The worldwide ceramic tiles market is sliced further into three categories. These include applications, products and geographies. On the basis of applications, the market is segmented into commercial, residential replacement, new residential and others. ‘Others’ comprises countertops, facades, etc. The various products of the ceramic tiles market are wall tiles, floor tiles and others.
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The geographies sector is fragmented further into five regions. These are North America, Asia Pacific, Latin America, rest of the world and Europe. Boost in building operations around the world drives demand for the ceramic tiles market. The forecast phase of this market lasts from 2013 to 2019. The market is anticipated to reach about USD 125 billion by 2020.
Building operations in BRIC countries and increased demand for residential constructions in the developing nations of India and China (owing to modernization) are also projected to drive the ceramic tiles market. Stern policies of ecology in relation to carbon ejections caused during the manufacture of ceramic tiles have coerced participants of the ceramic tiles market to raise their research expenses on bio-friendly products.
This factor is estimated to open new development prospects for the market. Residential replacement was reported to be the biggest application in 2013. It occupied nearly 50 percent of the market in terms of revenue. Boost in demand for hard-wearing materials and added consciousness towards personal cleanliness are estimated to grow demand for the ceramic tiles market in residential replacement through the forecast phase.
Floor tiles and Asia Pacific were the biggest product and region respectively with regard to the ceramic tiles market in 2013.
Information Source: Grand View Research