Asia Pacific to witness highest growth in ceramic tiles market over 2016-2024

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Asia Pacific to witness highest growth in ceramic
tiles market over 2016-2024 Fractovia.org
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Overview

• Asia Pacific ceramic tiles market size is
  expected to record a CAGR of 10 over 2016-2024
  due to rise in expenditure in construction
  industry.
• Rising expenditure on construction activities
  worldwide is anticipated to favorably influence
  ceramic tiles market over the coming years.
• Government initiatives to propel infrastructure
  growth, rising per capita income, foreign
  investment, and increasing population are few of
  the factors predicted to benefit construction
  industry, consequently stimulating ceramic tiles
  market size.
• Strong growth in flooring industry, which holds a
  significant importance in commercial and
  residential infrastructure such as hospitals,
  airports, and railway stations, is predicted to
  catalyze the market share over the coming eight
  years.
• According to Global Market Insights, Inc.,
  Ceramic Tiles Market share worth USD 77 billion
  in 2015, is expected to reach USD 178 billion by
  2024, growing at a rate of 9.8 over 2016-2024.

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Product Trends

• Ceramic tiles find significant applications in
  residential and commercial sectors.
• Emerging residential projects will further bring
  a wide set of opportunities for the ceramic tiles
  market players.
• Ceramic tiles application in residential
  replacement sector worth USD 36 billion in 2015,
  is predicted to witness a substantial growth over
  2016-2024.
• Increasing spending on renovation activities to
  improve appearance of walls and floors is
  predicted to fuel the demand for ceramic tiles
  applications in residential replacement sector.
• Its application in commercial sector is
  anticipated to grow at a rate of 9.8 over
  2016-2024 due to growing demand for ceramic tiles
  to provide aesthetic look to commercial
  structures like workplaces, shopping malls, and
  airports.

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Application Trends

• Ceramic tiles products such as wall tiles and
  floor tiles are witnessing heavy demand across
  various industries.
• Ceramic wall tiles market is forecast to grow at
  a rate of 9.5 over 2016-2024 as they are
  sunlight resistant which helps them to retain
  color for longer period and makes them widely
  preferred in walls. Furthermore, these tiles are
  extensively used in kitchens owing to their ease
  of cleaning and aesthetic appeal.
• Floor ceramic tiles market share produced a
  revenue of over USD 39 billion in 2015 and is
  expected to witness a substantial growth over the
  coming eight years owing to its high durability
  as well as shock thermal resistance properties.
  In addition to this, ease of replacing and
  installing these tiles is predicted to increase
  its popularity in near future.

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Competitive Trends

• Key industry players include Kajaria Ceramics
  Limited, Ras Ceramics, China Ceramics Company
  Limited, Ceramiche Atlas Concorde S.P.A, and
  Saloni Ceramica. Regional expansion and product
  innovation will be the key growth strategies
  witnessed by the industry over the coming years.
• Ceramic tiles market share is considerably
  fragmented. Mohawk Industries, Siam Cement Group,
  Ras Al Khaimah Ceramics, Lamosa Grupo and Kajaria
  Ceramics are prominent industry players.

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Regional Trends

• Asia Pacific ceramic tiles market is expected to
  record a CAGR of 10 over 2016-2024 due to rise
  in expenditure in construction industry.
  Furthermore, rising preference for marble floors
  along with replacement of metal slabs, paints,
  and home decorative items with ceramic tiles are
  expected to boost the regional growth over the
  coming years. South Korea, Japan, and India are
  predicted to be the key revenue pockets of the
  region over the coming eight years.
• North America market worth USD 1 billion in 2015,
  is anticipated to witness a significant surge
  over forecast timeframe due to growing remodeling
  practice coupled with forthcoming construction
  projects comprising commercial as well as
  residential constructions. U.S. ceramic tiles
  market is expected to make a substantial
  contribution towards the overall revenue of the
  region.

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