Multiple Trends Driving Demand for Large-Format Ceramic Panels
Europe accounted for the largest regional share of the market in 2016, at around 65%.
The global market for large-format ceramic panels is projected to grow at a compound annual growth rate (CAGR) of nearly 15.7% by volume and 10.7% by value from 2017-2025, according to a recent report available from Research and Markets. Trends driving growth include advancements in the construction sector, strong established distribution channels, innovation and technological development in manufacturing processes, and the inclination of consumer behavior toward large-format seamless ceramic tile.
During the forecast period, demand growth for large-format ceramic panels is expected to advance due to high applicability in varied end-user applications. Large-format ceramic panels are increasingly being used in flooring, interior and exterior walls, and countertops in many high-end commercial and residential buildings.
Europe accounted for the largest regional share of the market in 2016, at around 65%. The region is predicted to advance at a significant rate due to soaring growth in the construction sectors, economic development and changing consumer preferences.
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