Global ceramic tile market trends, forecast, and opportunity analysis 2016-2021
As reported in Issue: Tile & Stone Blue Book August 2016 Newsletter, Posted Date: 8/25/2016:
(PR Newswire) Research and Markets has announced the addition of the “Opportunities in the Global Ceramic Tile Market 2016-2021: Trends, Forecast, and Opportunity Analysis” report to their offering. The global ceramic tile market is forecast to grow at a CAGR of 6.7% by value from 2016 to 2021.
The major growth driver for this market is the growth in new construction and renovation activities. Growing demand for easy to maintain; better aesthetics; durable; and moisture, fire and scratch-resistant tiles are also some other growth drivers of the ceramic tile market.
In this market, floor and wall tiles are the major product forms used for residential and commercial construction applications. Floor tile is the largest segment by product forms and is expected to remain the same during the forecast period. Lucintel predicts that the demand for wall tiles is likely to experience the highest growth during the forecast period, supported by their better aesthetic feature, durability, minimal maintenance requirements, and availability in a variety of colors and designs. On the basis of comprehensive research, Lucintel forecasts that the residential segment is expected to show above average growth during the forecast period.
APAC is expected to remain the largest and the highest growing region during the forecast period due to a comparatively large construction industry in this region, along with changing lifestyle and growing end-use industries, especially in China and India, and increasing urbanization in this region.
Emerging trends in the global ceramic tile market, which have a direct impact on the dynamics of the industry, include increasing demand for vitrified tiles, 3D tiles, designer tiles, acceptance of eco-friendly tiles, and introduction of nano-technology. Mohawk Industries, Inc., Atlas Concorde, Ras Al Khaimah Ceramics PSC, Grupo Lamosa, and Interceramic are among the major suppliers of ceramic tiles. Some companies are opting for M&A as a strategic initiative for driving growth.