Ceramic Sanitary Ware Market revenue to surpass USD 60 Billion by 2033, says Research Nester
Major ceramic sanitary ware market players include Roca Sanitario, S.A.U., Kohler Co., TOTO LTD, Geberit International AG, LIXIL Corporation, RAK Ceramics PJSC, Villeroy & Boch AG, Grohe AG, DURAVIT Aktiengesellschaft, and Hansgrohe Deutschland Veryriebs Gmb,
New York, Feb. 05, 2024 (GLOBE NEWSWIRE) — The global ceramic sanitary ware market size is slated to expand at ~6% CAGR between 2023 and 2033. The market is poised to garner a revenue of USD 60 billion by the end of 2033, up from a revenue of ~USD 50 billion in the year 2022.The increasing utilization of ceramic materials in the construction sector across the world is estimated to boost the market growth of ceramic sanitary ware in the coming years. The increasing spending of the construction industry is expected to fuel the market growth. The total construction expenditure in 2023 in the U.S. was USD 2000 Billion as per the statistical data.
Request Free Sample Copy of this Report @ https://www.researchnester.com/sample-request-4666
Moreover, the growing improvements in the infrastructure of houses, buildings, and offices are projected to propel the market size progress. The demand for ceramic tiles in the washrooms, kitchens, and floors is booming on account of their easy maintenance and elegant look is predicted to strengthen the market growth. The consumption of ceramic tiles in 2022 across the world was over 15 billion square meters as per the stats.
Escalating Count of Residential Construction and Enhancement in the Real Estate Sector is Propelling the Growth of the Ceramic Sanitary Ware Market
The demand for ceramic sanitary ware is going up with the multiplying construction of residential and other commercial buildings. In the year 2023, in the U.S. the number of residential construction permits given was nearly 1,460,000 as per the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.
Ceramic Sanitary Ware Market: Regional Overview
Expanding Commercial and Industrial Buildings is Reckoned to Fuel the Market Growth in the Asia Pacific Region
The ceramic sanitary ware market in Asia Pacific region is projected to acquire a market share of 32% in the coming years. The market growth is attributed to the traditional use of ceramic sanitary ware in the region from ancient times. Further, government programs to increase awareness among people about sanitary necessities are also estimated to proliferate the market size. The flourishing trend of remodeling the household setup to meet the modern style of interiors is also envisioned to strengthen the market expansion. As per the reports, the Asia region is the largest ceramic tiles consumer with a usage of more than 10 Billion square meters of tiles in the year 2022.
Make an Inquiry Before Buying this Report @ https://www.researchnester.com/inquiries-before-buying-4666
Augmenting Public Transportation and Environmental-Friendly Products is Protruded to Hike the Market Expansion in the North America Region
The North American region market during the forecast period is estimated to hold a sustainable market share of 29% owing to the fostering public transport system. The growth of the market is also attributed to the presence of hotels, hospitals, educational centers, and public and hospitality buildings. The mounting preference of people for coordinated sanitary ware and eco-friendly materials is likely to improve the market growth opportunities in the region in the coming years. In the U.S. nearly 60% of landholders prefer sustainable and energy-efficient products such as low-flow toilets, water-saving faucets, and LED lights for remodeling their bathrooms.
Ceramic Sanitary Ware, Segmentation by Product Type
- Washbasins & Kitchen Sinks
- Water Closets
The bathtubs segment is outlined to hold a noteworthy share of 21% in the market. The rising popularity of concept bathrooms across the world to improve the look of bathroom space is proposed to reinforce the market segment trends. According to a survey in 2023, over 30% of homeowners modernized bathroom technology with renovations and about 75% of tenants cited the need for renovations to improve visual appearance and functionality. Luxurious bathtubs are in the craze nowadays owing to the amplifying disposable income that is determined to gain traction in the market segment growth.
Ceramic Sanitary Ware, Segmentation by Application
The commercial segment of the ceramic sanitary ware market is expected to garner a significant share in the coming years. The rapid urbanization across the globe is impelled by the rise of commercial constructions which is assessed to intensify the market segment size. The expansion of the market segment is credited to the aggregating number of hospitality creations such as movie theaters, hotels, resorts, lodges, restaurants, suites, and bars. As per 2023 data, there are over 750,000 restaurants in the United States and more than 10,000 new restaurants are launched.
A few of the well-known industry leaders in ceramic sanitary ware market that are profiled by Research Nester are Roca Sanitario, S.A.U., Kohler Co., TOTO LTD, Geberit International AG, LIXIL Corporation, RAK Ceramics PJSC, Villeroy & Boch AG, Grohe AG, DURAVIT Aktiengesellschaft, Hansgrohe Deutschland Veryriebs Gmb, and others.
Recent Development in the Market
- Roca Sanitario, S.A.U. brought an electric tunnel kiln developed after four years of progress by German kiln manufacturers for the production of sanitary ware, ceramics, or tableware. The electric kiln is the best alternative to the conventional kilns which use fossil fuels. The company chose the electric funnel kiln to achieve its decarbonization strategy with enhanced efficiency and automation technology.
- Kohler Co. developed new products in the market with touchless technology which includes a touchless bathroom faucet, a kumin touchless soap dispenser, a touchless kitchen faucet, and a modernlife touchless toilet.
Read our insightful Blogs and Data-driven Case Studies:
- Nanocellulose Industry Trends
Explore the attributes and exciting prospects of Nanocellulose. Uncover how Nanocellulose has the power to transform sectors ranging from packaging to the biomedical engineering. Go through the blog for further insights.
- How an Indian Specialty Chemical Startup navigated the Environmental, Social, and Regulatory obstacles to work its way up the Success Ladder?
Our product portfolio analysis for an Indian Specialty Chemical Startup considering the regulatory norms of Indian government. This case study discusses how RNPL’s Bio-Based Platform Chemicals Market Analysis helped company to overcome its obstacles.
About Research Nester
Research Nester is a one-stop service provider with a client base in more than 50 countries, leading in strategic market research and consulting with an unbiased and unparalleled approach towards helping global industrial players, conglomerates and executives for their future investment while avoiding forthcoming uncertainties. With an out-of-the-box mindset to produce statistical and analytical market research reports, we provide strategic consulting so that our clients can make wise business decisions with clarity while strategizing and planning for their forthcoming needs and succeed in achieving their future endeavors. We believe every business can expand to its new horizon, provided a right guidance at a right time is available through strategic minds.
CONTACT: AJ Daniel Corporate Sales, USA Research Nester Email: [email protected] USA Phone: +1 646 586 9123 Europe Phone: +44 203 608 5919
Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. AfternoonHeadlines.com takes no editorial responsibility for the same.