Market Research Future (MRFR), the Tile industry trends Size value is registered as USD 2.2 billion and is expected to exhibit the tile industry trends size of USD 3.8 billion with a lucrative CAGR of 6.8% during the forecast period 2021-2028. (Evaluation period). We will provide COVID-19 impact analysis with the report, offering detailed market developments following the coronavirus disease outbreak.
Growth Enhancers and Top Barriers
In the construction industry, tiling has become quite integral, especially given the increasing commercial and residential construction activities across the world. Tiling has significant applications in residential as well as commercial infrastructure such as hotels, hospitals. Tiling and therefore tiling grouts have become extremely prevalent across transportation infrastructure like railway stations and airports. Tiles along with rugs and carpets, laminates and wood has become a highly essential component in the construction industry worldwide, which can mean favorable growth prospects for the tile industry trends.
The escalating number of residential projects, in light of the expanding global population along with the rapidly expanding hospitality and tourism industry present lucrative opportunities to the renowned market firms around the world. Numerous emerging economies such as India and China are focusing extensively on catering to the rising employment demand as well as the accelerated demand for more affordable homes, as urbanization rate is soaring every year. In a nutshell, the promising boost in the number of housing construction projects can lead the tile industry trends to greater heights between 2019 and 2025.
It is anticipated that out of all the types of tile grouts, epoxy grout has gained maximum impetus in the worldwide market. This trend will remain prevalent throughout the evaluation period, as epoxy tile grounds are known for their superior strength as well as high chemical resistance, rendering it highly versatile and ideal for a number of special applications. Moreover, as in the case of other types of grouts that require frequent cleaning, the epoxy resins’ non-porous property prevents collection of grime, moisture or dirt, which is another property that adds to its appeal among the end-users. Although epoxy tile grout can be quite challenging in terms of installation, it still remains ahead of other segments due to extended longevity with better cleaning techniques.
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The global grout tile industry has been segmented based on type and application.
The types of tile grout can be finely sanded grout, unsanded grout, epoxy grout and quarry-type grout. As mentioned above, the highest growth was observed by the epoxy grout segment in 2018, and is also expected to procure the fastest expansion rate owing to its various applications along with benefits including high durability and strength.
Depending on the application, the market segments considered in the study are commercial, industrial and residential. Since 2018, the leading segment has been residential, while it is also projected to record the highest growth rate in the coming years. The high prominence of the residential segment in the tile industry trends can be due to the fast expanding worldwide population, increasing government spending on housing projects and the resultant surge in the number of home owners, rising urbanization rate and the rapidly growing economic status of emerging regions. All these factors have led to a high need for tile grout across the residential sector across the globe.
The tile industry trends growth is expected to be apparent across a few primary regions, namely Europe, South America, APAC/Asia Pacific, MEA/the Middle East & Africa as well as North America.
Since the year 2018, the APAC has remained the biggest gainer in the global market, with North America and Europe right behind. The growing construction sector in APAC along with the extensive presence of renowned manufacturers across China and India has resulted in a positive market outlook for tile grouts. Renowned firms are presented with lucrative opportunities as the region is observing a surge in commercial building construction, including offices and business complexes in light of the rising number of corporates. This can mean more success for the tile industry trends in the region. The fast urbanization rate in India, China, and various emerging countries in the region also contributes to the market attractiveness.
Leading Industry Competitors
The leading competitors actively seeking a better position in the tile industry trends are Krishna Colours and Constchem PVT LTD (India), Building Adhesives Ltd (UK), MAPEI S.p.A (Italy), FLEXTILE LTD. (Canada), LATICRETE International Inc (US), ARDEX UK (UK), Craft (India), Bostik USA (US), ParexGroup (Bangkok), Sika AG (Switzerland), to name a few.
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