Ceramic tiles are present in a diverse set of options. They are made of natural stone and have solid colors in various sizes. The ceramic in stones provide an interesting design to the tile. Ceramic tiles are currently trending due to their ever-expanding adoption in the construction industry. These tiles have become a standard benchmark. Therefore, people are more inclined toward their adoption. According to Fortune Business Insights, the global ceramic tiles market size was valued at USD 54.41 billion in 2021 and is expected to reach a valuation of USD 77.82 billion by 2028with a CAGR of 5.2% during the 2021-2028 period. The availability of various types of ceramic tiles is further boosting its adoption. Majorly, there are three types, glazed tiles, floor tiles, and wall tiles.
The market growth of ceramic tiles is expected to be backed by construction activities in emerging countries. Its versatile features, such as waterproof nature, ease of cleaning, non-absorbent characteristics, and tough enough to be used for outdoor use,make them a perfect fit for any shower stall, kitchen, room, or bathroom. Additionally, it gives an exclusive look to the area, and thus it has become a standard lifestyle benchmark in society.
COVID-19 Impact: Construction Projects Postponement Created Stagnancy in the Market Growth
The COVID-19 outbreak affected the productivity rate and various economies across the world. The market witnessed a downfall in demand due to the postponement of construction projects and activities. Further, government infrastructure projects came to a halt due to the implementation of stringent regulations. The projects were expected to continue, but the downfall in the country’s economy turned out as a resistance to the market growth of ceramic tiles. Further, social distancing norms and shutdown of industries impeded the market growth.
The Top Market Players are as Follows:
- Mohawk Industries Inc.- William Shuttleworth’s sons established the company by taking over an empty factory in Amsterdam, New York in 1878. The company was also associated with top-brand familiarity and top-rated carpet products by Builder magazine in 2015.
In April 2022, Mohawk Industries, Inc. invited people to listen to its conference call on the first quarter of 2022 earnings release, which was broadcasted live on Friday. Mohawk Industries is one of the leading flooring manufacturers and generates good revenue through its quality products worldwide.
- SCG Ceramics-It is one of the leading companies in ceramic tile manufacturing, headquartered in Bangkok. It is based in Thailand and is involved in the manufacturing of wall & floor ceramic tiles and has distribution under various brands such as SOSUCO, CAMPANA, and COTTO. The company operates in NongKhae Industrial Estate, Saraburi Province, factory 1 of NongKhae and factory 2 of NongKhae, and HinKrong factory.
In January 2022, SET-listed SCG Ceramics, which is a subsidiary of SCG Cement-Building Materials, aimed to ignore any hike in prices despite a 10% rise in energy costs and concerns. The company came up with this strategy to gain growth and customers in the market.
- GrupoLamosa-GrupoLamosa is a Mexican company that produces floor tiles, ceramic walls, ceramic adhesives, and bathroom fixtures. The company was founded in 1890 and began its production in 1933.
GrupoLamosa became the first-ever Mexican manufacturer of clay blocks, flooring blocks, and tiles. Initially, the company was known asLadrillera Monterrey, S.A but later changed its name to GrupoLamosa, S.A de C.V.
- RAK Ceramics–It was founded by Saud Bin Saqr AL Qasimi and is one of the most well-known brands of ceramic tiles in the world. The company has its headquarters in the UAE. It produces ceramic floor tiles, porcelain walls, kitchen sinks, sanitary ware, kitchenware, and bathroom tiles.
In June 2020, RAK Ceramics and Azizi developments made an agreement for supplying kitchen and bathroom fittings along with floor and wall tiles in Dubai.
- Dynasty Ceramics–It is a Thailand-based company involved in the construction material category. It was incorporated in 1989 and is headquartered in Bangkok. It is also known by its abbreviation DCC and has captured a major share of the market.
The market share of ceramic tiles is expected to increase consistently due to the constant rising population and urbanization across the world. The rising renovation and replacement activities are also anticipated to bolster growth in the market. Ceramic tiles have become a reliable choice for customers, and thus the market is expected to grow rapidly.