Published Date : Feb 06, 2017
ALBANY, NY, Feb 06, 2017: In a report added by MarketResearchReports.biz, the international vitrified tiles market is envisioned to show signs of growth at a 4.0% moderate CAGR between 2017 and 2021. The “Global Vitrified Tiles Market 2017–2021” publication brings to light some of the important growth prospects of the industry and also the current scenario, so as to help the interested parties to make informed decisions.
The report on the world vitrified tiles market presented here elaborates on one of the most ruling drivers, i.e. the rising refurbishment activities worldwide. Property owners are becoming increasingly aware of the aesthetic value of their homes or offices, owing to which the preference for large format tiles with less porosity has seen a significant rise. Since tiles of small sizes bear numerous joints betwixt them, they are commonly rejected by property owners on the parameters of appearance and aesthetic appeal. Besides this, their water resistance property is not as impressive as large-sized tiles. Vitrified tiles are universally more than eight inches in size and come with lesser odds of water penetration. Thus, the demand has surged significantly in the recent years.
A pronounced amount of demand for vitrified tiles has also risen from the construction activities in the non-residential and residential sectors. It can be said that the construction industry has had a direct influence on the growth of the international vitrified tiles market. In fact, researchers have articulated the reliance of the global market for vitrified tiles on the progress of the construction field.
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The global vitrified tiles market could be segmented according to end users, viz. residential, commercial, and other sectors. By geography, the segmentation could follow as Americas, Europe, the Middle East, and Africa, and Asia Pacific. The report has shed light on the vital market trends, impact of drivers and restraints, and vendor landscape along with the weaknesses and strengths of major vendors.
Some of the key vendors profiled in the global vitrified tiles market report are Cermica Carmelo Fior, Ras Al Khaimah (RAK) Ceramics, Mohawk Industries, SCG, and Lamosa. Whereas, other prominent players could be Asian Granito India, ABK, Ascot Group, Altaeco, and PT Arwana Citramulia. A critical market challenge discussed in the report points out the elevating competition from the unorganized companies. Moreover, the slow growth of the housing and residential sectors could proportionally reduce the pace at which the global market is growing. The reason for this relational slowdown in growth is that more than half of the global market share is contributed by the housing and residential sectors.
However, market opportunities are expected to rebirth as the housing sector accumulates a weighty portion of the wealth and is a crucial investment component of most nations in the world.
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