Emergence of New Designs with New Variety of Finishes Will Significantly Augment the Global Ceramic Sanitary Ware Market Until 2020, Says Technavio
According to the latest market research report by Technavio, the global ceramic sanitary ware marketis expected to grow at a CAGR of over 7% until 2020.
In this report, Technavio covers the present scenario and growth prospects of the global ceramic sanitary ware market for 2016-2020. On the basis of type, the market has been segmented into the following:
“To cater to the rising demand for designer sanitary ware, manufacturers focus on developing sanitary ware with varied designs that can blend easily with the design requirement of the bathroom décor and meet the customer requirements. For example, manufacturers such as TOTO offer crystal tech washbasins, which are available in various colors,” said Soumya Mutsuddi, one of Technavio’s lead industry analysts for construction research.
“Apart from color and design, ceramic sanitary ware manufacturers also offer products with self-designed internal fittings, dimensional accuracy, and heavy-duty chrome plating,” added Soumya.
Global ceramic sanitary ware market by geography 2015
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Ceramic sanitary ware market in Americas
The ceramic sanitary ware market in the Americas experienced sales of 89.84 million units in 2015. The ceramic sanitary ware market in the Americas is primarily driven by the growth in the residential construction sector. In addition, construction of new offices, increase in public transportation infrastructure projects, and investments in sports infrastructure during the forecast period are likely to fuel the demand for ceramic sanitary ware.
In 2015, the US and Brazil were the leading regional countries in the ceramic sanitary ware market. The construction sector in the US showed a positive rebound in 2014 after years of slowdown since the recession in 2008. The country has seen an increase in the construction of offices, warehouses, and residential buildings. Improvement in the residential construction sector will generate a further demand for new housing developments and boom the sanitary ware market.
Ceramic sanitary ware market in APAC
The ceramic sanitary ware market in APAC experienced sales of 156.3 million units in 2015. APAC countries are one of the few countries where the construction market is growing in double digits. The region consists of the fastest growing and emerging potential markets such as China, India, Indonesia, Malaysia, and Vietnam. Further, Singapore is one of the leading markets in terms of infrastructure quality. These emerging markets face stiff competition from one another when it comes to the quality of infrastructure. These countries are investing profusely in infrastructural development to maintain their competence with other emerging economies.
As of 2014, China has planned to invest nearly USD 300 billion in the construction of new infrastructure projects by 2020, whereas the government of India has planned to invest USD 1 trillion in infrastructure projects by the end of 2017. This increased investment in the infrastructure sector across emerging economies is driving the demand for sanitary ware, especially ceramic ones as they are durable and affordable. Increasing awareness among the users and manufacturers regarding the advantages of using and installing good-quality sanitary ware is boosting the demand for ceramic sanitary ware.
Ceramic sanitary ware market in EMEA
The cataract devices market in APAC was valued at USD 1.32 billion in 2015. Infrastructure in Europe lasts longer than that in other regions, due to the quality of raw materials used and construction methods adopted. In 2015, European countries such as Finland, the Netherlands, Austria, France, Germany, and Portugal were featured among the top 15 countries in terms of the quality of infrastructure. However, the high-quality infrastructure existing in the region is old and, thus, requires replacement and development. The governments focus more on renovation and expansion of the existing infrastructure rather than the construction of new infrastructure. Therefore, the market growth rate in Europe is lower than that in other regions. The expansion and renovation mainly in the public infrastructure sector such as airports are bound to boost the demand for ceramic sanitary ware during the forecast period.
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