Irving, TX -- (SBWire) -- 09/02/2016 --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 expected to reach by $107 billion by 2021 with 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.
This report has 189 figures/charts and 85 tables spread through 249 pages
http://www.lucintel.com/ceramic_tile_market_2016-2021.aspx
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)
-Residential
-Commercial
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 249-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link http://www.lucintel.com/ceramic_tile_market_2016-2021.aspx or helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
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?
Ceramic Tile Market Is Expected to Reach an Estimated $107 Billion by 2021
Opportunities in the Global Ceramic Tile Market 2016-2021: Trends, Forecast, and Opportunity Analysis