Increasing construction activities across the globe, particularly in developing economies, have provided vast growth opportunities for the global ceramic tile market. According to a recent market research report by Transparency Market Research, the global ceramic tile market is projected to expand at a 9.8% compound annual growth rate (CAGR) from 2016-2024. In terms of value, the market is anticipated to increase from $76.81 billion in 2015 to a possible $178.1 billion by 2024.
Asia-Pacific is the chief manufacturing hub for ceramic tile on a global front. Known to be one of the fastest-growing regions for ceramic tile, Asia-Pacific held nearly 66% of the global market in 2015. A leader in terms of both consumption and manufacturing, Asia-Pacific has become the preferred location for several leading tile manufacturers and vendors.