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18th August 2017

 

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Ceramic sanitaryware market worth $59.17 Billion USD by 2022

* ceramic-sanitary-ware.jpgA new 158-page report 'Ceramic sanitary ware market by type' published by MarketsandMarkets, estimates the market to be USD 37.42 Billion in 2017 and predicts that it will reach USD 59.17 Billion by 2022, at a Compound Annual Growth Rate of 9.6% from 2017 to 2022.

Growth in the real estate sector, increase in demand for ceramic sanitaryware from Southeast Asian countries, change in consumer preferences and a shift of manufacturing facilities to emerging economies are factors driving the growth.

In addition, rapid urbanisation, rise in disposable income of the middle-class population, and increased hygiene concerns are further contributing to the growth of the market.

The residential application segment accounted for the largest share of the market in 2016 and this is projected to be the largest application segment from 2017 to 2022. Factors such as a rise in disposable income, a change in living standards, flexible government taxation policies and rapid technological advancements are driving the growth in this sector. Furthermore, upcoming infrastructure projects in the residential sector are anticipated to drive the demand for ceramic sanitaryware.

The toilet sinks/water closets segment is expected to be the fastest-growing type segment. This is mainly attributed to the increasing need for sanitation facilities. Increasing awareness of basic sanitation, a rising disposable income and a growing demand for luxurious products are additional factors propelling the demand for toilet sinks/water closets.

The pressure casting segment is projected to be the fastest-growing technology segment of the market. Based on technology, it is projected to grow at the highest CAGR from 2017 to 2022. Pressure casting is an advanced technology that is developed to suit the mass production requirements and increased durability of moulds. The growth of this segment is mainly attributed to the advantages of pressure casting technology, such as low cost and economical production.

Asia-Pacific is projected to be the largest region for market growth from 2017 to 2022. The rise in demand for sanitaryware products, rapid urbanisation and expansion of the real estate sector are factors driving the growth of the market in this region. Upcoming infrastructure projects in energy, transport networks and the residential sectors are also expected to drive demand.

Key players operating in the ceramic sanitary ware market include Roca Group (Spain), Geberit Group (Switzerland), Toto (Japan), RAK Ceramics (UAE), Lixil (Japan), Duravit (Germany), Ideal Standard International (Belgium), Hsil (India), Villeroy & Boch (Germany), and Duratex (Brazil), among others.

The objectives of this study were to:

* To estimate and forecast the market size of ceramic sanitary ware in terms of volume and value
* To provide detailed information regarding major factors (drivers, restraints, and opportunities) influencing the growth of the market
* To define, describe, and forecast the market size on the basis of type into wash basins, toilet sinks/water closets, urinals, cisterns, and others
* To define, describe, and forecast the market size on the basis of application into commercial (office, institutional and retail, industrial, and hospitality) and residential (single family and multi-family)
* To forecast the size of the market based on five major regions, namely, Asia-Pacific, North America, Europe, the Middle East & Africa, and South America
* To strategically analyse micromarkets with respect to individual growth trends, growth prospects, and their contribution to the overall market
* To analyse opportunities in the market for stakeholders and provide a competitive landscape of market leaders
* To track and analyse recent developments such as mergers & acquisitions, expansions, and new product developments in the market
* To strategically profile key market players and comprehensively analyse their core competencies

T: +1-888-600-6441
E: sales@marketsandmarkets.com
W: www.marketsandmarkets.com

30th June 2017




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