Ceramic Tiles Market Price And Industry Growth Till, 2020-2027

High production capacity coupled with a wide distribution network of prominent players are likely to fulfill the demand in the construction applications across the globe. As a result, increasing new constructions for residential and non-residential buildings in major economies due to industrial development coupled with rapid urbanization are likely to create a scope for market growth.

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Durability and enhanced lifespan offered by these tiles are likely to increase its utility in the high traffic commercial construction applications. Technological advancements in the manufacturing process have introduced customization options in color, size, texture, and dimensions, thus are likely to gain high traction in residential and non-residential building renovation projects.

Key players in the market such as Tarkett, Mohawk, RAK Ceramics, Johnson Tiles are engaged in the development of ceramic tiles with superior durability and customization options. In addition, compliance with the green building codes by major economies is expected to have a positive impact on product demand as these tiles are environment-friendly and can be recycled.

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Further key findings from the report suggest:

• The demand for porcelain tiles is expected to witness a revenue-based CAGR of 7.3% over the estimated time owing to its wide applications in residential flooring applications and benefits including durability and enhanced aesthetics

• In Europe, the revenue for the glazed ceramic segment in 2019 stood at USD 20.3 billion and is projected to witness a revenue-based CAGR of 4.7% over the forecast period on account of the increasing popularity of eco-friendly building materials with high aesthetic value

• In 2019, non-residential flooring applications dominated the market with a share of 58.6% on account of high penetration of the product in office construction driven by superior aesthetics and durability offered by the product

• The ceramic tiles market in Asia Pacific is expected to witness a CAGR of 8.2% by revenue from 2020 to 2027 on account of the wide acceptance of the product in flooring applications

• In November 2018, Johnson Tiles extended its product portfolio with the introduction of Savoy Floor, a range of glazed porcelain floor tiles with a rustic concrete effect and geometric patterns which served as a strategy aimed at portfolio expansion.

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