Ceramic Tiles Market to exceed $134.66 Bn by 2027

Ceramic Tiles Market size is estimated to surpass USD 134 billion by 2027, according to a new research report by Global Market Insights Inc.
 

Rising population, growing renovation & refurbishment activities, increasing disposable income, and investments in commercial and residential sectors are fueling the ceramic tile industry growth. The growing organized retail sector to meet the consumer demands in the emerging economies especially in India and China is creating business growth opportunities. However, the volatility of commodity prices and rising regulations and tariffs are market demand.
 

Ceramic tiles are widely used in commercial and residential sectors due to their valuable added features as well as indirect monetary benefits. They effectively reduce the cost of paints and coatings required for the walls. Moreover, the tiles also offer negligible maintenance costs after installation.
 

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The wall tiles segment will boost demand

Based on product, wall tiles are likely to grow at around 5.6% CAGR through 2027. Ceramic wall tiles are available in several colors and are resistant to sunlight, enabling them to retain their color without fading for a long period of time. Additionally, they are widely preferred in kitchens, as they are attractive and easy to clean. Increasing consumer awareness about covering the walls with tiles owing to their quality and aesthetic benefits will augment ceramic tiles market revenue. Increasing construction activities in Asia Pacific and the MEA will propel the wall ceramic tiles demand.
 

Browse key industry insights spread across 110 pages with 209 market data tables & 23 figures & charts from the report, “Ceramic Tiles Market Size By Product (Floor Tiles, Wall Tiles), By Usage (Repairs & Renovation, New Construction), By End-user (Residential, Commercial, Institutional), COVID-19 Impact Analysis, Regional Outlook, End-user Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/ceramic-tiles-market
 

In terms of end-use, the commercial sector is anticipated to generate over USD 33 million revenue by 2027, with a growth rate of about 5.5%. Rising product demand to provide aesthetic look in commercial buildings such as shopping malls, airports, and workplaces. Furthermore, increasing government spending on improving their public infrastructure, such as railway stations and airports, will positively influence the industry statistics. The rapidly growing urbanization in the emerging economies is projected to enhance the product demand.
 

Renovation activities in the construction sector in Europe

Europe tends to experience a positive demand for ceramic tiles in the construction market. Increasing interior renovation spending by customers in the European countries will spur the ceramic tiles market demand. Industrial development in Eastern Europe will further complement market revenue. The regional market is being presented with ample of growth opportunities in terms of the growing demand for eco-friendly tiles and the booming construction industry. Additionally, the rising GDPs of several nations and changing trends in home furnishing and lifestyle are also expected to drive the business.
 

Key industry participants are Crossville, Inc., China Ceramics Co., Ltd., Florida Tile Inc., Mohawk Industries Inc., Siam Cement Group, Saloni Ceramics, and Ras Al Khaimah Ceramics.