South Asia is expected to be the most remunerative market in the ceramic sanitary ware market, followed by North America . Commercial Segment to Contribute Maximum Revenue Share in Ceramic Sanitary Ware Market. Indian ceramic sanitary ware market is expected to grow at a CAGR of 7.8% during the forecast period 2022-2032.
NEWARK, Del. , Sept. 15, 2022 /PRNewswire/ -- The global ceramic sanitary ware market is projected to exhibit lucrative growth opportunities over the estimation period by exhibiting a CAGR of 5.3% from 2022 to 2032. The market is predicted to be valued at US$ 33,170.0 Mn in 2021 and is anticipated to reach US$ 58,929.8 Mn by 2032.
As per the historical analysis between 2014 to 2021, the sales of the ceramic sanitary ware market increased at a CAGR of 6.2% in 2014 and 2021, owing to the rising applications accounting for a reasonable portion of the global market.
The rising preference for sanitization and hygiene across the world is expected to fuel sales in the ceramic sanitary ware market. Prevailing government initiatives are helping in promoting sanitization, especially in developing countries is one of the key factors driving the ceramic sanitary ware market. Backed by these factors, the global ceramic sanitary ware market is expected to reach US$ 35,160.2 Mn in 2022.
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Owing to the numerous benefits of ceramic material it has been excessively used in the construction sector due to its excellent chemical and scratch resistance and cost-effectiveness is expected to drive the demand. In addition to that, a shift in preferences toward luxury items with aesthetic appearance will further boost the ceramic sanitary ware market.
In addition to that, the rising demand for building and construction sectors is escalating the demand for residential real estate, which is predicted to propel the expansion of the global ceramic sanitary ware market in the forthcoming years.
Ceramic sanitary ware consists of components and fixtures that are utilized for sanitization. It comprises a wide array of products such as water closets, wash basins, bathtubs, and faucets. Starch and chemical resistance are the key characteristics of ceramic sanitary ware products which come with cost-effectiveness and ease of maintenance.
There are several benefits of ceramic sanitary ware, one of which is its low cost. Another benefit is that they are more rigid than traditional structure metals and also provide an excellent return on investment due to the longevity of ceramic sanitary ware. In addition to that, they also have an exceptionally high melting point and are highly resistant to corrosion. Backed by these factors, the ceramic sanitary ware market is expected to drive growth over the projection period.
Moreover, rapid commercialization and rising government infrastructure spending are anticipated to have a significant influence on the ceramic sanitary ware market over the forecast period. Furthermore, the increasing number of promotional programs launched by the public and private sectors in order to raise awareness about the utilization of sanitary products is expected to drive growth in the market.
On the back of these benefits, the demand for ceramic sanitary welfare market has propelled immensely and is expected to reach US$ 35,160.2 Mn by 2022, increasing at 1.7x over the forecast period (2022-2032).
To meet the ever-rising demand for ceramic sanitary ware, manufacturers are inclining their focus on emerging markets in recent years. Various key players are concerned about improving their manufacturing capabilities, R&D investments, mergers and acquisitions, and production capacity expansion.
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The key market players are focused on strengthening their sales channels in order to make ends meet. Prominent market manufacturers are also launching novel and innovative products to maintain and expand their market share. Key Players - Geberit Group, Kohler Co., LIXIL Group Corporation, TOTO Ltd., Roca Sanitario SA, Villeroy & Boch AG, RAK Ceramics, Duravit AG, Duratex SA, HSIL, SOMANY CERAMICS Limited, Eros Sanitaryware, Jaquar Group, Foster + Partners, Cersanit SA, Kajaria Ceramics Limited
More Insights into the Ceramic Sanitary Ware Market
India is expected to hold a sizable portion of the global market to become a prominent market in South Asia & Pacific over the forecast period as a result of ongoing investment and development there. The rising popularity of 'concept bathroom' along with 'coordinated sanitary ware' is surging demand for ceramic ware in India .
Several government initiatives are rapidly being implemented in India which is helping is raising awareness. One such awareness programs are Swachh Bharat Abhiyan (2019), these factors are projected to grow the ceramic sanitary ware market at a CAGR of 7.8% during the forecast period.
In countries like East Asia and China , the ceramic sanitary ware market is expected to grow at a substantial rate owing to increasing construction and infrastructure projects. China is expected to maintain its top position in the East Asian market during the projected period. The Chinese market is expected to register a growth of 7.1% CAGR throughout the assessment period.
Ceramic Sanitary Ware Market by Category
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3. Key Trends & Success Factor
3.1. Key Trends Impacting the market
4. Global Ceramic Sanitary Ware Market Demand Analysis 2014 – 2021 and Forecast, 2022 – 2032
4.1. Historical Market Volume (Units) Analysis, 2014 – 2021
4.2. Current and Future Market Volume (Units) Projections, 2022 – 2032
5. Global Ceramic Sanitary Ware Market - Pricing Analysis
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