The Establishment of Projects, Easy Home Loan Access and Growing Investment Inflows Has Building Construction Activities That Are Driving the Growth of the Ceramic Tiles Market

Ceramic Tiles made from a mixture of natural materials such as natural clay, sand, quartz and water hold high aesthetic appeal, impact & crack resistance and high insulation properties owing to which the tiles find ideal usage as a flooring material in residential and commercial buildings. The growing usage of advanced technologies in construction work and economic development coupled with favorable investment inflows is increasing the productivity of the building & construction sector. According to Eurostat, in July 2022, building construction output increased by 1.4% in comparison to July 2021. With such growing output, the demand and usage of ceramic tiles will also increase thereby boosting their market growth. The Ceramic Tiles Market size is estimated to grow at a CAGR of 5.5% during the forecast period 2022-2027 and is expected to reach a revenue of US$132.6 billion by 2027.

Based on the end-use industry, the Ceramic Tiles market can be segmented into residential, commercial and industrial. The ceramic tiles market’s leading segment is evaluated to be residential and during the forecast period, 2022-2027 and the residential segment is expected to grow at a CAGR of 5.9%. The undertaking of big township projects and establishments of residential societies has increased the scale of residential construction. For instance, according to the Office of National Statistics, in June 2022, private new housing construction saw a 7.8% increase while public new housing construction saw an 8.6% increase. With such an increase in housing construction, the demand and usage of ceramic tiles as flooring material will also increase.

Based on geography the Ceramic Tiles market can be segmented into North America, South America, Europe, APAC and the Rest of the World. According to IndustryARC's analysis, in 2021, the Asia-Pacific region emerged as the most profitable region in the market and held a 42.3% share of the total revenue earned by the market globally. The region is experiencing major projects and establishments related to residential construction in major Asia-Pacific countries such as India and Australia. According to the statement issued by the Union housing and Urban Affairs Ministry, in 2021, the Indian government approved the construction of 16,488 houses in urban areas under the Pradhan Mantri Awas Yojana. Also, in April 2021, the Australian Government announced that it had received 121,000 HomeBuilder applications, expected to support residential construction projects worth US$18.4 billion. Such project announcements have boosted ceramic tiles demand in the region.

Key companies holding a major share in the Ceramic Tiles market are Mohawk Industries Inc, SCG Ceramics, RAK Ceramics, Kajaria Ceramics Limited, Crosville Inc, Porcelanosa Group, Guangdong Dongpeng Ceramic Co. Ltd, Dynasty Ceramic Public Company Limited, Ceramic Industries Group, White Horse Ceramics.