NEW YORK, July 28, 2016 /PRNewswire/ -- According to a new market report published by Lucintel, the future of the global ceramic tile market looks good with opportunities in the residential and commercial construction markets. The global ceramic tile market is forecast to grow at a CAGR of 6.7% by value from 2016 to 2021. The major growth driver for this market is the growth in new construction and renovation activities. Growing demand for easy to maintain; better aesthetics; durable; and moisture-, fire-, and scratch-resistant tiles are also some other growth drivers of the ceramic tile market.
In this market, floor and wall tiles are the major product forms used for residential and commercial construction applications. Floor tile is the largest segment by product forms and is expected to remain the same during the forecast period. Lucintel predicts that the demand for wall tiles is likely to experience the highest growth during the forecast period, supported by their better aesthetic feature, durability, minimal maintenance requirements, and availability in a variety of colors and designs. On the basis of comprehensive research, Lucintel forecasts that the residential segment is expected to show above average growth during the forecast period.
Within the ceramic tile market, the residential segment is expected to remain the largest market. People opt for ceramic tiles, as it fulfills all desired requirements, and choose this product mainly because it requires low maintenance and provide an aesthetic appeal to the building.
APAC is expected to remain the largest and the highest growing region during the forecast period due to a comparatively large construction industry in this region, along with changing lifestyle and growing end-use industries, especially in China and India, and increasing urbanization in this region.
For market expansion, the report suggests innovation and new product development where the unique characteristics of ceramic tiles can be capitalized. Some of the innovation areas in ceramic tiles could be in achieving comparatively high durability and good aesthetics.
Emerging trends in the global ceramic tile market, which have a direct impact on the dynamics of the industry, include increasing demand for vitrified tiles, 3D tiles, designer tiles, acceptance of eco-friendly tiles, and introduction of nano-technology. Mohawk Industries, Inc., Atlas Concorde, Ras Al Khaimah Ceramics PSC, Grupo Lamosa, and Interceramic are among the major suppliers of ceramic tiles. Some companies are opting for M&A as a strategic initiative for driving growth.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global ceramic tile market by application type, product type, and region and has come up with a comprehensive research report, "Opportunities in the Global Ceramic Tile Market 2016-2021: Trends, Forecast, and Opportunity Analysis." The Lucintel report serves as a spring board for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions.
The study includes a forecast for the growth opportunities in the global ceramic tile market by application type, product type, and region as follows:
By application type (Value $ Million and Volume Million sqm from 2010 to 2021)
By product type (Value $ Million and Volume Million sqm to from 2010 2021)
Floor Tile Wall Tile Other Tile
By region (Value $ Million and Volume Million sqm to from 2010 2021)
North America Europe Asia Pacific Rest of the World
This unique report from Lucintel will provide you with valuable information, insights, and tools needed to identify new growth opportunities and operate your business successfully in this market. This report will save hundreds of hours of your own personal research time and will significantly benefit you in expanding your business in this market. In today's stringent economy, you need every advantage that you can find.
To make business, investment, and strategic decisions, you need timely, useful information. This market report fulfills this core need and is an indispensable reference guide for multinational materials suppliers, product manufacturers, investors, executives, distributors, and many more that operate in this market.
Some of the features of "Opportunities in the Global Ceramic Tile Market 2016-2021: Trends, Forecast, and Opportunity Analysis" include:
Market size estimates: Market size estimation in terms of value ($ Mil) and volume (M sqm) shipment. Trend and forecast analysis: Global ceramic tile market trend (2010-2015) and forecast (2016-2021) by product, application, and region. Segmentation analysis: Global ceramic tile market size by various product types such as floor tiles, wall tiles and other tiles both in terms of value and volume. Regional analysis: Global ceramic tile market breakdown by key regions such as North America, Europe, Asia Pacific, and Rest of World. Growth opportunities: Analysis on growth opportunities in different products, applications, and regions. Strategic analysis: This includes M&A, new product development, competitive landscape, and expansion strategies of global ceramic tile market suppliers. Emerging applications: Emerging applications of ceramic tile market. Analysis of competitive intensity of the industry based on Porter's Five Forces model.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for ceramic tiles by product type, applications, and regions?
Q.2. Which product /segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5. What are the business risks and threats of this market?
Q.6. What are the emerging trends in this market and reasons behind them?
Q.7 What are some changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10. How is the competitive rivalry and threat of substitution in this market?
Q.11. What are M&A activities in the last 5 years in this market? What reasons to these activities and how have they impacted the industry?
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