Vietnam Ceramic Tiles Market to Valuation of USD 2,967.7 Million By 2028 | Infinium Global Research

Infinium Global Research has added a new report on the Vietnam Ceramic Tiles Market. The report covers the analysis of the regional markets of Vietnam. Moreover, the report gives insights into the factors that affect the regional performance of the market in the short run and in the long run. The Vietnam ceramic tiles market is a customer intelligence and competitive study of the demand, forecasts, trends, and macro indicators in the Vietnam market. The dynamics include drivers, restraints, opportunities, political, and socioeconomic factors, technological factors, key trends, and future prospects. The Vietnam ceramic tiles market was valued at USD 1,962.5 Million in 2021 and is expected to reach USD 2,967.7 Million by 2028 and grow at a CAGR of 6.23% over the forecast period.

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Vietnam's ceramic tiles market is experiencing robust growth, driven by the nation's expanding population and rapid urbanization. According to the United Nations Population Division and the General Statistics Office of Vietnam, the country's population surpassed 98 million in 2021, marking an 11% increase from 2011 when it stood at approximately 88 million. This population surge is reshaping various industries, with the construction sector being notably influenced by this demographic shift. Increasing urbanization, in particular, is propelling the ceramic tiles market to new heights.

Population Growth Stimulates Demand

Vietnam's burgeoning population is a catalyst for numerous industries, creating a heightened demand for goods and services. The construction sector, in particular, has witnessed substantial growth in recent years. According to data from the Vietnam Steel Association (VSA) and the Vietnam General Statistics Office, the construction output in Vietnam surged from approximately USD 60 billion in 2018 to nearly USD 80 billion in 2021. This increase is closely tied to population growth, as the demand for both residential and non-residential buildings continues to rise. Consequently, construction activities have accelerated, leading to an increased demand for construction materials such as steel, concrete, paints, and ceramic tiles. Given their integral role in construction, ceramic tiles are experiencing a surge in demand, driven by the growing population's need for housing and infrastructure.

Rapid Urbanization Drives Demand Further

The urban population in Vietnam has expanded significantly in recent years, growing by approximately 37% from over 27 million in 2011 to about 37 million in 2021, according to data from the United Nations Population Division and the General Statistics Office of Vietnam. In 2021, the urban population accounted for approximately 38% of the country's total population. This urbanization trend can be attributed to the Doi Moi reforms and export-oriented industrialization policies, which have fueled the growth of the industrial sector in Vietnam. The favorable government policies and a booming industrial landscape have attracted a substantial portion of the population to cities. As the urban population continues to swell, the demand for construction, both new and renovation, remains high. Consequently, there is an increased need for construction materials, including ceramic tiles, to support the evolving urban landscape.

Challenges Posed by Fluctuating Costs

Ceramic tile manufacturing is a power-intensive process that relies on fuel and electricity. However, the prices of these essential resources are subject to fluctuations. For example, the price of alumina, a key raw material for ceramic tiles, has seen significant fluctuations in recent years. The industry has also grappled with fluctuating fuel prices. For instance, gasoline prices in Vietnam rose from approximately USD 0.5 per liter in mid-2020 to USD 1.3 per liter by mid-2022. Such fluctuations in raw material and utility costs pose challenges for ceramic tile manufacturers, impacting their operational margins.

Digital Printing Technology Drives Innovation

In response to market dynamics, the ceramic tiles industry is embracing digital printing technology, giving rise to a new trend in the sector. This innovation allows for the incorporation of intricate designs and patterns onto ceramic tiles' surfaces. Digitally printed tiles are not only aesthetically pleasing but also easy to maintain and exceptionally durable. They are created using graphic artwork, enabling the production of high-resolution impressions. These tiles also exhibit superior physical properties, including resistance to moisture, fire, and adverse weather conditions. Additionally, they are cost-effective, making them a popular choice among consumers.

Market players are actively investing in digital printing technology to expand their capabilities and enhance their product offerings. For example, Toko Vietnam imported DURST True Ceramic Color Printers from Italy, showcasing the industry's commitment to innovation. As the adoption of digitally printed tiles continues to grow, it is expected to further drive the growth of Vietnam's ceramic tiles market in the coming years.

In summary, Vietnam's ceramic tiles market is experiencing remarkable growth driven by population expansion, urbanization, and innovation in digital printing technology. These factors, coupled with the challenges posed by fluctuating costs, create a dynamic landscape that offers both opportunities and hurdles for industry players.

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Table of Content

Chapter 1. Report Overview

1.1. Report Description

1.2. Research Methods

1.3. Research Approaches

Chapter 2. Executive Summary

Chapter 3. Market Overview

3.1. Introduction

3.2. Market Dynamics

3.2.1. Drivers

3.2.2. Restraints

3.2.3. Opportunities

3.2.4. Challenges

3.3. PEST-Analysis

3.4. Porter's Diamond Model for Vietnam Ceramic Tiles Market

3.5. IGR-Growth Matrix Analysis

3.6. Competitive Landscape in Vietnam Ceramic Tiles Market

Chapter 4. Vietnam Ceramic Tiles Market by Product

4.1. Floor Tiles

4.2. Wall Tiles

Chapter 5. Vietnam Ceramic Tiles Market by Raw Material

5.1. Feldspar

5.2. Bentonite

5.3. Kaolin

5.4. Silica Sand

Chapter 6. Vietnam Ceramic Tiles Market by Application

6.1. Commercial

6.2. Residential

Chapter 7. Company Profiles

7.1 Competitive Landscape in the Vietnam Ceramic Tiles Market

7.2 Companies Profiles

7.2.1 Viglacera Corporation-JSC

7.2.1.1 Company Overview

7.2.1.2 Company Snapshot

7.2.1.3 Product Portfolio

7.2.1.4 Recent Developments

7.2.2 DONGTAM GOUP

7.2.2.1 Company Overview

7.2.2.2 Company Snapshot

7.2.2.3 Product Portfolio

7.2.3 Bach Thanh Ceramic Co., Ltd

7.2.3.1 Company Overview

7.2.3.2 Company Snapshot

7.2.3.3 Product Portfolio

7.2.4 MIKADO TECHNOLOGY AND TRADING JOINT STOCK COMPANY

7.2.4.1 Company Overview

7.2.4.2 Company Snapshot

7.2.4.3 Product Portfolio

7.2.5 TASA Ceramic Joint Stock Company

7.2.5.1 Company Overview

7.2.5.2 Company Snapshot

7.2.5.3 Product Portfolio

7.2.6 Toko Vietnam Co. Ltd.

7.2.6.1 Company Overview

7.2.6.2 Company Snapshot

7.2.6.3 Product Portfolio

7.2.7 TTC Ceramic

7.2.7.1 Company Overview

7.2.7.2 Company Snapshot

7.2.7.3 Product Portfolio

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Reasons to Buy this Report:

=> Comprehensive analysis of regional markets of Vietnam ceramic tiles.

=> Complete coverage of all the product types and application segments to analyze the trends, developments, and forecast of market size up to 2028.

=> Comprehensive analysis of the companies operating in this market. The company profile includes an analysis of the product portfolio, revenue, SWOT analysis, and the latest developments of the company.

=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus on to invest, consolidate, expand, and/or diversify.

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