Demand from the ceramics market is expected to exceed $ 130 billion by 2027-2028, as reported in the latest study by Global Market Insights Inc.
But why is such a growing trend expected for the ceramic market?
- Product efficiency and many effects. Ceramic is an ideal and durable option due to its low maintenance and great reliability and durability. It is the best solution for bathroom and kitchen floors and countertops due to its properties. In addition, the availability of a wide variety of colors and sizes for interior decoration satisfies the aesthetics and the desire for customization of spaces.
- Construction, an expanding sector. A positive outlook for the construction sector, due to the increase in residential and non-residential buildings, is expected to favor market growth. In addition, many governments offer bonuses and reliefs for renovating and building.
- New consumer preferences. Ceramic is increasingly popular for kitchen and bathroom countertops, floors, decorative walls and various indoor and outdoor applications, being easy to maintain and cheaper than natural stone.
- The value of sustainability. Strict environmental regulations have led to an increase in research and development activities and the creation of increasingly eco-friendly products, which should also stimulate market growth in the years to come.
Market analysis and estimates.
- The ceramic products segment accounted for more than 51% of the total market share in 2020 and is expected to grow rapidly at the CAGR (compound annual growth rate) of 6.3% from 2022 to 2028.
- The glazed / polished ceramic products segment accounted for the second market share in 2020 and is expected to have a significant CAGR over the forecast period 2022-28. This growth is mainly due to the growing demand for the product in the production of kitchens and bathrooms.
- The European regional market accounted for the second highest revenue share in 2020-21 and is projected to grow at a constant CAGR of 5.2% from 2022 to 2028 due to the increased product penetration in the European construction sector.
- Asia Pacific is estimated to be the largest and fastest growing regional market from 2022 to 2028. The growth in the area is attributed to the growing number of construction activities and rapid infrastructure development in emerging countries such as India and China.
