Global Porcelain Tiles Market 2018-2022
About Porcelain Tiles
Porcelain tile is a type of ceramic tile which is strong and has low water absorption rate. It is mostly used for floor, wall, roofing, and kitchen top applications.
Technavio’s analysts forecast the global porcelain tiles market to grow at a CAGR of 9.47% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global porcelain tiles market for 2018-2022. This market research report offers a comprehensive analysis of the market segmentation by product (porcelain floor tiles, porcelain wall tiles, and others).
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Porcelain Tiles Market 2018-2022
Technavio recognizes the following companies as the key players in the global porcelain tiles market: China Ceramics, Grespania, Mohawk Industries, Norcros, and PORCELANOSA Grupo.
Commenting on the report, an analyst from Technavio’s team said: “There is an increasing demand for 3D porcelain tiles and geometric tiles from interior designers and buyers. Manufacturers have started producing porcelain tiles of various shapes such as hexagonal tiles due to their increasing demand. Thus, the introduction of 3-D porcelain tiles and geometric tiles is identified as a key trend driving market growth.”
According to the report, one of the major drivers for this market is the low cost of porcelain tiles. The installation cost off these tiles are also lower than natural stone, hardwood, and broadloom carpets. Moreover, the low water absorption rates of porcelain tiles make them suitable for bathrooms, kitchens and outdoor areas, leading to its increased adoption and growth of the market.
Further, the report states that one of the major factors hindering the growth of this market is the shortage of skilled labor which have resulted in high labor costs. The construction industry in the US faced a shortage of 500,000 workers in 2018. Vendors have to pay high wages to retain the workforce, which in turn hampers the growth of the porcelain tiles market.
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