PUNE, India, June 29, 2017 /PRNewswire/ --
The report "Ceramic Sanitary Ware Market by Type (Wash Basins, Toilet Sinks/Water Closets, Urinals, Cisterns), Application (Commercial and Residential), Technology (Slip Casting, Pressure Casting, Tape Casting, Isostatic Casting), and Region - Global Forecast to 2022", published by MarketsandMarkets™, the market is estimated to be USD 37.42 Billion in 2017 and is projected to reach USD 59.17 Billion by 2022, at a CAGR of 9.6% from 2017 to 2022.
Browse 123 market data tables and 30 figures spread through 158 pages and in-depth TOC on "Ceramic Sanitary Ware Market"
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Growth in the real estate sector, increase in demand for ceramic sanitary ware from Southeast Asian countries, change in consumer preferences, and shift of manufacturing facilities to emerging economies are factors driving the growth of the ceramic sanitary ware market. In addition, rapid urbanization, rise in disposable income of the middle-class population, and increased hygiene concerns are further contributing to the growth of the market.
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The residential application segment accounted for the largest share of the ceramic sanitary ware market in 2016
The residential segment is projected to be the largest application segment of the ceramic sanitary ware market from 2017 to 2022. Factors such as rise in disposable income, change in living standards, flexible government taxation policies, and rapid technological advancements are factors driving the growth of the ceramic sanitary ware market in the residential application segment. Furthermore, the upcoming infrastructure projects in the residential sector are anticipated to drive the demand for ceramic sanitary ware.
The toilet sinks/water closets segment is expected to be the fastest-growing type segment of the ceramic sanitary ware market
The growth of the toilet sinks/water closets segment is mainly attributed to the increasing need for sanitation facilities. Increasing awareness for basic sanitation, rising disposable income, and growing demand for luxurious products are additional factors propelling the demand for toilet sinks/water closets.
The pressure casting segment is projected to be the fastest-growing technology segment of the ceramic sanitary ware market
Based on technology, the pressure casting segment is projected to grow at the highest CAGR from 2017 to 2022. Pressure casting is an advanced technology that is developed to suit the mass production requirements and increased durability of molds. The growth of this segment is mainly attributed to the advantages of pressure casting technology, such as low cost and economical production.
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Asia-Pacific was the largest ceramic sanitary ware market in 2016
Asia-Pacific is projected to be the largest region for Ceramic Sanitary Ware Market from 2017 to 2022. The rise in demand for sanitary ware products, rapid urbanization, and expansion of the real estate sector are factors driving the growth of the ceramic sanitary ware market in this region. In addition, the upcoming infrastructure projects in energy, transport networks, and residential sectors are expected to drive the demand for ceramic sanitary ware products in the Asia-Pacific region.
Key players operating in the ceramic sanitary ware market include Roca Group (Spain), Geberit Group (Switzerland), Toto Inc. (Japan), RAK Ceramics (UAE), LIXIL Corporation (Japan), Duravit AG (Germany), Ideal Standard International S.A. (Belgium), HSIL Ltd. (India), Villeroy & Boch (Germany), and Duratex S.A. (Brazil), among others.
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