Ceramic Tile Market Research Report- Forecast to 2023
MRFR Press Release/- Market Research Future Published a Cooked Research “Global Ceramic Tiles Market Research Report – Forecast to 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast up to 2023.
Mohawk Industries, British Ceramic Tile, Torrecid Group, Atlas Concorde, Porcelanosa Group, Crossville Inc., Gruppo Ceramiche Ricchetti, Kajaria Ceramics and Asian Granito India Ltd. are some of the prominent players at the forefront of competition in the Global Ceramic TilesMarket and are profiled in MRFR Analysis.
Ceramic Tiles Market – Market Overview
A slab made up of mixture of clay and inorganic raw materials, Ceramic Tiles, the market supply demand scenario is inclined towards the dynamics of construction industry and the economic conditions. The market consumption trends vary region to region, for instance, the economic downturn in 2008-09 in the U.S which had an adverse effect on the housing industry in the country witnessed sharp decline in the Ceramic Tile Industry. However, the recent stats showing a positive outlook for housing market in the U.S for 2017-18 with low mortgage rates in the country beefing up new construction activities. Hence, a positive prospect for the Ceramic Tile players operating in the region. Since, the ceramic tiles are majorly consumed in its close vicinity of production.
Ceramic Tiles are widely consumed among new residential and non-residential constructions along with the reconstruction and renovation activities. With the increasing population, urbanization, and industrialization in the emerging economies such as Asia Pacific and Middles East are stimulating the construction activities. These are some of the protuberant market compelling factors for ceramic tiles.
Amidst the decline in oil prices in the GCC the construction activities in the region still remains as a strong indicator for economic growth in the region. The construction activities is expected to stimulate in the coming years with an overall capital spending in GCC estimated at USD 480 billion of which 65% will be towards infrastructure development. Accounting for the latter mentioned factors it is healthy to assume a pool of market opportunities for Ceramic Tiles in the Middle East adding value to the global ceramic tiles market as a whole.
Protuberant trends further supporting the growth of Ceramic Tiles Market growth includes innovative designs and enhanced aesthetics, for instance, combination of materials in an innovative manner, traditional stone and wood look Ceramic Tiles. Increasing reconstruction and repair activities across the globe replacing traditional construction with new designs can be further attributed towards the growth of ceramic tiles market across the globe. Furthermore, government initiatives in the emerging economies for infrastructural developments is expected to stimulate the market for Ceramic Tiles. For instance, government of India’s proposed spending in infrastructure accounting for 10% of the country’s GDP in its 12Th five-year plans will boost the demand for ceramic tiles in the country.
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Ceramic Tiles Market – Competitive Analysis
Major players operating in the Ceramic Tiles concentrated in the Asia Pacific region are targeting to capitalize on the market with more value added products. For instance, Asian Granito India Ltd a leading player in the Ceramic Tiles space is focusing on high-value added products such as vitrified tiles, digital Ceramic Tiles, marble and quartz in line with the company’s strategy towards achieving 50% retail sales from 35% in the Indian market. Capacity additions towards first half of 2018 for value added products is one of the strategy adopted by the company.
Capacity expansion is a noted trend among the players in this market space, Kajaria Ceramics, a leading name in the ceramic tiles has expanded its capacity of ceramic tiles with its new plant in Tirupati, India. The plant will be operational in first of 2018.
Industry/ Innovation/ Related News:
March 28, 2016 – Somany Ceramics Ltd has commenced the production at its plant located at Kassar (Bahadurgarh). The new plant will produce 4 million sq. meters of vitrified tiles. Total production after addition has become 17.13 million sq. meters per annum.
October 12, 2016-, Asian Granito India Ltd (AGIL), completed its expansion at Crystal Ceramics Industries Pvt Ltd – subsidiary of the organization. With this expansion, production capacity of Crystal Ceramics has reached 27,000 square meters/day. The new plant produce vitrified tiles in the extensive arrangement of 800 X 800 mm and 1000 X 1000 mm for residential applications.
December 15, 2016-, Somany Ceramics Ltd., became the first Indian ceramic tile manufacturer to launch 3D tile visualizer in virtual reality.
March 23, 2017– Somany Ceramics Ltd., opened its new showroom for its wide range ceramic product including innovative tiles in Mumbai, India. The newly opened showroom is in line with the company’s network expansion strategy across the country.
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