Decorative Tiles Market expected to reach USD 80.22 Billion by 2030 with at a CAGR Of 5.5% By 2030 – Report by Market Research Future (MRFR)
Market Research Future
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Market Research Future
Decorative Tiles Market Information Report, By Product (Ceramic Tiles, Porcelain Tiles, Stone Tiles, and Others), By Application (Floors, Walls, and others), By End-Use (Residential and Commercial) and By Region - Global Forecast To 2030
New York, US, March 08, 2023 (GLOBE NEWSWIRE) -- Decorative Tiles Market Overview
The MRFR analysis reports predict that the Decorative Tiles MarketResearch Report, by Application, Product, End-Use, and Region- Forecast Till 2030, the global market for decorative tiles is predicted to showcase considerable development over the assessment timeframe from 2022 to 2030 with a strong development rate of approximately 5.5%. The reports further anticipate the market to acquire a valuation of around USD 80.22 Billion by the end of 2030. As per the research reports, the market was valued at around USD 73.5 Billion in 2020.
Market Scope
The global market for decorative tiles has grown rapidly in recent years. The main aspect backing the market development is the increase in the construction sectors, such as the non-residential and residential areas. Furthermore, the rising interest among people in utilizing 3D designs is also believed to be one of the prime aspects causing an upsurge in the market's performance.
Competitive Analysis
The catalog for the leading participants across the global market for decorative tiles includes players such as:
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By Product, By Application and Region
Geographies Covered
North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Market Drivers
Increasing private and residential construction
Increased disposable income
Market USP Covered
Market Drivers
The global market for decorative tiles has grown rapidly in recent years. The main aspect backing the market development is the increase in the construction sectors, such as the non-residential and residential areas. Furthermore, the rising interest among people in utilizing 3D designs is also believed to be one of the prime aspects causing an upsurge in the market's performance. Furthermore, factors such as increasing spending on repairing activities, increase in urbanization, rapid adoption of vibrant colors & mesmerizing patterns, and investors' interest in investing in infrastructure development are also likely to flourish the performance of the decorative tiles market over the assessment period.
Market Restraints
However, several aspects may restrict the development of the market's performance. The field has several safety concerns associated with it, which is considered the primary challenge for the market's growth. Furthermore, the rapid fluctuation in the price of the raw materials causing volatility in the prices of the products is also predicted to restrict the market growth over the review era. In addition, the non-availability of laborers with the required skills is another major challenge the decorative tiles market faces worldwide. The market in recent years has experienced a sudden escalation in demand for these tiles, which has put massive pressure on the manufacturing companies to boost production. Moreover, the market has also witnessed a significant setback, given the arrival of the pandemic in 2019.
The global industrial activities and business operations experienced a major setback given to the rise of global health crisis in the form of COVID-19. Along with all the industry operations, the pandemic also affected public health nearly across 225 countries around the world. All of these situations led to the imposition of full or partial lockdowns across majority regions worldwide. Subsequently, the industry operations were halted, and some businesses shut down. Given the sudden fall in demand for construction activities during the pandemic and the halt of the majority of industrial operations, the decorative tiles market faced several unexpected challenges during the pandemic. On the other hand, with the rapid vaccination rates and all the global industrial operations returning to normal, the market is anticipated to experience substantial development over the forecasted timeframe.
Segment Analysis
Among all the products, the ceramic tiles segment is predicted to secure the top spot across the global market for decorative tiles over the review era from 2022 to 2030. The reports by MRFR predict the segment to showcase a substantial development with a healthy growth rate of approximately 3.98% during the review timeframe.
Among all the end-use sectors, the residential sector is predicted to guarantee the prime spot across the global market for decorative tiles over the coming years. the MRFR reports suggest that the segment is predicted to display a growth rate of approximately 4.37% over the review timeframe from 2022 to 2030.
Among all the application areas, the floor as the application segment is predicted to secure the top spot across the global market for decorative tiles over the review era from 2022 to 2030. The reports by MRFR predict the segment to showcase a substantial development with a healthy growth rate of approximately 4.42% during the review timeframe.
The MRFR research document suggests that the North American region is ensured to hold the top spot across the global market for decorative tiles over the assessment era. The main parameter supporting the development of the regional market is the rising demand for industrial buildings across the region. Furthermore, the regional market has experienced a massive rise in investment by the governments, causing a massive impact on adopting the decorative tiles market across the region. Moreover, the development of innovations in both the commercial and residential sectors is also likely to positively impact the performance of the regional market over the assessment timeframe. The regions are known to have nations such as Canada and the US as the leading growth contributors, given the rising reconstruction of the buildings in the past few years.
The decorative tiles market for the Asia-Pacific region is anticipated to display the maximum development over the coming years, mainly due to the rapid urbanization increase. Furthermore, the region has experienced a massive rise in the use of 3D designs coupled with the rise of awareness and disposable income across emerging economies, which is also likely to catalyze the growth of the regional market over the coming years.
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