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The Global Sanitary Ware Market to Develop with a CAGR of 4.01% by 2028

12-05-2022 02:09 PM CET | Industry, Real Estate & Construction

Press release from: Triton Market Research

Sanitary Ware Market

Sanitary Ware Market

Triton Market Research presents the Global Sanitary Ware Market report segmented by Application (Residential, Commercial), Sales Channels (Retail Distribution, Wholesale Distribution), Type (Toilets, Wash Basins, Urinals, Cisterns, Other Types), Material (Ceramic, Pressed Metal, Acrylic Plastic & Perspex, Other Materials), and Geography (Asia-Pacific, Europe, Latin America, North America, Middle East and Africa). It further discusses the Market Summary, Industry Outlook, Impact of COVID-19, Key Insights, Porter's Five Forces Analysis, Market Attractiveness Index, Vendor Scorecard, Key Market Strategies, Drivers, Challenges, Opportunities, Company Profiles, Research Methodology & Scope, Global Market Size, Forecasts & Analysis (2022-2028).

Triton's report puts forth that the global sanitary ware market is likely to expand with a CAGR of 4.01% in terms of revenue during the evaluated period 2022-2028. Whereas, in terms of volume, the market is likely to develop with a CAGR of 3.57% over the same period.

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With the growth in population and increased immigration, the demand for housing and commercial infrastructure has risen significantly. This is expected to drive the construction industry. Sanitary ware is largely used in construction activities. Therefore, the increase in infrastructure projects is expected to aid the growth of the sanitary ware market.

However, the prices of basic raw materials required to manufacture ceramic tiles are constantly fluctuating. This acts as a major challenge for the manufacturers, as it ultimately increases the production cost and reduces their profit margin. Therefore, the volatile prices of raw materials largely restrain the market growth.

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The market in the Asia-Pacific is expected to evolve at the fastest rate over the estimated period. China is presently the largest market in the region, accounting for the highest revenue share. Housing authorities in the country have launched a number of measures to begin the construction of low-cost housing units. They are heavily investing in these projects to consolidate the construction industry. This will fuel the demand for sanitary ware as well, ultimately boosting the market growth in the region.

The major companies profiled in this market comprise Toto Ltd, Cera Sanitaryware Limited, Roca Sanitario SA, Duravit AG, Grohe AG, Laufen Bathrooms AG, Rak Ceramics, Masco Corporation, Duratex, HSIL Limited, Lixil Group Corporation, Ideal Standard International, Villeroy & Boch AG, Jaquar Group, Elkay Manufacturing Company, Geberit AG, Corona, Fortune Brands Home & Security Inc, Lecico Egypt, and Kohler Co.

The high cost of manufacturing sanitary ware products and the need to comply with environmental standards are major barriers for new players that want to enter the market. This is why only a few players dominate the global market, which makes it reasonably fragmented and intense. The bigger players are increasing their market share via mergers, acquisitions, and new product development, which intensifies the rivalry.

For instance, UAE-based ceramic ware manufacturer, RAK Ceramics, established its new showroom in the United Kingdom in 2019 to expand its global footprint.

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