According to a market analysis by FMI, the ceramic tiles industry is expected to maintain a steady growth trajectory with a projected Compound Annual Growth Rate (CAGR) of 7.2% through 2033. This expansion is set to double the industry’s size, with its market value anticipated to increase from US$ 97.45 billion in 2023 to an impressive US$ 195.31 billion by 2033. This robust growth outlook signifies the enduring demand and significance of ceramic tiles in various construction and interior design applications.
Ceramic tiles are generally used to construct several buildings, like offices, schools, and housings. Also, the emerging trend of marble floors and the renovation of buildings replacing home décor items, paints, and metal slabs with ceramic tiles is anticipated to enlarge the ceramic tiles market size.
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The industry is also underpinned by government initiatives to augment infrastructure growth. Other forces like foreign investment, surging per capita income, and swelling population further contribute to the demand for ceramic tiles in buildings.
Customers can opt for ceramic tiles from an extensive collection based on the desired color, shape, design, and size of these tiles. Also, ceramic tiles are observing high adoption due to soaring urban population density and surging investment in commercial projects.
The commercial population looks for an extra modern touch to ceramic tiles that can be accomplished via frying, spray drying, and other methods since urban areas are witnessing surged urbanization and modernization,
Manufacturers are expanding their businesses by releasing new products and employing easy installation techniques to bank on the exploding commercial sector. For the high-traffic commercial sectors, merchants are launching extremely durable and affordably-priced ceramic flooring tiles.
Local and international manufacturers are capitalizing on the advancing technologies in the ceramic tiles industry that tout innovation throughout the board. Over the past few years, technological upgrades in sizes and decoration have changed the face of the ceramic tiles industry.
Players are now able to deliver sophisticated designs, great realism, new shapes, sizes, thicknesses, shapes, and improved performance to capture customers with high budget.
Top Highlights from the FMI’s Analysis of the Ceramic Tiles Industry
- South Korea’s market for ceramic tiles is gaining ground owing to the increasing construction of buildings like offices, housings, and schools.
- India is estimated to accelerate at a significant CAGR. The market expansion can be credited to the government initiatives to boost infrastructural growth.
- China is expected to witness significant CAGR escalation supported by the increasing foreign investment in the country.
- Japan is expected to portray significant investment options for leading businesses. The surging construction of attractive buildings for shopping malls, airports, and offices is expected to drive the regional growth.
- Australia emerges as a leading business option due to heightened investment in the country’s commercial projects.
Developments Setting the Trends in the Ceramic Tiles Industry
- In July 2023, WOW introduced the Moorish ceramic tile collection. The Casbah line comes in a spectrum of colors, influenced by the green shades of nature and blue tones of the Med Sea.
- In June 2022, Qutone Ceramic introduced a new collection of tiles called ‘Fastrack’ and renovated its existing product portfolio at Spectrum’ 22 in New Delhi. Spectrum’ 22 witnessed an exclusive product launch and channel partners meet. The collection reveals exclusive designs in several finishes aimed for the modern-day interiors.
- In September 2021, Kajaria Ceramics, a prominent manufacturer of ceramic and vitrified tiles, introduced a new collection of tiles in J&K. The new collection was presented in Taj Vivanta Srinagar and was unveiled by a new royal collection of tiles in J&K.
- Taeyoung, a ceramic firm, planned to establish two Compacta sorting lines in January 2021, outfitted with the Miltigecko system and Falcon Millennium palletizer.
- Sujeong Ceramics, a South Korean company, started providing free estimation services for goods like toilet bowls, tiles, faucets, sinks, etc.
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Key Segments Covered in the Ceramic Tiles Industry Report
By Product:
- Floor Tiles
- Wall Tiles
- Other Tiles
By Application:
- Residential Replacement
- Commercial
- New Residential
- Others (facades, countertops, etc.)
By Region:
- North America
- Europe
- East Asia
- South Asia & Pacific
- Latin America
- The Middle East & Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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