Ceramic Tiles Market to Reach US$178.10 Billion by 2024
The presence of a plethora of players competing against one another is what renders the global ceramic tiles market increasingly competitive, finds Transparency Market Research (TMR). In the coming years, the market is expected to witness constant entry of new players, which is likely to up the ante for incumbent ones. A growing number of ceramic tiles manufactures are mainly focusing on developing high-quality products with unique designs to attract end users, in a bid to gain a better hold over the ceramic tiles market.
Several emerging and established players in the ceramic tiles market are aiming primarily at the strategies of differentiating their products and expanding the product portfolio, in order to gain a competitive edge over their peers and rivals. TMR observes that numerous manufacturers of ceramic tiles are also engaged in consolidating their reach to new geographic regions. A growing number of companies in the ceramic tiles consider it beneficial to curtail the overall cost of manufacturing to achieve economies of scale.
Some of the top players in the global ceramic tiles market are Crossville Inc., Siam Cement Group, Lamosa Grupo, Kajaria Ceramics, and Florida Tile, Inc.
The global ceramic tiles market stood at US$99.74 billion in 2017 and is forecast to reach a revenue of US$178.10 billion by the end of 2024. During the assessment period of 2017-2024, the global ceramic tiles market is projected to rise at a robust CAGR of 9.90%.