Ceramic Tiles Market is well poised to attain a revenue valuation of US$178.1 bn by 2024
The global ceramic tiles market is prognosticated to undergo a number of growth opportunities in the coming years, according to an intelligence report by Transparency Market Research (TMR). The study throws light on the highly competitive and fragmented vendor landscape, and reports the presence of a few leading market players that account for leading market revenue share. These include Mohawk Industries, Kajaria Ceramics, P.J.S.C, RAK Ceramics and Siam Cement Group. With introducing new patterns to expand their distribution channels, the leading vendors are taking significant efforts to regain their market position and upscale their sales.
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The worldwide ceramic tiles market stood at US$76.81 bn in the year 2015, and is expected to reach a valuation of roughly US$178.10 bn by the year 2024, the end of the forecast period. This demonstrates a healthy CAGR of 9.80% over the years.
Floor Tiles to Continue Being Dominant Market Segment due to High Consumption
Flooring is a fundamental piece of commercial and residential structures. It involves a number of applications ranging from private houses and business organizations, for instance, hospitals centers to transport frameworks such as air terminals and railroads. Tiles, particularly ceramic tiles, are one of the broadly utilized items in ground surface applications. In 2015, the Europe flooring market measure was around 3 billion square meters. Railways, airports, hospitals and other institutional infrastructures require floor tiles at a predictable rate. Accordingly, the interest for floor tiles could remain higher within the forthcoming years.
The growth in Asia Pacific could offer large market for the regional ceramic tiles market. A large group of market openings are anticipated to come to fruition in the region as the demand for ceramic tiles is escalating. Industry players working in Asia Pacific could benefit from the rising utilization of ceramic tiles on account of move in inclination of consumers from metal sections, marble floors, and other offerings toward ceramic tiles.
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3D Tiles to Represent Rising Trend in Global Ceramic Tiles Market
Ceramic tiles are made from a mixture of sand, clay, and other natural products. They are manufactured by molding the raw materials into the required shape and design, followed by heating at high temperature in a kiln. Ceramic tiles are available in many designs and variants, and hence are suitable for indoors and outdoors. Their aesthetics make them suitable for floor coverings and other decorative uses. The demand for ceramic tiles is probably going to encounter the most noteworthy surge in the forthcoming years, bolstered by their better tasteful element, sturdiness, lower maintenance prerequisites, variety in patterns and colors.
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