Fort Collins, Colorado, April 19, 2024 (GLOBE NEWSWIRE) --
Surging demand in residential and commercial construction sectors drives the industry growth.
The decorative tiles market is expanding significantly, primarily propelled by surging demand in residential and commercial construction sectors. Increasing disposable incomes and evolving lifestyle preferences have heightened the focus on aesthetic appeal and durability in home décor, driving the demand for decorative tiles. Furthermore, the growing trend of home renovations and remodeling projects has created a sizable market for replacement tiles, contributing to the overall market growth.
Technological advancements and product innovations play a pivotal role in propelling the decorative tiles market forward. Manufacturers invest in research and development to produce tiles with enhanced durability, minimal maintenance requirements, and improved aesthetic appeal. For instance, the advent of digital printing technology allows for creating high-resolution designs and patterns on tiles, offering consumers a broader range of design options. Additionally, developing eco-friendly and sustainable tiles, including those crafted from recycled materials or with low VOC emissions, has gained momentum due to increasing consumer awareness and stringent government regulations promoting green building practices.
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Segmentation Overview:
The decorative tiles market has been segmented into type, distribution channel, application, end-user, and region.
Ceramic wall tiles accounted for a significant share in 2023.
- Based on type, the market is segmented into ceramic wall tiles, vinyl wall tiles, stone wall tiles, and others. Ceramic wall tiles hold a substantial share of the type segment of the decorative tiles market. Ceramic tiles have been a popular choice for wall decoration due to their durability, easy maintenance, and wide range of designs and colors available. They are also relatively affordable compared to other options, making them accessible in a broader market. Additionally, advancements in digital printing technology have allowed for more intricate and realistic designs on ceramic tiles, further enhancing their appeal.
The residential application segment registered significant growth in 2023.
- Based on the end-user, the market segmentation includes residential and commercial. The residential application of decorative tiles holds a substantial share of the end-user segment of this market. The residential sector has consistently driven demand for decorative tiles as homeowners increasingly invest in renovations, remodeling projects, and new construction.
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Decorative Tiles Market Report Highlights:
- The decorative tiles market growth is anticipated at a CAGR of 4.7% by 2032.
- Growth in commercial construction drives the demand for the decorative tiles industry.
- The Asia-Pacific region is set to play a pivotal role in the global decorative tiles market and is expected to secure a substantial market share shortly. This is attributed to the region's rapid urbanization, increasing disposable income, and a surge in construction activities, particularly in China and India.
- Some prominent players in the decorative tiles market report include RAK Ceramics, Mohawk Industries, Kajaria Ceramics, Grupo Lamosa, Porcelanosa Grupo, Gruppo Cerdisa Ricchetti, Ceramica Saloni, Crossville Inc., Florim Ceramiche, Iris Ceramica, Pamesa Cerámica, Altaeco S.p.a, and others.
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