NEW YORK, July 6, 2020 /PRNewswire/ -- The global ceramic wall tiles market is forecast to reach USD 114.78 billion by 2027, according to a new report by Reports and Data. Rapid growth in the construction & building industry in regions, especially Latin America and the Asia Pacific, shall drive ceramic wall tiles demand over the forecasted timeframe. Government investments & initiatives in infrastructure and demographic features in countries in the Asia Pacific are the prime factors propelling product usage in the region. Robust growth in the wall tiles industry is analyzed to positively influence the product demand over the forecasted timeframe. The product is widely used in the industry, particularly due to its durability, value-added aesthetic appearance, and strength. It efficiently reduces the cost related with paints & coatings required in walls. Moreover, it also offers negligible maintenance costs after installation.
Technological advancements in the industry have introduced premium quality products along with excellent appearance. Various ceramic wall tiles manufacturers are now utilizing inkjet printing technology to meet customer demand for aesthetic tiles. However, the prevalence of stringent environmental regulations combined with volatile raw material prices may hinder market growth. Moreover, carbon dioxide emission during the production is expected to hinder product demand during the forecasted timeframe. The emission of carbon dioxide from industries in regions such as North America and Europe has decreased owing to the growing awareness of global warming.
The COVID-19 impact:
The global construction market, once booming due to the commercial and residential construction in the U.S. and China, has been affected by the suspension of the construction activities across the influenced economies. In the United States, the construction industry is anticipated to take a major hit owing to the lockdown imposed by the government during COVID-19 and labor shortages, which is expected to be aggravated by the resulting supply chain problems and financing pressures because of the non-adherence to the completion times.
The industry is projected to witness a surge due to the rising construction business in the Asia Pacific, which has led to an exponential demand for ceramic wall tiles in institutional and residential construction projects.
Rising commercial construction in parts of Latin America will also positively influence the industry growth in the coming few years.
The advent of digital inkjet printing technology has enabled the manufacturers to replicate the color depth, design, and pattern of various natural products, including wood, metals, and marble.
Among the application segment of the ceramic wall tiles industry, commercial construction is presently leading the market with 46.2% of the market share, and it will continue to dominate with an estimate to register the highest CAGR of 6.3% over the forecasted period.
Among the raw material segment of the ceramic wall tiles industry, silica sand is presently leading the market with 31.3% of the market share, and it will continue to dominate with an estimate to register the highest CAGR of 6.3% over the forecasted period.
Key participants include Ceramiche Atlas Concorde S.p.A., Crossville Inc., RAK Ceramics, Cerámica Saloni, Kajaria Ceramics Limited, Somany Ceramics, White Horse Ceramic Industries Sdn Bhd, Guocera Holdings Sdn Bhd, China Ceramics Co., Ltd., and Porcelanosa Grupo A.I.E., among others.
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