Increased demand for the ceramic tiles market is led forward by growing building operations across the world and escalating demand for new housing flats in buildings. The worldwide market is segmented in view of applications, products and regions. The applications market consists of commercial, residential replacement, new residential and others. The others sector contains countertops, porticos and so on.
Rising demand for ceramic tiles across all these sectors is also anticipated to drive the demand for the ceramic tiles market. The products market is sliced in view of wall tiles, floor tiles and others. The regions market is fragmented on account of Europe, rest of the world, North America and Asia Pacific. The ceramic tiles market was predicted to have attained about USD 55 billion in 2011.
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It is likely to achieve around USD 102 billion by 2018. The ceramic tiles market is projected to notice a CAGR of around 9 percent during 2012 to 2018. With regard to volume, the ceramic tiles demand was about 10, 370 million square meters in 2012. It is projected to reach around 18, 154 million square meters by 2018.
Demand for the ceramic tiles market has been propelled forward by the rising building and infrastructure industries. This is specifically with regard to the developing regions of Asia Pacific, like India, China and Indonesia. Rising inclination towards substituting metal pieces, paints, home decorative products and marble floors with ceramic tiles is also estimated to increase the market through the forecast period.
Conversely, variations in raw material prices and regulatory matters to cater to rising environmental apprehensions are serving as the principle components, adding to the manufacturing costs of ceramic tiles. Growing manufacturing costs of ceramic tiles are estimated to prevent the ceramic tiles market from flowing smoothly.
The applications market is leaded by the sector of residential replacement. Residential replacement captured nearly 54 percent of the total market in 2011. Alongside being the largest ceramic tiles market, residential replacement is also predicted to be the most rapidly developing segment from 2013 to 2018. It is likely to register a CAGR of around 8.6 percent during the said period.
The sector of commercial chased residential replacement in 2012. It captured more than 30 percent of the market. The products sector was dominated by floor tiles in 2011. Floor tiles occupied more than 50 percent of the entire ceramic tiles market. They are also likely to be the most rapidly developing sector from 2012 to 2018, at a CAGR of about 9.4 percent. Wall tiles are projected to lose some of their income by 2018.
The regions sector was dominated by Asia Pacific in 2011. This region is also likely to dominate the ceramic tiles market through the forecast period. It occupied more than 65 percent of the total market in 2011. Growing building operations in China and India are estimated to increase the income of this region in the coming five years.
Asia Pacific is also projected to be the most rapidly expanding ceramic tiles market. Europe and Latin America followed Asia Pacific in 2011.
Information Source: Grand View Research