According to a new report published by Allied Market Research, titled, " India Ceramic Tiles Market by Type, Application, End User, and Construction Type: Opportunity Analysis and Industry Forecast, 2020–2027," the India ceramic tiles market size was valued at $3,720.2 million in 2019, and is projected to reach $7,144.7 million by 2027, growing at a CAGR of 8.6% from 2020 to 2027. By volume, the India ceramic tiles market was 821 million square meter (MSM) in 2019, and is projected to reach 1,384 MSM by 2027, growing at a CAGR of 6.9% from 2020 to 2027.
In 2019, by type, the ceramic tiles segment accrued the largest share in the India 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. In addition, increase in use of ceramic tiles as a substitute to other products in residential applications, such as marble, paints, and glass, is expected to fuel the demand for ceramic tiles in the near future. However, stringent regulations pertaining to emissions of exhaust gases during the production of these tiles is expected to restrain the market growth. Thus, introduction of environment-friendly production processes is expected to offer lucrative opportunities for the market players.
Moreover, the wall tiles segment held more than half of the total market share in 2019, and floor tiles segment is expected to maintain its dominance during the forecast period. This is attributed to 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. Similarly, in November 2019, the Government of India has allocated around 3.5 million to revive the housing projects for the growth of real estate sector, which will in turn boost the market growth in the near future. Furthermore, government initiatives to open up the real estate sector for foreign direct investment boost the market growth. For example, in February 2018, the Government of India has approved 100% foreign direct investment in the construction development sector.
The key players profiled in the India ceramic tiles market report include Kajaria, Somany, Prism Johnson, Asian Granito, RAK Ceramics, Simpolo, Varmora, Orient Bell Ceramics, Nitco Tiles, and Sun Heart.
Key Findings of the Study:
- The report provides an extensive analysis of the current and emerging India ceramic tiles market trends and dynamics.
- By type, the ceramic tiles segment dominated the India ceramic tiles market, in terms of revenue in 2019 and others segment is projected to grow at a CAGR of 9.7% during the forecast period.
- By end user, the residential segment registered highest growth in the market in 2019.
- The floor tiles segment is projected to register the highest growth rate in the coming years.
- The report provides an extensive analysis of the India ceramic tiles market trends and emerging opportunities of the market.
- In-depth India ceramic tiles market analysis is conducted by constructing estimations for the key segments between 2020 and 2027.