Porcelain To Dominate Ceramic Tile Market

The global ceramic tiles market is projected to grow from US$207.7 billion in 2020 to $285.1 billion by 2025, at a compound annual growth rate (CAGR) of 6.5 per cent during the forecast period, says a report by Marketsandmarkets.com. The increase is supported by growing investments in the construction industry coupled with a rise in the number of renovation and remodeling activities. Porcelain is projected to dominate the ceramic tiles market. This tile material acquired the largest share in the market in 2019, in terms of value, and is projected to grow at the highest CAGR during the forecast period. The demand for porcelain tiles in recent years has been increasing due to their superior properties, such as low water absorption, slip resistance, and anti-bacterial properties. These properties make porcelain tiles highly popular for kitchens, bathrooms, and hospitals. The flooring segment is projected to grow at the highest CAGR during the forecast period.