Vitrified Tiles: Elegant Reflections Discovering the Beauty in Construction Industry | Says AMR
Vitrified Tiles Market Expected to Reach $757.0 Billion by 2030
PORTLAND, OR, UNITED STATES, June 1, 2023/EINPresswire.com/ — Rise in urbanization & industrialization in developing countries, surge in expenditure on home remodeling, and developments in the construction sector drive the growth of the global vitrified tiles market. On the other hand, volatile raw material prices and popularity of natural stones for flooring impede the growth to some extent. However, Implementation of advanced digital printing is expected to create lucrative opportunities in the industry.
Vitrified tiles can be used as an alternative to marble and granite floors. They are used as outdoor floors since they are water and stain resistant. Tiles are manufactured from clay, quarts, feldspar, and silica and they are made by a hydraulic press, which produces tile with a smooth and attractive surface. The increased demand for residential and non-residential constructions has had a significant impact on the market for vitrified tiles, which are used in the floors and walls of the buildings. Vitrified tiles are a popular alternative to marble and granite for flooring. As a result, growing wages as a result of economic development, as well as increasing population and urbanization, have increased demand for construction in a variety of locales.
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The global vitrified tiles market size was valued at $448.6 billion in 2020, and is projected to reach $757.0 billion by 2030, registering a CAGR of 5.0% from 2021 to 2030.
COVID-19 scenario-
• Extended lockdown measures across the world and delay in production and manufacturing of vitrified tiles impacted the global vitrified tiles market negatively.
• However, as the global situation is getting ameliorated at a slow & steady pace, the market is anticipated to revive soon.
The global vitrified tiles market is analyzed across product type, distribution channel, application, end user, and geography. By product type, the glazed vitrified tiles segment contributed to the major share in 2020, accounting for nearly two-fifths of the global vitrified tiles market, and is expected to lead the trail during the forecast period. The same segment is also anticipated to cite the fastest CAGR of 6.0% from 2021 to 2030.
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Leading Players:
The key market players analyzed in the global vitrified tiles market report include Altaeco S.p.A, Aparna Enterprises Ltd, Asian Granito India Limited, SCG Ceramics, ABK Group, Casalgrande Padana spa, Ceramica Del Conca spa, Lamosa Group, Mohawk Industries, Inc., Kajaria Ceramics Limited. These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.
By distribution channel, the offline segment held the highest market share in 2020, holding more than half of the global market. The online segment, however, is projected to manifest the fastest CAGR of 5.6% from 2021 to 2030.
By region, Asia-Pacific held the highest market share in terms of revenue 2020, garnering more than half of the global vitrified tiles market. The same region is also expected to showcase the fastest CAGR of 5.7% throughout the forecast period. The other provinces discussed in the report include North America, Europe and LAMEA.
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