Ceramic Sanitary Ware Market With Complete SWOT Analysis by Forecast by 2028 |
The global ceramic sanitary ware market size is anticipated to hit USD 74.52 billion by 2028 and exhibit a CAGR of 7.4% during the forecast period. The increasing construction activities due to rising urbanization, industrialization, and the growing trend of smart homes is projected to boost the market growth. Fortune Business InsightsTMhas presented this information in its report titled, “Ceramic Sanitary Ware Market, 2021-2028”. The market size stood at USD 44.17 billion in 2020 and USD 45.24 billion in 2021.
Additionally, the growing trend of adopting ceramic water closets across urban and rural areas is anticipated to uptick the market growth in the forthcoming years.
The construction sector took a major hit from the coronavirus pandemic. Halted construction activities and labor shortages due to strict curfews and lockdowns resulted in delayed projects and diminished revenues. This consequently reduced the demand for ceramic sanitary ware. Furthermore, the closure of manufacturing plants of ceramic sanitary ware hampered the market growth. However, the market is gaining significant traction due to the efficacious vaccination drives. The market is projected to prosper in the forthcoming years.
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On the basis of product type, the market is segmented into urinals, wash basin, water closets, and others. On the basis of end-use, the market is trifurcated into renovation, commercial, and residential. Geographically, the market is classified into Latin America, Europe, Asia Pacific, North America, and the Middle East & Africa.
- It provides a comprehensive market assessment.
- It assimilates key market drivers and restraints.
- It profiles the rankings of key market players accordingly.
- It includes key market developments and information on different market segments.
- It assesses the COVID-19 pandemic’s impact on the market.
Drivers & Restraints-
Escalating Construction Activities to Propel Market Growth
The swift infrastructure development, soaring urbanization, and the rising trend of smart homes fuel the global ceramic sanitary ware market growth. The growing consumer demand for restaurants, schools, offices, shopping malls, and others is expected to further expand the market growth. Moreover, the growing construction project investments by citizens, favorable government policies, and improving consumer disposable income levels are likely to complement the market growth.
Many developing and underdeveloped countries demand toilet sinks or ceramic sanitary ware as they are the most basic. The rising government initiatives to provide basic sanitation access across developing and underdeveloped counties are expected to boost ceramic water closet adoption and thereby stimulate market growth.
However, the high costs of ceramic sanitary ware may hinder the market’s growth.
Asia Pacific to Hold Lion’s Share Due to Growing Technological Developments
Asia Pacific is projected to attain the largest ceramic sanitary ware market share. The growing technological developments in ceramics to augment their sustainability are expected to bolster market growth. China is anticipated to lead the region’s market and witness the fastest growth due to rising government initiatives in hygiene and sanitation. Additionally, the swift infrastructure developments and soaring R&D activities are anticipated to favor the region’s market growth.
Europe is anticipated to witness high growth due to expanding commercial sector and renovation activities.
North America is estimated to gain robust growth due to the growing residential sector. The U.S. is likely to lead the region’s market growth.
Latin America and the Middle East & Africa are likely to exhibit considerable growth due to improving income levels, growing urbanization, favorable government initiatives, and expanding construction and healthcare industries.
Major Market Players Emphasize Acquisitions and Other Strategies to Garner Growth
The market comprises several key players operating internationally and domestically. Amongst these, Kohler Co., Geberit, LIXIL Group Corporation, and TOTO Ltd. are the major market players. The key market players emphasize production capacity improvements, collaborations, acquisitions, and product innovations to amplify their market presence. For instance, In June 2021, Roca Group completed the acquisition of Sanit, a concealed cisterns and built-in installation sanitary ware systems producer based in Germany. This acquisition is aimed to solidify Roca Group’s presence in Europe.
List of Key Market Players-
- Geberit Group (Switzerland)
- Kohler Co. (U.S.)
- TOTO Ltd. (Japan)
- LIXIL Group Corporation (Japan)
- Roca Sanitario SA (Spain)
- Villeroy & Boch AG (Germany)
- RAK Ceramics (UAE)
- Duravit AG (Germany)
- Duratex SA (Brazil)
- HSIL (India)
- Orient Ceramics (India)
- Golf Ceramics Ltd. (India)
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