Rising residential replacement projects in countries such as the U.S., the UK, Italy, and Germany are fueling demand for ceramic tiles as they support green building projects and offer long-term durability at low costs.

In developing countries such as China, India, Japan, and Brazil, growth can be attributed to increasing investments in infrastructure, migration of people from rural areas to cities, and government-backed developments in healthcare, education, and commercial facilities.

"Rapid expansion of infrastructure, coupled with growing demand for ceramic tiles because of their style, sustainability, and durability will continue driving sales in the upcoming years," says the FMI analyst.

Key Takeaways from Ceramic Tiles Market Survey

- By product type, sales of floor tiles will gain momentum throughout the assessment period.
- Residential replacement segment will remain dominant in terms of application, owing to increasing projects across various countries.
- The U.S. is anticipated to witness healthy growth, expanding at a 6.50% CAGR between 2021-2031.
- Italy will lead the market in Europe, owing to high export volume, exhibiting market expansion at 5.70% CAGR.
- South Korea and Japan will account for 13% of the total market share.

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Competitive Landscape

RAK Ceramics, Crossville, Inc., Atlas Concorde, Saloni Ceramica, Porcelanosa Grupo, Gruppo Ceramiche Ricchetti, Florida Tile, Mohawk Industries, Kajaria Ceramics, and China Ceramics Co., Ltd. are among top manufacturers of ceramic tiles in the market, accounting for 7-9% of market share in 2021.

Key strategies leveraged by leading players include product innovations, sustainable manufacturing practices, collaborations, and acquisitions to add artistic value to ceramic tiles designs and expansions of production facilities for increased production. For instance:

- In 2019, RAK Ceramics introduced Serpeggiante range of vitrified tiles straight from Italy, a stylish and excellent stone for countertops, walls, and floors that were used in sculptures and architecture in ancient Italy.
- In January 2021, Mohawk Tiles announced its operation expansion in Carroll County, Virginia, adding 19,000 square feet to its facility in order to fulfill the increasing demand for ceramic tiles.

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Key Segments Covered

Ceramic Tiles Market - Product Segment Analysis
Floor Tiles
Wall Tiles
Other Tiles

Ceramic Tiles Market - Application Analysis

Residential Replacement
Commercial
New Residential
Others (facades, countertops etc.)

Contact:

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware - 19713, USA
T: +1-845-579-5705
Website: https://www.futuremarketinsights.com
Reports: https://www.futuremarketinsights.com/reports/ceramic-tiles-market

About FMI

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.