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Ceramic Sanitary Ware Market Report 2024 - Ceramic Sanitary Ware Market Size, Analysis And Trends
Ceramic Sanitary Ware Market
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According to The Business Research Company's, The ceramic sanitary ware market size has grown strongly in recent years. It will grow from $34.67 billion in 2023 to $37.21 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to urbanization and housing development, improvements in living standards, water conservation and sustainability, rise in disposable income, changing consumer preferences.
The ceramic sanitary ware market size is expected to see strong growth in the next few years. It will grow to $49.35 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to shift in consumer lifestyles and preferences, regulatory emphasis on standards, expansion in emerging markets, economic development and disposable income. Major trends in the forecast period include smart and connected fixtures, customization and personalization, sustainable and eco-friendly solutions, health and hygiene features, innovative materials and finishes, smart and IoT-integrated products.
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Market Drivers and Trends:
A rise in demand for the construction and building sectors is expected to propel the growth of the ceramic sanitary ware market going forward. The construction sector refers to the sector of industry and trade that deals with creating, maintaining, and repairing infrastructures. Ceramic sanitary ware is used in the building and construction industry to ensure that cleanliness is maintained in the home, business, or any other structure being created, and therefore it must be carefully designed and planned. Hence, the rising demand for construction and building will rise the demand for ceramic sanitary ware. For instance, in June 2021, according to a report published by Canada's national statistical agency, the investment in building construction increased from $14,294 million in April 2019 to $19,273 million in 2020. Furthermore, in the 2022 U.S. Construction Cost Trends report, the U.S., total construction spending has increased by 16% since the pandemic's onset. Therefore, the rise in demand for the construction and building sectors is driving the growth of the ceramic sanitary ware market.
The introduction of technologically advanced products is a key trend gaining popularity in the ceramic sanitary ware market. Major companies operating in the market are developing products with advanced technologies to sustain their position in the ceramic sanitaryware market. For instance, in April 2023, Somany Ceramics, an India-based company that manufactures and sells tiles, sanitary ware, and bath fittings, launched an All-New Range Of Smart Sensing Sanitary and Toilet Products. Featuring touchless operation, adjustable water pressure, self-cleaning technology, and diverse faucet options, these products address hygiene concerns while providing comfort in various washroom environments. These advanced features contribute to the ceramic sanitary ware market by revolutionizing bathroom spaces, offering enhanced convenience, safety, and hygiene for customers, thereby driving the demand for these cutting-edge solutions.
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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
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• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
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• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Siam Cement Group Public Company Limited, LIXIL Corporation, Kohler Co., TOTO Ltd., Foshan Huida Bathroom Co. Ltd., Geberit AG, Lecico Egypt S.A.E., Roca Sanitario S.A., American Standard Brands, Hansgrohe SE, Villeroy & Boch AG, Porcelanosa S.A., R.A.K. Ceramics, Duravit AG, Duratex S.A., Jaquar & Company Private Limited, Kajaria Ceramics Limited, Simpolo Ceramics, Somany Ceramics Limited, Cersanit S.A., Sonex Ceramic Pvt. Ltd., Cotto Tile, Ideal Standard International SA, Eros Sanitaryware, Grohe AG, Laufen Schweiz AG, Eczacibasi Yapi Ürünleri, KERAMAG GmbH, Inax Corporation, El Molino Cerámica
Ceramic Sanitary Ware Market 2024 Key Insights:
• The ceramic sanitary ware market size is expected to see strong growth in the next few years. It will grow to $49.35 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%.
• Growing Construction Sector Drives Ceramic Sanitary Ware Market
• Rising Popularity Of Technologically Advanced Ceramic Sanitary Ware
• Asia-Pacific was the largest region in the ceramic sanitary ware market share in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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