PORTLAND, Oregon and PUNE, India, March 15, 2017 /PRNewswire/ --
According to a new report published by Allied Market Research, titled, "Ceramic Tiles Market - Global Opportunity Analysis and Industry Forecast, 2014 - 2022", the ceramic tiles market was valued at $84,123 million in 2015, and is projected to reach $145,949 million by 2022, growing at a CAGR of 8.1% from 2016 to 2022. Asia-Pacific held nearly one-third share of the global market in 2015.
Summary of the Ceramic Tiles Market Report can be accessed on the website at: https://www.alliedmarketresearch.com/ceramic-tiles-market
Ceramic tile is one of the most prevalent flooring choices used in building & construction industry globally. These are made using raw materials such as feldspar, bentonite, kaolin, sand, and glass. These offer reduction in household allergens, are environment friendly, easy to clean, very low maintenance, cost-effective, and are resistant to scratch, moisture, and dust.
The global ceramic tiles market is driven by growth in construction sector worldwide. In addition, increase in use of ceramic tiles as a substitute to other products in residential applications, such as marble, paints, and glass, is expected to fuel the demand for ceramic tiles in the near future. However, stringent regulations pertaining to emissions of exhaust gases during the production of these tiles is expected to restrain market growth. Thus, introduction of environment-friendly production processes is expected to offer lucrative opportunities for market players.
Vitrified ceramic tile held more than half of the total market share in 2015, and is expected to maintain its dominance during the forecast period. This is attributed to the rapid expansion of the construction industry worldwide. In addition, the introduction of new production processes and new product features is expected to boost growth of this segment.
New residential and residential replacement applications dominated the global market, with nearly two-thirds share, in terms of volume, in 2015. Increase in demand for moisture- and dust-resistant properties across residential and commercial applications is anticipated to drive the market growth.
According to Eswara Prasad, Team Lead, Chemicals & Materials at Allied Market Research, "The demand for ceramic tiles in applications, such as residential replacement and new residential, is relatively high. Introduction of new environment-friendly production processes is expected in the near future, owing to presence of stringent regulations in the developed regions."
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KEY FINDINGS OF CERAMIC TILES MARKET STUDY:
- In terms of value, vitrified tile segment is expected to grow at a CAGR of 7.6% during the forecast period.
- Asia-Pacific is projected to maintain its lead position throughout 2022, growing at a CAGR of 9.0%, in terms of value.
- Residential replacement approximately occupied more than one-third of the global market in 2015.
- China occupied more than one-fourth of the Asia-Pacific ceramic tiles market in 2015, and is expected to grow at the highest CAGR of 11.0%, in terms of value.
In 2015, Asia-Pacific and North America collectively accounted for two-thirds of the ceramic tiles market, and are expected to continue this trend during the analysis period. The Asia-Pacific market is expected to grow at the highest CAGR, owing to increase in construction sector in China, India, and other developing economies and rise in housing sector.
Check offers and discount on Ceramic Tiles Market Report: https://www.alliedmarketresearch.com/get-discount/1989
The major companies profiled in the report include RAK Ceramics, Mohawk Industries, Ceramica Saloni, China Ceramics, Kajaria Ceramics, Porcelanosa Grupo, Siam Cement Group, Lamosa Grupo, Ras Al Khaimah Ceramics, and Crossville Inc.
Summary of similar reports can be viewed at: https://www.alliedmarketresearch.com/construction-&-manufacturing/construction-materials-market-report
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions". AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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SOURCE Allied Market Research