India Ceramic Tiles Market
The Government of India has launched several programs which are helping tile industry to grow and flourish.
PORTLAND, OR, UNITED STATES, September 17, 2020 /EINPresswire.com/ — The India ceramic tiles market has witnessed significant growth over the past decade, owing to a rise in investment in various end-user industries such as residential construction. A number of players are expanding their business around the country, owing to the increased customer base, enhanced effective operations, developed product portfolios, and expanded geographical reach.
According to the report published by Allied Market Research, the India ceramic tiles market generated $3.72 billion in 2019 and is estimated to reach $7.14 billion by 2027, registering a CAGR of 8.6% from 2020 to 2027. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenarios.
In 2019, by type, the ceramic tiles segment accrued the largest share in the Indian ceramic tiles market. In addition, the expansion of the residential construction sector and growth in urbanization throughout the country fuels the demand for ceramic tiles. Similarly, based on volume, the ceramic tiles segment registered the highest CAGR.
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The report offers detailed segmentation of the India ceramic tiles market based on type, application, end-user, and construction type.
Based on application, the wall tiles segment contributed to the largest share in 2019, accounting for around three-fifths of the total share, and is estimated to maintain its dominant position during the forecast period. However, the floor tiles segment is expected to register the highest CAGR of 9.2% from 2020 to 2027.
Ceramic and vitrified tiles manufacturing companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans. Thus, the manufacturers are trying to protect their workforce, and enhance the operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19. Such a factor will hinder the market growth.
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Based on type, the ceramic segment accounted for the largest share in 2019, holding nearly half of the total share, and is expected to maintain the largest share throughout the forecast period. However, the vitrified segment is estimated to portray the highest CAGR of 9.2% during the forecast period.
Based on end-user, the residential segment contributed the highest share, accounting for more than four-fifths of the total market share in 2019, and will maintain its dominance throughout the forecast period. Moreover, the same segment is expected to grow at the highest CAGR of 9.0% from 2020 to 2027.
Moreover, the wall tiles segment held more than half of the total market share in 2019, and the floor tiles segment is expected to maintain its dominance during the forecast period. This is attributed to an increase in government investments in residential projects in the country. For instance, in July 2019, around 8 million houses have been planned to be built under the “Housing for All by 2022” government initiative.
Leading market players analyzed in the research include Kajaria, Prism Johnson, Somany, RAK Ceramics, Asian Granito, Varmora, Simpolo, Nitco Tiles, Orient Bell Ceramics, and Sun Heart.
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Source: EIN Presswire