DUBLIN--(BUSINESS WIRE)--The "Vitrified Tiles Market by Product Type, Distribution Channel, Application and End User: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
The global vitrified tiles market was valued at $448.6 billion in 2020, and is projected to reach $757.0 billion by 2030, registering a CAGR of 5.0% from 2021 to 2030.
Vitrified tile offers a large selection of design, art, and surface textures and patterns such as wood grain, bamboo, slate, and stone. This is likewise a costly procedure.
However, digital printing processes are introduced, hence the cost is decreasing and vitrified tiles are becoming economical. These tiles are ideal for use on walls, floors, counter-tops, and other surfaces. The vitrified tile is coated with a unique finish that seals and protects it, while also increasing its longevity. Vitrified tiles come in a wide range of colors, patterns, styles, and sizes.
The market is primarily driven by an increase in demand for residential and commercial infrastructure improvements. Furthermore, government measures to assist the tile sector continue to fuel the Indian vitrified tile industry's expansion. Similarly, increased demand for residential construction propels the industry growth. The influence of GST and the low replacement rate of tiles, on the other hand, have a direct impact on market growth. Furthermore, the market's expansion is projected to be aided by increased innovation in tile production and printing machinery.
Various key players are strengthening their market position and improving their product portfolio with latest design of vitrified tile. For instance, in August 2020, Vitero Tiles introduced Soir, a new glazed vitrified tile line. This new collection comes in seven colors and is inspired by the look of Italian and French marble. Vitero hopes to expand its product line with the debut of Soir. Hence, this strategic move in business will increase the demand for vitrified tiles and hence, is expected to provide lucrative growth in the market during the forecast period.
The vitrified tiles market is segmented on the basis of product type, distribution channel application, end user, and region. By product type, the market is divided into glazed vitrified tiles, full body vitrified tiles, and double charged vitrified tiles. By distribution channel, the market is divided into online, and offline. By application, it is divided into floor tiles, and wall tiles. By end user, it is divided into residential, and non-residential. Region wise, the market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Thailand, Vietnam, Indonesia, Philippines and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
Key Benefits
- The report provides an extensive analysis of the current and emerging vitrified tiles market trends and dynamics.
- In-depth market analysis is conducted by constructing market estimations for the key market segments between 2020 and 2030.
- Extensive analysis of the vitrified tiles market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
- A comprehensive analysis of all regions is provided to determine the prevailing opportunities.
- The global vitrified tiles market forecast analysis from 2021 to 2030 is included in the report.
- The key market players within vitrified tiles market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the vitrified tiles industry.
Market Dynamics
Drivers
- Rise in urbanization & industrialization in developing countries
- Increase in spending on home remodeling
- Recovery in the construction sector
Restraint
- Volatile raw material prices
- Popularity of natural stones for flooring
Opportunities
- Implementation of advanced digital printing
Key Players
- ABK Group
- Altaeco S.p.A
- Aparna Enterprises Ltd
- Asian Granito India Limited
- Casalgrande Padana spa
- Ceramica Del Conca spa
- Kajaria Ceramics Limited
- Lamosa Group
- Mohawk Industries, Inc.
- SCG Ceramics
For more information about this report visit https://www.researchandmarkets.com/r/5utx56
