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Vitrified Tiles Market Exhibit a Remarkable CAGR of 5.0% and is expected to reach $757.0 million by 2030
Vitrified Tiles Market
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The global vitrified tiles market was estimated at $448.6 million in 2020 and is expected to hit $757.0 million by 2030, registering a CAGR of 5.0% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and varying market trends.
Rise in urbanization & industrialization in developing countries, surge in expenditure on home remodeling, and developments in the construction sector drive the growth of the global vitrified tiles market. On the other hand, volatile raw material prices and popularity of natural stones for flooring impede the growth to some extent. However, Implementation of advanced digital printing is expected to create lucrative opportunities in the industry.
COVID-19 scenario-
Extended lockdown measures across the world and delay in production and manufacturing of vitrified tiles impacted the global vitrified tiles market negatively.
However, as the global situation is getting ameliorated at a slow & steady pace, the market is anticipated to revive soon.
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The global vitrified tiles market is analyzed across product type, distribution channel, application, end user, and geography. By product type, the glazed vitrified tiles segment contributed to the major share in 2020, accounting for nearly two-fifths of the global vitrified tiles market, and is expected to lead the trail during the forecast period. The same segment is also anticipated to cite the fastest CAGR of 6.0% from 2021 to 2030.
By distribution channel, the offline segment held the highest market share in 2020, holding more than half of the global market. The online segment, however, is projected to manifest the fastest CAGR of 5.6% from 2021 to 2030.
By region, Asia-Pacific held the highest market share in terms of revenue 2020, garnering more than half of the global vitrified tiles market. The same region is also expected to showcase the fastest CAGR of 5.7% throughout the forecast period. The other provinces discussed in the report include North America, Europe and LAMEA.
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Leading Players:
The key market players analyzed in the global vitrified tiles market report include Altaeco S.p.A, Aparna Enterprises Ltd, Asian Granito India Limited, SCG Ceramics, ABK Group, Casalgrande Padana spa, Ceramica Del Conca spa, Lamosa Group, Mohawk Industries, Inc., Kajaria Ceramics Limited. These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.
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