Literated Market Research : The Global Tile Market Is Estimated To Reach A Total Of ​US $112.32 Billion By The End Of 2019

Literated Market Research : The Global Tile Market Is Estimated To Reach A Total Of ​US $112.32 Billion By The End Of 2019

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Published 12 September 2015
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Title:
Literated Market Research : The Global Tile Market Is Estimated To Reach
A Total Of US $112.32 Billion By The End Of 2019
Literated Market Research:
Summary:Theglobal tile market isestimated to grow at 9.2% CAGR through to 2019    
and reach a total of US $112.32 billion by the end of 2019. Asia Pacific would continue to
lead the world tile market in terms of demand, production and consumption and long
with Europe, the region is expected to have control over 80% of the tile market.
However West Africa is also emerging as a favorite destination for tile manufacturers
given the low production costs and availability of raw materials.
Body
The worldwide ceramic tile market growth is estimated to be at CAGR of 9.2% and is
projected to reach 92.78 billion square feet by 2015, fueled by the anticipated economic
recovery in the medium term and the ensuing resurgence in construction activity aided
by new product innovations.
More than 80% share of the global market is expected to be collectively controlled by the
Asia-Pacific and European region. On the other hand, the US market is expected to see
an erosion of market share.
In the longer term projections, the global ceramictiles marketis expected to reach
US$112.32 billion by the end of 2019. The drivers for growth in this industry include
easy availability of raw materials, rapid growth of the building and construction industry
and increasing technological innovation in manufacturing ceramic tile. It is estimated
that the overall market growth till 2019 would be a healthy CAGR of 9.2%.
The regions and the countries that are expected to do well in terms of growth include
China and India and the developing economies such as Latin America and Africa.
Om the global scale, the demand forceramic tilesis expected to be higher in Asia Pacific  
compared to North America, Europe, Latin America, and Rest of the World. In terms of
production and consumption , Asia Pacific market is expected to be the fastest growing
in the ceramic tile industry and is growing up into a key destination for several major
players and manufacturers of ceramic tiles in the world.
Emergence of West Africa as a manufacturing hub for the ceramic industry is also
expected to have a positive impact on the tile market. The drivers for this region are the
low manufacturing cost when compared to countries of North America and Europe and
the availability of raw materials.
The ceramic tile industry is an integral part of the construction industry. Both
residential and commercial buildings use tiles and an increase in the construction
activities coupled with enhanced product quality and innovation in products has led to
the high demand for ceramic tiles across the globe. High per capita income and
spending, growing economies, urbanization and the emergence of the new economies
has fueled the rise in demand for residential and commercial tiles.
For more reports on Tile market visit
https://literated.com/industry/Tile-Market
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