Indian Ceramic Tiles Market to Reach $7.14 Billion by 2027
According to the report published by Allied Market Research, the India ceramic tiles market generated $3.72 billion in 2019, and is estimated to reach $7.14 billion by 2027, registering a CAGR of 8.6% from 2020 to 2027. Growth of the construction industry and increase in urbanization drive the growth of the India ceramic tiles market. However, high goods and services tax charges and popularity of natural stones for flooring hinder the market growth. On the other hand, technological advancements in tile manufacturing machines and innovations in tile printing technologies such as 3D printing & digital printing create new opportunities in the coming years. Based on type, the ceramic segment accounted for the largest share in 2019, holding nearly half of the total share, and is expected to maintain the largest share throughout the forecast period. However, the vitrified segment is estimated to portray the highest CAGR of 9.2% during the forecast period. Based on application, the wall tiles segment contributed to the largest share in 2019, accounting for around three-fifths of the total share, and is estimated to maintain its dominant position during the forecast period. However, the floor tiles segment is expected to register the highest CAGR of 9.2% from 2020 to 2027. Based on end user, the residential segment contributed the highest share, accounting for more than four-fifths of the total market share in 2019, and will maintain its dominance throughout the forecast period. Moreover, the same segment is expected to grow at the highest CAGR of 9.0% from 2020 to 2027. Leading market players analyzed in the research include Kajaria, Prism Johnson, Somany, RAK Ceramics, Asian Granito, Varmora, Simpolo, Nitco Tiles, Orient Bell Ceramics, and Sun Heart.
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