Companies leading with India Ceramic Tiles market are Asian Granito, Cera Sanitary Ware, Ceramic, Euro Ceramics, Kajaria, Murudeshwar Ceramics Ltd, NITCO Ltd, Orient Bell Ltd, Somany, and Others.
According to Markntel Advisors Insights, India Ceramic Tiles Market is projected to grow at a CAGR of around 8.2% during the forecast period, i.e., 2023-28. Markntel Advisors is a leading consulting, data analytics, and market research firm, that offers analytical reports with in-depth market insights. The report is further bifurcated, By Type (Conventional Ceramic Tiles, Polished Vitrified Tiles, Glazed Vitrified Tiles), By Application (Floor Tiles, Wall Tiles, Others), By Demand Application (Fresh Sales, ReplaCeramic Tiless), By End Users (Homes, Commercial Establishments, Others), By Distribution Channel (Direct Sales, Authorized Channel Partners, and Others.
The flourishing growth is further attributed to the concrete government policies and frameworks that have led to the growth of the real estate sector in the historical period. Moreover, a swift upsurge in projects demanding immediate renovation and remodeling is likely to robust industry growth. Furthermore, government schemes, such as Mission Smart Cities and Pradhan Mantri Awas Yojana, among others, are expected to bolster the real estate market growth and, in turn, facilitate the commercial adoption of such tiles across the country.
Scope and Segmentation of Report:
- Historical Years: 2018-21
- Base Years: 2022
- Forecast Years: 2023-28
- CAGR: 8.2%
- Report Coverage: Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends
- Segments Covered: Type, Application, End User, and Distribution Channel
- Regions Covered: North, East, South, and West
Trends and Challenges Influencing India Ceramic Tiles Market
Polluting elements, including smoke and unburnt particles from fuels, aerosol particles, suspended dust particles, and glaze spray particles are released during the manufacturing of tiles. This considered as one of the prominent factors restricting industry growth is the growing concern associated with the environmental impact caused by the production of ceramic tiles. These aspects are likely to inflate the production cost of these tiles, thereby hindering market growth in the coming years.
However, rapid urbanization further boosts the demand for residential and commercial construction market in the country. The recovery and growth in the construction industry is one of the major factors that bolster the growth of the India ceramic tiles market. Moreover, the country is witnessing absolute growth in urban population, owing to growing income levels of the middle class and stable democracy. Furthermore, numerous major players across India are heavily investing in product innovations, such as the development of germ-free, anti-skid, and scratch-free ceramic tiles, thereby providing a boost to the market growth. Some of the other factors contributing to the market growth across the country include the inflating disposable income levels of the masses and the rising preference for modern residential spaces with aesthetic flooring solutions.
Segmentation Analysis:
Homes Segment Acquired the Leading Position in Previous Years
Based on End Users, the homes segment attains the largest market share, driven by tile printing technologies like 3D printing, and digital printing, among others. While growing disposable income, government initiative towards “Home for all” drives the residential segment market residential segment experiences growth at faster pace. Additionally, the advanCeramic Tiles of ink-jet digital printing technology is opening up significant market expansion opportunities.
Future Outlook of India Ceramic Tiles Market
As per the analytical report published by Markntel Advisors, the ceramic tiles industry is anticipated to grow & flourish during the forecast period as the above-stated factors are changing the market landscape and opening doors to the market players. Market players can enhance their market size & revenue by meeting the changing market dynamics and evolving consumer expectations. Additionally, market players with the help of SWOT analysis can adjust their existing settings regarding the evolving market trends, which would ultimately augment the size & volume of the entire industry at the national level
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