Global Ceramic Tiles Market is Expected to Reach USD 112.32 Billion by 2019 : Transparency Market Research

Albany, NY (PRWEB) February 09, 2015

Transparency Market Research has released a new market report titled Ceramic Tiles Market (Floor Tiles, Wall Tiles and Other Tiles) for Residential Replacement, Commercial, New Residential and Other (Countertops, Facades, etc.) Applications - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 2019.

According to the report, the ceramic tiles market was valued at USD 60.74 billion in 2012 and is anticipated to reach USD 112.32 billion by 2019, expanding at a CAGR of 9.2% from 2013 to 2019. In terms of volume, demand for ceramic tiles stood at 11,199.6 million square meters in 2012.

Browse the full Ceramic Tiles Market report at http://www.transparencymarketresearch.com/ceramic-tiles-market.html

Ceramic tiles are used in myriad applications. Usually, ceramic tiles are brittle, strong and hard; They are weak in tension and shearing. These properties help ceramic tiles offer resistance to harsh environments, high temperatures and acidic or caustic materials. Globally, the demand for ceramic tiles is primarily driven by an increase in construction activities, especially in new residential applications. Also, the technological innovations have led to better production processes and enhancement in the aesthetic appeal of ceramic tiles. These are likely to be the major driving factors for the ceramic tiles market.

Volatility in energy prices and strict government regulations are expected to offer key challenges to market players.

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

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Asia Pacific accounted for about 66% of the total ceramic tiles 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 tiles. This can be ascribed to growing economies in the region. Asia Pacific has emerged as a key destination for producers of ceramic tiles owing 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 tiles. In terms of revenue, the market for ceramic tiles in the region is estimated to expand at a CAGR of about 7.6% from 2013 and 2019.

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Global Ceramic Tiles Market is Expected to Reach USD 112.32 Billion by 2019 : Transparency Market Research