Ceramic Tile Statistics Industry Statistics Press Release

Mohawk Acquires Vitromex for $293 Million

Mohawk Industries, Inc. announced today that it has entered into an agreement to purchase the Vitromex ceramic tile business from Grupo Industrial Saltillo (GIS) for approximately $293 million in cash. The transaction is expected to close in the second half of 2022 and is subject to the approval of GIS’s shareholders, as well as customary government approvals and closing conditions. The Vitromex business is expected to be accretive to Mohawk's earnings. Read More

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CERAMIC TILES: A NATURALLY SUSTAINABLE MATERIAL

Ceramic tiles stand out for their limitless visual potential, their versatile applications and properties such as their durability and resistance. But what contributions does this material make to the environment and to the current economy? Read More

Economic Indicators Industry Forecasts Industry Statistics

Remodeling will outperform starts during downturn

Strong growth in house prices and rapidly rising mortgage rates have taken their toll on the housing market this year. Housing starts have declined more than 20 percent since hitting over 1.8 million nationally on a seasonally adjusted and annualized rate in April. The consensus among industry experts is that starts will decline even further — probably another 10 percent to 15 percent next year over 2022 levels — before beginning a recovery in 2024 as interest rates and house prices moderate. Read More

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Apartment building forecasted to support industry

According to new data from Research and Markets, the construction industry in the U.S. is expected to grow by 6.5. percent to reach $1,338,125 million in 2022, and the growth momentum is expected to continue through 2026 with a 5.5 percent compound annual growth rate. The report forecasts that construction output is expected to reach $1,658,038.6 million by 2026, which is largely supported by apartment construction. Read More

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Despite inflation, tile remains steady

In 2022, the tile industry remained dedicated to offering durable, high-performing and stylish products that consumers could rely on during the unpredictable year. According to the Catalina Report, U.S. ceramic tile manufacturer sales could have increased by 12.3 percent in dollars over the first three quarters of 2022, with sharp price increases contributing to dollar inroads. Read More

Economic Indicators Industry Forecasts Industry Statistics

Apartment building forecasted to support industry

According to new data from Research and Markets, the construction industry in the U.S. is expected to grow by 6.5. percent to reach $1,338,125 million in 2022, and the growth momentum is expected to continue through 2026 with a 5.5 percent compound annual growth rate. The report forecasts that construction output is expected to reach $1,658,038.6 million by 2026, which is largely supported by apartment construction. Read More

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November new home sales up as interest rates fall

While new home sales received a slight bounce in November from moderating mortgage rates, the National Association of Home Builders (NAHB) said the housing market continues to struggle because of ongoing supply chain disruptions, elevated construction costs and challenging affordability conditions. Read More

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Consumer Sentiment Rose 5.1% to 59.7 in December

Consumer sentiment rose 5.1% to 59.7 in December, according to final results from the University of Michigan Survey of Consumers. Read More

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BEA News: Personal Income and Outlays, November 2022

The U.S. Bureau of Economic Analysis (BEA) has issued the following news release today: Personal income increased $80.1 billion, or 0.4 percent at a monthly rate, while consumer spending increased $19.8 billion, or 0.1 percent, in November. Read More

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BEA News: Gross Domestic Product (Third Estimate), GDP by Industry, and Corporate Profits (Revised), Third Quarter 2022

Real gross domestic product (GDP) increased at an annual rate of 3.2 percent in the third quarter of 2022, in contrast to a decrease of 0.6 percent in the second quarter. The increase in the third quarter primarily reflected increases in exports and consumer spending that were partly offset by a decrease in housing investment. Read More