Global ceramic tiles market growing with CAGR 7.2%, to reach US$ 107.2 Billion by 2024

Rapid industrialization, rising construction activities, technological advancements in the production of ceramic tiles, environment-friendly manufacturing process and incorporation of special equipment are bolstering the growth of the global ceramic tiles market across the world.

The market researchers IMARC, in the latest report has estimated the global ceramic tiles market size to around US$ 70.9 Billion in 2018. Ceramic tiles are produced by an amalgamation of clay, sand, quartz and water. Due to their lightweight along with anti-skid and anti-bacterial properties, these tiles have gained traction in different construction sectors around the globe. Moreover, they are more durable, can withstand exposure to acidic or caustic chemicals and are resistant to high temperature as compared to their counterparts. These tiles are mostly used in hotels, laboratories and hospitals where hygiene is of utmost importance. Moreover, as there are different product variants available in the market, they are preferred over other flooring products like concrete and marble.

Market Drivers

Ceramic tiles offer different style and glaze options in both wall and floor tiles, ranging from traditional to western. With inflating income levels, consumers now look for stylish and modern flooring options which are greatly influencing the market growth. Moreover, growing construction activities and rapid industrialization, especially in India, China, Brazil, and various GCC countries, have carved a huge demand for ceramic tiles for flooring and other requirements. Further, these tiles do not put enormous strain on the environment as they are manufactured using naturally-occurring minerals in an eco-friendly manner. In addition to this, progress in technology has led producers to further reduce the emission of harmful gases while manufacturing these tiles and also incorporate special equipment for selection, control, and manipulation to launch them in various sizes, textures, and shapes. Looking forward, the market is anticipated to reach a value of US$ 107.2 Billion by 2024, projecting a CAGR of 7.2% during 2019-2024.

(With inputs from IMARC Group)