Global ceramic tile market 2016-2021

According to a new market report published by Lucintel, the global ceramic tile market is forecast to grow at a CAGR of 6.7 per cent by value from 2016 to 2021. The major growth driver for this market is the growth in new construction and renovation activities. Growing demand for easy to maintain; better aesthetics; durable; and moisture-, fire-, and scratch-resistant tiles are also some other growth drivers of the ceramic tile market. Floor tile is the largest segment by product forms and is expected to remain the same during the forecast period. Lucintel predicts that the demand for wall tiles is likely to experience the highest growth during the forecast period, supported by their better aesthetic feature, durability, minimal maintenance requirements, and availability in a variety of colors and designs. Within the ceramic tile market, the residential segment is expected to remain the largest market. APAC is expected to remain the largest and the highest growing region during the forecast period due to a comparatively large construction industry in this region, along with changing lifestyle and growing end-use industries, especially in China and India, and increasing urbanization in this region.