CHICAGO, Nov. 19, 2020 /PRNewsCentre/ — According to the new market research report "Ceramic Tiles Market by Type (Porcelain, Glazed, Unglazed), Application (Floor, Internal Wall, External Wall, Others), End-Use Sector (Residential & Non-residential), & Region – Global Forecast to 2025", published by MarketsandMarkets™, the Ceramic Tiles Market is projected to grow from USD 207.7 billion in 2020 to USD 285.1 billion by 2025, at a CAGR of 6.5% during the forecast period.
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Growth in investments in the construction industry, coupled with a rise in the number of renovation & remodeling activities, further boost the growth of the market for ceramic tiles. The rise in demand from emerging economies and the growth of the organized retail sector create growth opportunities for the market.
The Porcelain segment is projected to dominate the global Ceramic Tiles Market through 2025
The porcelain segment acquired the largest share in the ceramic tiles market in 2019, in terms of value, and is projected to grow at the highest CAGR during the forecast period. The demand for porcelain tiles in recent years has been increasing due to their superior properties, such as low water absorption, slip resistance, and anti-bacterial properties. These properties make porcelain tiles highly popular for kitchens, bathrooms, and hospitals.
The flooring segment is projected to grow at the highest CAGR in the Ceramic Tiles Market during the forecast period
The flooring segment is projected to grow at the highest CAGR in the ceramic tiles market from 2020 to 2025. Ceramic tiles are an ideal and enduring option as a flooring material because of their strength, water-resistance, low maintenance, reliability, and high durability. They find application in healthcare centers, government offices, and sports institutes, where the expected footfall is high, as well as in residential buildings. Being water-resistant and easy to clean, they are the best solution for the kitchen and bathroom floors.
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The Asia Pacific is projected to hold the largest share in the Ceramic Tiles Market during the forecast period
The Asia Pacific is the most attractive market for ceramic tiles due to the rapid socio-economic development in the region. The increasing number of new housing units and huge investments in the infrastructural sector are fueling the demand for ceramic tile materials in this region. The growth of the ceramic tiles market in the APAC region is also driven by increasing demand for ceramic tiles in countries, such as China, India, Thailand, Indonesia, and Vietnam, due to the significant growth in the construction opportunities in these countries.
Key players operating in the ceramic tiles market include Mohawk Industries (US), Siam Cement Group (Thailand), Grupo Lamosa (Mexico), RAK Ceramics (UAE), Kajaria Ceramics (India), Grupo Cedasa (Brazil), Ceramica Carmelo Fior (Brazil), Pamesa Ceramica (Spain), Grupo Fragnani (Brazil), and STN Ceramica (Spain). These players have adopted various growth strategies to expand their global presence and increase their market share.
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