Albany, NY, Jan. 25, 2016 (GLOBE NEWSWIRE) -- The report projects that the market will expand at a healthy pace over the period between 2013 and 2019.The report states that the market, which had a valuation of US$60.74 billion in 2013, will expand at a 9.2% CAGR between 2013 and 2019 and rise to a valuation of US$112.32 billion by 2019. The flourishing global construction industry, which accounts for a major share of the overall demand for a variety of ceramic tiles, is a key factor driving the global ceramic tiles market.
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The report states that factors such as the easy availability of raw materials and rising technological interventions in manufacturing processes have significantly propelled the global ceramic tiles market in the past few years. In emerging economies such as India and China, rising level of urbanizations, improving economic conditions, growth in GDP, high per capita income, and increased spending power have led to a rise in the number of residential and commercial construction projects. This has consequently benefitted the market for ceramic tiles in Asia Pacific.
The report segments the global ceramic tiles market on the basis of three broad criteria: product type, application, and geography. On the basis of product type, the market is segmented into floor tiles, wall tiles, and other tiles. On the basis of application, the market is segmented into residential replacement, new residential, commercial, and other applications such as countertops, facades, etc. On the basis of geography, the market is segmented into North America, Latin America, Europe, Asia Pacific, and rest of the World.
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Of the key product types studied in the report, the segment of floor tiles led the global market and accounted for the over 52.0% of the global market in terms of volume. Demand for ceramic floor tiles is projected to significantly rise in the near future, especially in Asia Pacific. Ceramic wall tiles accounted for the second largest share of the global market over the same period. Regionally, Asia Pacific emerged as the market leader, accounting for over 66% of the global market in 2012. The regional market is also the fastest growing market in terms of both consumption and production. The highly lucrative regional market is increasingly becoming the key destination for several manufacturers and sellers of ceramic tiles.
The report also presents a detailed analysis of the competitive landscape of the global ceramic tiles market. The report presents detailed business profiles of some of the key vendors in the market covering the recent developments, and a SWOT analysis of market’s key companies, some of which are RAK Ceramics, China Ceramics, Ceramica Soloni, Porcelanosa Grupo, Kajaria Ceramics, Gruppo Ceramiche Ricchetti, Saloni Ceramica, Florida Tile and Mohawk Industries.
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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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