Global Ceramic and Porcelain Tiles Market to Reach USD 2.7 Billion by 2024 with 6.4% CAGR Growth | TMR Study

The global ceramic and porcelain tiles market is poised for substantial growth, driven by shifting consumer preferences, rising disposable incomes, and expanding urbanization. Morocco's ceramic and porcelain tiles market, in particular, is expected to experience a notable uptick due to the growing sense of aesthetics among consumers, the surge in tourism, and improvements in lifestyle standards. With increasing demand for modern and elegant designs, the market is anticipated to achieve a valuation of USD2.7 billion by 2024, expanding at a CAGR of 6.4% from 2016 to 2024.

Ceramic and porcelain tiles are widely used in residential, commercial, and industrial applications due to their durability, aesthetic appeal, and ease of maintenance. These tiles are preferred for flooring, walls, and bathroom applications due to their water resistance, strength, and versatility. In Morocco, the market is characterized by a mix of local and international players offering products that cater to both economic and luxury segments.

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Growth Drivers

1. Changing Consumer Preferences: The shift towards modern and elegant porcelain tiles is a key factor driving market growth.
2. Rising Tourism: Increased tourism activities have fueled the demand for hotels and hospitality infrastructure, boosting tile demand.
3. Affordable Housing Projects: Government initiatives, such as efforts by the Ministry of Housing and Urban Policy (MHU) to develop residential housing, have created opportunities for low-cost ceramic tiles.
4. Urbanization and Lifestyle Improvements: Rising disposable incomes and a growing preference for aesthetically pleasing living spaces are propelling demand.
5. Water Resistance and Durability: The functional benefits of ceramic and porcelain tiles, such as water resistance and climate adaptability, further enhance their appeal.

Key Player Strategies

The competitive landscape in the ceramic and porcelain tiles market is fierce, with major players leveraging various strategies to gain market share. Key players include:
• Roca Sanitario
• CERA Sanitaryware Limited
• Jaquar
• Kohler Co.
• HSIL Hindware
• Grohe AG
• Hansgrohe Group

Strategies adopted by these players include:

Product Innovation: Launching exclusive and aesthetic designs tailored to consumer preferences.
Branding and Advertising: Engaging in aggressive marketing campaigns to enhance brand visibility.
Market Penetration: Expanding distribution networks and tapping into emerging markets within Morocco and beyond.

Market Demand

The demand for ceramic and porcelain tiles is on the rise due to the:
• Growing construction of residential and commercial properties.
• Increasing renovation activities of old buildings.
• Consumer preference for affordable yet durable and aesthetically pleasing flooring options.

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Applications

Ceramic and porcelain tiles are extensively used in:
1. Residential Construction: Flooring and wall tiles for homes.
2. Commercial Spaces: Offices, hotels, and retail spaces.
3. Bathrooms: High demand for bathroom tiles and sanitary ware.
4. Public Infrastructure: Airports, train stations, and government buildings.

Segmentations (Short)

By Type:
Glazed Porcelain, Full-Body Porcelain (30% market share in 2015), Ceramic Floor Tiles, Ceramic Wall Tiles, Thin Tiles

By Material:
Floor Tiles, Wall Tiles

Why Buy This Report?

1. Comprehensive Market Insights: Gain in-depth knowledge of market dynamics, trends, and growth drivers.
2. Strategic Decision-Making: Use actionable data to identify profitable opportunities and plan business strategies.
3. Competitive Analysis: Understand key players' strategies to stay ahead in the market.
4. Regional Focus: Detailed insights into the Morocco market, including regional hotspots like Casablanca.
5. Future Outlook: Explore forecasts and projections for the market up to 2024.
6. Application Insights: Understand diverse applications and their contribution to market growth.

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