- The rise in construction activities in developing countries, coupled with the availability of abundant raw materials, are some of the factors driving industry growth
- Market Size – USD 73.01 billion in 2019, Market Growth - CAGR of 6.2%, Market Trends –High construction activities across the globe
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.
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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.
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Further key findings from the report suggest
For the purpose of this report, Reports and Data have segmented into the ceramic wall tiles market on the basis of raw material, dimensions, application, and region:
Raw Material Outlook (Revenue, USD Billion; 2017-2027)
Dimensions Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
Regional Outlook (Revenue, USD Billion; 2017-2027)
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