Ceramic Sanitary Ware Market to Expand at a CAGR of ~6% Assessment for the Driving Factors, Size, Revenue, Segments, Expansion, Demand, and Opportunities During 2024-2036

in ceramic •  3 months ago 

Global Ceramic Sanitary Ware Market Key Insights
During the forecast period of 2024-2036, the global ceramic sanitary ware market is expected to reach an estimated value of ~USD 60 billion by 2036, by expanding at a CAGR of ~6%. The market further generated a revenue of ~USD 50 billion in the year 2022. Major key factors propelling the growth of the ceramic sanitary ware market worldwide are the rising adoption of ceramic sanitary ware and the high demand for residential construction globally.
Market Definition of Ceramic Sanitary Ware
Plumbing fittings including faucets, lavatories, and washbasins that are built of ceramic materials or enameled metals are known as ceramic sanitary wares. Consumers nowadays are becoming more interested in premium home fittings, which is leading to the development of innovative and smart-designed ceramic sanitary wares. The body of ceramic sanitary ware is covered in a glaze and heated to a high temperature (about 1280 °C) before being baked in a kiln. Due to the high level of toughness produced by this, the material is durable and can be used in common areas.
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Gobal Ceramic Sanitary Ware Market: Growth Drivers
The growth of the global ceramic sanitary ware market can majorly be attributed to the increasing production of ceramic sanitary ware, backed by the rising need for the ceramic sanitary ware in the public and residential premises. For instance, the European ceramic sanitary market growing at a significant rate by selling and exporting more products, the market generated a profit of USD 2 billion in 2020 and it is expected to rise further during the forecast period. In addition to this, the rising urbanization and increasing living standard among people which is anticipated to make them spend more on classified and premium home fitting including ceramic sanitary wares are predicted to boost the market growth. For instance, in North America, the bathroom accessory market generated around USD 4 billion in revenue in 2019, and by 2025, it is projected to reach USD 6 billion USD.
The global ceramic sanitary ware market is also estimated to grow majorly on account of the following:
• Burgeoning Population Across the World
• High Demand of Residential Construction
• Rapid Development in Real Estate Sector
• Development of Commercial Buildings Worldwide
Global Ceramic Sanitary Ware Market: Restraining Factor
The adoption of premium ceramic sanitary ware products in developing and under-developing regions is less and people have law inclination towards spending more on premium fittings. Hence, these factors are expected to be the major hindrance for the growth of the global ceramic sanitary ware market during the forecast period.
Global Ceramic Sanitary Ware Market Segmentation
• By Application (Residential, and Commercial)
Out of these, the residential segment is predicted to gain the largest revenue by the end of 2033. The growth of the segment can be attributed to the large presence of residential properties across the globe. According to projections, there were close to 100 million single-family dwellings in the United States in 2020 and during the same time span, there were also about 5 million multifamily residential buildings. Further, the residential segment is forecasted to gather the highest revenue on the back of the increasing demand for houses by the burgeoning population.
• By Distribution Channel (Online, and Offline)
• By Technology (Slip Casting, Spagless, Jiggering, Pressure Casting, Isostatic Casting, and Others)
• By Product Type (Faucets, Water Closets, Bathtubs, Bidets, Washbasins & Kitchen Sinks, Urinals, and Others)
• By Region
The Asia Pacific ceramic sanitary ware market is estimated to gather the maximum market share by the end of 2033 among the market in all the other regions. Rapid expansion of the construction industry and the presence of leading market players in the region are some of the major factors predicted to drive the growth of the market during the forecast period. It was noted that the Asia Pacific building construction market is anticipated to reach USD 3 million by 2024. Additionally, the need for non-residential and residential building development is expected to increase owing to the high disposable income of the region's expanding population, which is further projected to fuel the growth of the ceramic sanitary ware market in the region.
The market research report on global ceramic sanitary ware also includes the market size, market revenue, Y-o-Y growth, and key player analysis applicable for the market in North America (U.S., and Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), and Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).
Key Market Players Featured in the Global Ceramic Sanitary Ware Market
Some of the key players of the global ceramic sanitary ware market are Roca Sanitario, S.A, Kohler Co., TOTO LTD., Geberit International AG, LIXIL Corporation, RAK Ceramics PJSC, Villeroy & Boch AG, Grohe AG, DURAVIT Aktiengesellschaft, Hansgrohe Deutschland Vertriebs GmbH, and others.
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