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Ceramic Floor & Tiles Market size is forecast to reach US$589.5 billion by 2027, after growing at a CAGR of 7.3% during the forecast period 2022-2027.

HYDERABAD, TELANGANA, INDIA, January 24, 2023 /EINPresswire.com/ -- Ceramic Floor & Tiles Market size is forecast to reach US$589.5 billion by 2027, after growing at a CAGR of 7.3% during the forecast period 2022-2027. Ceramic tiles in comparison with mosaics tile has several advantages such as affordability, easy maintenance and more. As a result, the adoption of ceramic tiles in earthenware, stoneware, and more is surging, which is benefiting the growth of the market. The growth of commercial construction activities across the world is benefiting the Ceramic Floor & Tiles Market. Moreover, the growth of residential construction activities worldwide is projected to fuel the demand for ceramic floors and tiles. This, in turn, will propel the Ceramic Floor & Tiles Market growth in the projected forecast period of 2022-2027.

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Key takeaways:

This IndustryARC report on the Ceramic Floor & Tiles Market highlights the following areas -

1. Asia-Pacific region dominated the Ceramic Floor & Tiles Market, owing to the growing commercial construction industry in the region. For instance, in August 2021, construction work began for the Hotel Okura Shanghai Sheshan based in Japan. This project will be completed by the end of 2024.

2. The factors such as the rising purchasing power of people, and the growing need for new residential construction projects, along with other factors, are fueling the growth of the residential construction sector, which is driving the Ceramic Floor & Tiles Market growth.

3. The rise in the new construction activities due to the factors such as increasing infrastructure needs, growing commercial space, and more such factors are creating an opportunity for the growth of the market in the upcoming years.

4. However, the volatility in the raw material prices is anticipated to restrict the growth of the Ceramic Floor & Tiles Market growth in the forecast period.

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Segmental Analysis:

1. Ceramic Floor & Tiles Market Segment Analysis – By Application : The ceramic floor and tiles have superior advantages such as higher durability, water resistance, and more. Thus, ceramic floors and tiles are often utilized in floor application to ensure strength. The surging construction activities across the growth are driving the growth of the ceramic market and the application on the floor is increasing.

2. Ceramic Floor & Tiles Market Segment Analysis – By End-Use Industry : The commercial segment held the largest share in the Ceramic Floor & Tiles Market in 2021 and is forecasted to grow at a CAGR of 8.1% during the forecast period 2022-27. Ceramic tiles ensure protection from stains and abrasion and they require less maintenance in comparison with mosaics tiles. As a result, ceramic tiles are the key components used in the commercial construction industry for building interior and exterior floors, swimming pools, roofs, and more.

3. Ceramic Floor & Tiles Market Segment Analysis – By Geography : Asia-Pacific region is the dominating region as it holds the largest share in the Ceramic Floor & Tiles Market in 2021 up to 45%. Due to the rapid pace of industrialization in the Asia-Pacific region, there is a surge in the development of office buildings, and more commercial buildings such as hospitals, schools, and more. Due to these factors, the development of commercial construction projects in the Asia-Pacific region is increasing.

Competitive landscape:

The top 5 players in the Ceramic Floor & Tiles industry are:

1. Mohawk Industries Inc.
2. Siam Cement Group
3. Grupo Lamosa
4. Grupo CEDASA
5. RAK Ceramics PJSC

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Related Reports:

A. Ceramic Tiles Market
https://www.industryarc.com/Report/15224/ceramic-tiles-market.html

B. Flooring Market
https://www.industryarc.com/Report/18860/flooring-market

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