Ceramic Tiles Market Size Worth $178.16 Billion by 2024: Construction News

Ceramic Tiles Market size is set to reach USD 178.16 billion by 2024; according to a new research report by Global Market Insights, Inc.

Increasing construction spending globally is the key factor driving global ceramic tiles market share over the forecast timeframe. Asia Pacific, mainly led by China, Japan and India construction business is experiencing robust growth owing to boost industry growth. China was the major industry contributor, with construction expenses over USD 1.7 trillion in 2015. Government initiatives towards infrastructure development, rising disposable income and high population density are some of the other factors which are positively influencing construction sector, consequently stimulating ceramic tiles market size.

Robust growth in flooring industry, which is an essential portion of residential and commercial structure including airports, railway stations and hospitals, will boost ceramic tiles market share by 2024. In addition, flooring market size in Europe was roughly 3 billion square meters in 2015.

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Key raw materials used in product processing includes silica sand, kaolin, Feldspar and bentonite. In 2015, bentonite clay price was approximately USD 65 per ton. Increasing raw material prices post economic downturn of 2008, will negatively influence ceramic tiles market share over the forecast timeframe. Furthermore, rising demand of these raw materials across various end user industries including thermal & electrical insulation, glass, paints, food packaging and refractories may affect ceramic tiles market price trend.

Sanitary ware and ceramic tiles processing (machining operations, drying, firing) results in dust formation, GHG emissions and formation of particulate matter. This may further hamper industry growth due to stringent environmental regulations.

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