The worldwide ceramic tile market was valued at $60.74 billion in 2012 and is anticipated to reach $112.32 billion by 2019, according to a recent report from Transparency Market Research, expanding at a compound annual growth rate (CAGR) of 9.2% from 2013 to 2019. In terms of volume, demand for ceramic tile stood at 11,199.6 million square meters in 2012.

 

Ceramic tile is used in myriad applications. Usually, ceramic tile is brittle, strong and hard, but weak in tension and shearing. These properties help ceramic tile offer resistance to harsh environments, high temperatures and acidic or caustic materials. Globally, the demand for ceramic tile is primarily driven by an increase in construction activities, especially in new residential applications. In addition, technological innovations have led to better production processes and enhancement in the aesthetic appeal of ceramic tile. These are likely to be the major driving factors for the ceramic tile market. Volatility in energy prices and strict government regulations are expected to offer key challenges to market players.

 

Floor tile was the predominant ceramic tile product segment, accounting for over 52% of total demand in 2012. Demand for floor tile is expected to rise significantly in the next few years due to increasing urbanization in the emerging economies of the Asia-Pacific region. Demand for new residential houses, coupled with increasing disposable incomes in these economies, is expected to boost the ceramic tile market in the region.

 

Asia-Pacific accounted for about 66% of the total ceramic tile market in 2012, followed by Europe and Latin America. Asia-Pacific is also anticipated to be the fastest-growing regional market in terms of consumption and production of ceramic tile. This can be ascribed to growing economies in the region. Asia-Pacific has emerged as a key destination for producers of ceramic tile due to the economic development and increase in investments in construction projects. This has encouraged various manufacturers to focus on capacity expansions in Asia-Pacific. Europe is the other major region with strong consumption of ceramic tile. In terms of revenue, the market for ceramic tile in the region is estimated to expand at a CAGR of about 7.6% from 2013 to 2019.

 

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