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The global ceramic tiles market is positioned to reflect a 6% CAGR for the duration of the projection period between 2020 and 2030. The ceramic tiles market is anticipated to be adversely impacted by the global coronavirus pandemic. Major ceramic tile supplier countries such as China, Mexico and Italy have been slammed by the contagion, hurting supply chains and delivery dates. Further, restrictions on trade for raw materials required for tile production will hurt short term prospects.
“Rapid development of the residential construction sector and urban development are expected to fuel the ceramic tiles market growth. Wider options in sustainable materials and aesthetics will contribute to demand in the years to come,” says the FACT.MR report.
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Ceramic Tiles Market- Key Takeaways
- Impervious porcelain ceramic tiles are highly sought after for floor coverings owing to superior resistance to mold and bacterial growth.
- Porcelain ceramic wall tiles are finding niche roles in non-residential buildings as an aesthetically pleasing and affordable alternative to stone tile options.
- Asia Pacific is a major ceramic tiles market supported by the large numbers of residential and non-residential projects in China and India.
Ceramic Tiles Market- Driving Factors
- Rising interest by construction companies to abide by green building standards is a major growth factor.
- Wider aesthetic options with new digital inkjet printing technologies is contributing to revenue.
Ceramic Tiles Market- Major Restraints
- Ceramic tiles are more prone to cracking on impact with heavy objects, restricting adoption rates.
- Available of affordable and comfortable alternatives for flooring applications restrain market growth.
COVID-19 Impact on Ceramic Tiles Market
The covid-19 pandemic is expected to have an adverse impact on the ceramic tiles market. Suspension of construction activity in nationwide lockdowns has slowed demand. The outbreak has also reduced the demand for ceramic tiles in renovation applications. Dealers are being forced to change to lean inventory strategies for the short term. Recovery is likely to be sluggish, with continued economic uncertainty prevailing in multiple verticals.
Explore the global Ceramic Tiles Market with 266 figures, 94 data tables, along with the table of contents of the report. You can also find detailed segmentation on https://www.factmr.com/connectus/sample?flag=RM&rep_id=245
Porcelanosa Grupo, Mohawk Industries, Ceramiche Atlas Concorde, Grupo Lamosa SAB de CV, GranitiFiandre, Pamesa Ceramica Sl, and Florim Ceramiche are some of the leading players in the ceramic tiles market.
Ceramic tiles market players are increasingly pushing for product differentiation with innovations in sustainability, aesthetics, and functionality to wider their portfolios, and to keep ahead of competition.
For example, Parkside Tiles has launched a new range of ceramic wall tiles with 23 color options, matt and gloss finishes, in addition to matching trims and grout. Johnson Tiles has released its Smart Tile range with anti-microbial, anti-static, and high-solar reflective index characteristics. Further, Netherlands-based Mosa has transitioned to completely reusable tile materials for its product range in a cradle-to-cradle sustainability initiative.
About the Report
This study offers readers a comprehensive market forecast of the ceramic tiles market. Global, regional and country-level analysis of the top industry trends impacting the ceramic tiles market is covered in this FACT.MR study. The report offers insights on the ceramic tiles market on the basis of application (walls, flooring, and others), formulation (dry pressed, extruded, and casting) end use (residential and non-residential) and sales type (new installation and replacement) across five regions (North America, Latin America, Europe, Asia Pacific, and MEA).