Albany - NY, Oct. 20, 2015 (GLOBE NEWSWIRE) -- According to the market research report, the global ceramic tiles market was valued at US$55.7 bn in 2011 and is expected to reach US$102.79 bn by 2018, growing at a CAGR of 9.2% from 2012 to 2018. The estimates suggest that the demand from this market will go from 10,370.0 million square meters in 2011 to 18,154.1 million square meters by 2018, growing at a CAGR of 8.4% from 2012 to 2018.
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This sturdy growth of the global ceramic tiles market has several factors supporting it. It will primarily be led by the increasing volume of construction activities in the residential sector. In the forecast period, Asia Pacific is expected to dominate the global ceramic tiles market. Growing urbanization, emerging and stabilizing economies, rising per capita income, population growth, and higher GDPs are fueling the growth of the global ceramic tiles market in the commercial segment as well. The ceramic tiles market is finding major support from development in regions such as Africa and Latin America, led by Brazil, India, and China as they strive to achieve a stronger economy. The demand for aesthetically improved interiors and structural reliability and sustainability is also expected to impact the global ceramic tiles market in a positive manner.
The global ceramic tiles market has been segmented on the basis of products, applications, and regions. The products in the global ceramic tiles market include floor tiles, wall tiles, and other tiles. These tiles are mostly used in new residential construction, commercial buildings, residential renovation projects, and others such as facades and countertops. Geographically, the global ceramic tiles market is spread over regions such as Europe, North America, Latin America, Asia Pacific, and Rest of the World.
The report suggests that, in 2012, the residential replacement segment held the biggest market share in the global ceramic tiles market, accounting to nearly 47% of the market. This demand is expected to sustain the market, as tiles are considered as an excellent substitute for marble, paint, and other refurbishing products. The only restraint for the global ceramic tiles market is the governmental norms regarding the emissions of CO2 in the atmosphere during the production process of various types of ceramic tiles.
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Some of the key market players profiled in the global ceramic tiles market are Kajaria Ceramics, RAK Ceramics, Porcelanosa Grupo, China Ceramics, Ceramica Saloni, and Mohawk Industries. The research report provides a SWOT analysis of these companies along with their financial overview, business strategies, and research and development activities.
The global ceramic tiles market is segmented as follows:
Ceramic Tiles Market - Product Segment Analysis
- Floor Tiles
- Wall Tiles
- Other Tiles
Ceramic Tiles Market - Application Analysis
- Residential Replacement
- New Residential
- Others (facades, countertops etc.)
Ceramic Tiles Market - Regional Analysis
- North America
- Asia Pacific
- Latin America
- Rest of the World (RoW)
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Source:Transparency Market Research