USD 355.3 billion
Report ID:
SQMIG15F2086 |
Region:
Global |
Published Date: July, 2024
Pages:
157
|Tables:
89
|Figures:
76
Ceramic Tiles Market size was valued at USD 263.52 Billion in 2023 and is poised to grow from USD 282.86 Billion in 2024 to USD 498.5 Billion by 2032, growing at a CAGR of 7.34% during the forecast period (2025-2032).
High investments in infrastructure development around the world and growing construction activity are projected to primarily augment the demand for ceramic tiles over the coming years. Growing disposable income of people and changing consumer preferences also play a crucial role in determining sales of ceramic tiles going forward. An increasing number of people opting for home remodeling and rapidly rising urbanization are also slated to act in favor of ceramic tile companies in the future. Advancements in digital tile printing technologies are also expected to create new opportunities for ceramic tiles market players in the long run. However, fluctuations in raw material pricing and intense competition are slated to be key restraints for ceramic tile companies across the study period.
US Ceramic Tiles Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 355.3 billion
Largest Segment
Floor Tiles
Fastest Growth
Flooe Tiles
Growth Rate
7.1% CAGR
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The Ceramic Tiles Market is segmented by Finish, Application, End-user, and Region. Based on Finish, the market is segmented into Glossy, Matte, Polished, and Others. Based on Application, the market is segmented into Wall Tiles and Floor Tiles. Based on End User, market is segmented into Residential and Non-residential. By Region, the market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America.
Ceramic Tiles Market Analysis by Finish
Glossy ceramic tiles are projected to account for a dominant share of the global market. These tiles are highly popular and preferred for their water resistance and extensively used in splash or water-prone areas such as kitchens and bathrooms. These tiles are also stained resistant, which also adds up to its benefits and promotes its adoption in multiple construction applications. High-end and expensive look offered by glossy tiles will also contribute to the segment’s high market share.
On the other hand, the demand for matte ceramic tiles is projected to increase at a robust pace over the coming years. Better texture and slip-resistance as compared to glossy or polished tiles is promoting the sales of matte ceramic tiles around the world. These tiles are gaining popularity for flooring applications owing to their better slip-resistance.
Ceramic Tiles Market Analysis by End User
Non-residential or commercial end users are estimated to account for a major chunk of the global market share. Growing use of ceramic flooring and wall tiling in multiple commercial spaces to offer a better look, and finishing is helping this segment maintain its dominance. Moreover, better leakage and water resistance offered by ceramic tiles also helps in improving the life of commercial structures going forward.
Growing interest of people in remodeling their homes and rapidly evolving consumer preferences are boosting the demand for ceramic tiles by residential end users at a rapid pace. Rapid growth of the housing market in different parts of the world is also expected to favor market growth via this segment going forward. Rising disposable income of people will also play a crucial role in promoting market growth in the future.
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The Asia-Pacific region is slated to account for a major chunk of the global ceramic tiles market share owing to high investments in infrastructure development and rapid urbanization. Growing disposable income and evolution of consumer preferences are also helping the dominance of this region. Moreover, the presence of key ceramic tile providers in this region and the availability of cheap labor also helps market growth. India, China, Japan, and South Korea are some key markets for ceramic tiles market players in this region.
Meanwhile, the sales of ceramic tiles in the North American region are projected to increase at a robust pace across the study period. High investments in upgradation of existing infrastructure and high consumer spending potential are slated to help ceramic tiles demand in this region. High emphasis on improving commercial and residential infrastructure will also favor the demand for ceramic tiles in this region with the United States and Canada being the most opportune markets.
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Ceramic Tiles Market Drivers
Growing Number of Renovations and Remodeling Projects
High Investments in Infrastructure Development
Ceramic Tiles Market Restraints
Fluctuations in Raw Material Pricing
Pricing Pressure
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Ceramic tile manufacturers should focus on minimizing the risks and costs associated with production to maximize their profits. Developing new ceramic tiles with better finishes and prints to attract new customers will also be a key strategy for all ceramic tile companies. Creating ceramic tiles with sustainable materials could also pay off big time for ceramic tile manufacturers in the long run. Launching new products will help ceramic tile providers stay competitive in this highly saturated market.
Ceramic Tiles Market Top Player’s Company Profiles
Ceramic Tiles Market Recent Developments
Use Sustainable Materials:
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, rising construction activity around the world and high investments in infrastructure development primarily drive ceramic tiles market growth. However, pricing pressure and fluctuations in raw material pricing are slated to be key restraints impeding sales of ceramic tiles around the world. The Asia Pacific region is slated to spearhead global demand for ceramic tiles on the back of rapid urbanization and evolving consumer preferences. Commercial/non-residential end users will bring in major revenue for ceramic tile suppliers in the future. Use of sustainable raw materials will emerge as a key opportunity for ceramic tile companies in the long run.
Report Metric | Details |
---|---|
Market size value in 2022 | USD 245.50 billion |
Market size value in 2031 | USD 464.41 Billion |
Growth Rate | 7.34% |
Base year | 2023 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Ceramic Tiles Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Ceramic Tiles Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Ceramic Tiles Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Ceramic Tiles Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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Report ID: SQMIG15F2086
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