Ceramic Floor & Tiles Market - Forecast(2023 - 2028)
Ceramic Floor & Tiles Market Overview
Ceramic Floor & Tiles Market size is forecast to reach US$589.5 billion by 2027, after growing at a CAGR of 7.3% during the forecast period 2022-2027. Ceramic tiles in comparison with mosaics tile has several advantages such as affordability, easy maintenance and more. As a result, the adoption of ceramic tiles in earthenware, stoneware, and more is surging, which is benefiting the growth of the market. The growth of commercial construction activities across the world is benefiting the Ceramic Floor & Tiles Market. Moreover, the growth of residential construction activities worldwide is projected to fuel the demand for ceramic floors and tiles. This, in turn, will propel the Ceramic Floor & Tiles Market growth in the projected forecast period of 2022-2027.
COVID-19 Impact
The Covid-19 pandemic created a bottleneck for the growth of the Ceramic Floor & Tiles Market growth in the year 2020. Governments all across the globe imposed stringent lockdown regulations, which resulted in a temporary halt on commercial, residential, and other types of construction activities. For instance, in March 2020, the Mayor of Boston restricted the construction activities in Boston, U.S related to commercial, residential, and other types. Likewise, such temporary halts related to construction activities in other regions negatively impacted the ceramic floor and tiles demand. This resulted in revenue losses for the Ceramic Floor & Tiles Market. However, in 2021, the surge in construction activities due to increased safety measures facilitated the Ceramic Floor & Tiles Market growth. Moreover, it is expected in the upcoming years the impact of the Covid-19 pandemic will be restrictive, which will lead to a precast concrete construction industry growth trend similar to the pre-Covid time.
Report Coverage
The "Ceramic Floor & Tiles Market Report – Forecast (2022-2027)”, by IndustryARC, covers an in-depth analysis of the following segments of the Ceramic Floor & Tiles Market.
Key Takeaways
- Asia-Pacific region dominated the Ceramic Floor & Tiles Market, owing to the growing commercial construction industry in the region. For instance, in August 2021, construction work began for the Hotel Okura Shanghai Sheshan based in Japan. This project will be completed by the end of 2024.
- The factors such as the rising purchasing power of people, and the growing need for new residential construction projects, along with other factors, are fueling the growth of the residential construction sector, which is driving the Ceramic Floor & Tiles Market growth.
- The rise in the new construction activities due to the factors such as increasing infrastructure needs, growing commercial space, and more such factors are creating an opportunity for the growth of the market in the upcoming years.
- However, the volatility in the raw material prices is anticipated to restrict the growth of the Ceramic Floor & Tiles Market growth in the forecast period.
Figure: Asia-Pacific Ceramic Floor & Tiles Market Revenue, 2021-2027 (US$ Billion)
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Ceramic Floor & Tiles Market Segment Analysis – By Application
The floor segment held the largest share in the Ceramic Floor & Tiles Market in 2021 and is forecasted to grow at a CAGR of 7.5% during the forecast period 2022-27. The ceramic floor and tiles have superior advantages such as higher durability, water resistance, and more. Thus, ceramic floors and tiles are often utilized in floor application to ensure strength. The surging construction activities across the growth are driving the growth of the ceramic market and the application on the floor is increasing. For instance, according to The European Ceramic Industry Association, in the year 2019, the European ceramic industry was valued at €31 billion (US$34.7 billion), there was a growth of about 19.2% when compared with the previous year, and 31.8% of the revenue which was the major one came from floor tiles. Thus, the growing adoption was ceramic tiles in floor application is benefiting the growth of the market.
Ceramic Floor & Tiles Market Segment Analysis – By End-Use Industry
The commercial segment held the largest share in the Ceramic Floor & Tiles Market in 2021 and is forecasted to grow at a CAGR of 8.1% during the forecast period 2022-27. Ceramic tiles ensure protection from stains and abrasion and they require less maintenance in comparison with mosaics tiles. As a result, ceramic tiles are the key components used in the commercial construction industry for building interior and exterior floors, swimming pools, roofs, and more. The increasing tourism, rising disposal income, and more such factors at the global are leading to a surge in the development of commercial construction projects related to hotels, shopping centers, and more. For instance, in Q4 of 2021, construction works started on the US$507 million Althan Quartier Mixed-Use Complex, which includes the construction hotel, commercial facilities, and more, this project will be completed by 2024. Thus, the surging commercial construction activities are propelling the demand for ceramic floors and tiles, which is expanding the market growth.
Ceramic Floor & Tiles Market Segment Analysis – By Geography
Asia-Pacific region is the dominating region as it holds the largest share in the Ceramic Floor & Tiles Market in 2021 up to 45%. Due to the rapid pace of industrialization in the Asia-Pacific region, there is a surge in the development of office buildings, and more commercial buildings such as hospitals, schools, and more. Due to these factors, the development of commercial construction projects in the Asia-Pacific region is increasing. For instance, according to Invest India, there is a total of 115 future construction projects which are under the planning phase in India, and the value of these projects is about US$11.63 million, these projects include the construction of hotels, and offices buildings, shopping complex, and more. Also, as of 2021, the construction of new facilities at three regional general hospitals in Ho chin Minh City, Vietnam is under construction, the construction of this project will be completed by 2023. Therefore, the increasing commercial construction activities in the Asia-Pacific region will benefit the growth of the Ceramic Floor & Tiles Market in the upcoming years.
Ceramic Floor & Tiles Market Drivers
Growing Government Initiatives Accelerating Residential Construction Activities
In residential construction activities ceramic tiles are utilized across interior and exterior floors, driveways, and more because they are cost-effective and ensure superior durability. Various Governments across the world are taking initiatives to provide affordable housing to their respective people. This strengthens the residential construction activities worldwide. For instance, the government of Brazil has implemented the Casa Verde e Amarela housing program, under it, the government will serve 1.6 million low-income families with a housing financial scheme by 2024. Moreover, according to Can Tho's, 2025 housing development plan, in Vietnam, there will be 38 commercial housing developments with a total floor area of more than 1.56 million m2, 6,590 individual houses, and 1,648 apartments by 2025. In addition, Vietnam will approve 10 commercial housing projects in 2022, as well as two social housing projects totaling roughly 50,000 m2 with 714 social housing flats. Hence, the government initiatives toward the residential construction industry are accelerating the demand for floors and tiles, which, in turn, is driving the market growth.
Ceramic Tiles Manufacturers Adopting Expansion Strategies
To facilitate the economic development of the countries, there is a surge in construction activities. This is fueling the demand for the floor and tiles, owing to these expansion strategies being adopted by ceramic tile manufacturers. For instance, in September 2021, Roca's, a leading ceramic tile manufacturer tiles section, which comprised ceramic tiles, was successfully acquired by Lamosa for US$260 million. The company expanded its ceramic tiles market in Brazil and Spain. Moreover, in February 2019, RAK Ceramics, a global leader in the manufacturing of ceramic tiles invested in a tile production facility in Saudi Arabia. This added 10 million square meters per annum to the company’s ceramic tile production capacity. Therefore, the ceramic tile manufacturers increasing adoption strategies for expansion are expanding the growth of the market.
Ceramic Floor & Tiles Market Challenges
Volatility in the Raw Material Prices
Tile manufacturing is an extremely energy-intensive operation, with electricity, gas, and transportation costs being the most important cost-related challenges affecting the business. For the ceramic tile sector to flourish, there must be consistency in electricity and fuel availability at acceptable prices. Volatile markets have considerable negative implications, which are principally felt by manufacturing companies. Furthermore, the cost of raw materials utilized in the production of ceramic tiles is more volatile. Raw minerals such as silica sand, kaolin, feldspar, resins, and bentonite have price volatility. For instance, according to BCF's monthly raw material prices study, solvent costs increased the most in January 2021 compared to the previous year. The results showed a 123 percent increase in acetone pricing, a 91 percent increase in n-butyl acetate prices, a 41 percent increase in IPA prices, and a 54 percent increase in n-butanol prices. Similarly, prices for epoxy resins increased by 60% in the first quarter of 2021 compared to the third quarter of 2020. Thus, volatile raw material costs raise the capital required for the complete ceramic tile production process.
Ceramic Floor & Tiles Industry Outlook
Technology launches, acquisitions, and increased R&D activities are key strategies adopted by players in the Ceramic Floor & Tiles Market. Global ceramic floor and tiles top 10 companies are listed below .
- Mohawk Industries Inc.
- Siam Cement Group
- Grupo Lamosa
- Grupo CEDASA
- RAK Ceramics PJSC
- Kajaria Ceramics
- Ceramica Carmelo FIOR
- PAMESA
- Ceramiche Atlas Concorde SPA
- Grupo Fragnani
Recent Developments
- In July 2021, Grupo Halcon headquartered in Spain successfully acquired Cicogres, a leading manufacturer of ceramic tiles in Spain. This acquisition aimed to strengthen its ceramic tiles market growth in the Europe region.
- In December 2019, Kajaria Ceramics, a global leader in the ceramic industry launched the Trends 2020 ceramic product range, an elegant range of ceramic tiles, for the southern states of India.
- In May 2019, Orient Bell Limited, based in India launched its new collection of matte glazed ceramic tiles under the name New Horizon Tile series.
Relevant Reports
Report Code: CMR 0223
Report Code: CMR 1245
Report Code: CMR 88625
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LIST OF TABLES
1.Global Ceramic Floor and Tiles Market, by Type Market 2019-2024 ($M)2.Global Ceramic Floor and Tiles Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
3.Global Ceramic Floor and Tiles Market, by Type Market 2019-2024 (Volume/Units)
4.Global Ceramic Floor and Tiles Market Analysis and Forecast by Type and Application Market 2019-2024 (Volume/Units)
5.North America Ceramic Floor and Tiles Market, by Type Market 2019-2024 ($M)
6.North America Ceramic Floor and Tiles Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
7.South America Ceramic Floor and Tiles Market, by Type Market 2019-2024 ($M)
8.South America Ceramic Floor and Tiles Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
9.Europe Ceramic Floor and Tiles Market, by Type Market 2019-2024 ($M)
10.Europe Ceramic Floor and Tiles Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
11.APAC Ceramic Floor and Tiles Market, by Type Market 2019-2024 ($M)
12.APAC Ceramic Floor and Tiles Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
13.MENA Ceramic Floor and Tiles Market, by Type Market 2019-2024 ($M)
14.MENA Ceramic Floor and Tiles Market Analysis and Forecast by Type and Application Market 2019-2024 ($M)
LIST OF FIGURES
1.US Global Ceramic Floor And Tiles Industry Market Revenue, 2019-2024 ($M)2.Canada Global Ceramic Floor And Tiles Industry Market Revenue, 2019-2024 ($M)
3.Mexico Global Ceramic Floor And Tiles Industry Market Revenue, 2019-2024 ($M)
4.Brazil Global Ceramic Floor And Tiles Industry Market Revenue, 2019-2024 ($M)
5.Argentina Global Ceramic Floor And Tiles Industry Market Revenue, 2019-2024 ($M)
6.Peru Global Ceramic Floor And Tiles Industry Market Revenue, 2019-2024 ($M)
7.Colombia Global Ceramic Floor And Tiles Industry Market Revenue, 2019-2024 ($M)
8.Chile Global Ceramic Floor And Tiles Industry Market Revenue, 2019-2024 ($M)
9.Rest of South America Global Ceramic Floor And Tiles Industry Market Revenue, 2019-2024 ($M)
10.UK Global Ceramic Floor And Tiles Industry Market Revenue, 2019-2024 ($M)
11.Germany Global Ceramic Floor And Tiles Industry Market Revenue, 2019-2024 ($M)
12.France Global Ceramic Floor And Tiles Industry Market Revenue, 2019-2024 ($M)
13.Italy Global Ceramic Floor And Tiles Industry Market Revenue, 2019-2024 ($M)
14.Spain Global Ceramic Floor And Tiles Industry Market Revenue, 2019-2024 ($M)
15.Rest of Europe Global Ceramic Floor And Tiles Industry Market Revenue, 2019-2024 ($M)
16.China Global Ceramic Floor And Tiles Industry Market Revenue, 2019-2024 ($M)
17.India Global Ceramic Floor And Tiles Industry Market Revenue, 2019-2024 ($M)
18.Japan Global Ceramic Floor And Tiles Industry Market Revenue, 2019-2024 ($M)
19.South Korea Global Ceramic Floor And Tiles Industry Market Revenue, 2019-2024 ($M)
20.South Africa Global Ceramic Floor And Tiles Industry Market Revenue, 2019-2024 ($M)
21.North America Global Ceramic Floor And Tiles Industry By Application
22.South America Global Ceramic Floor And Tiles Industry By Application
23.Europe Global Ceramic Floor And Tiles Industry By Application
24.APAC Global Ceramic Floor And Tiles Industry By Application
25.MENA Global Ceramic Floor And Tiles Industry By Application