Asia Pacific Sanitary Ware Market Forecast 2019-2028
The Asia Pacific sanitary ware market is projected to record a CAGR of 4.78% in terms of volume during the forecast period, 2019-2028. In terms of revenue, the market is anticipated to register a CAGR of 5.38%. The rising disposable incomes, growing construction activities, and increasing concerns over personal hygiene, are among the dominant factors propelling the market growth.
The Asia Pacific sanitary ware market growth is assessed based on the evaluation of Japan, Indonesia, Malaysia, Thailand, Vietnam, India, China, Bangladesh, and the rest of Asia Pacific. The housing sector in Japan is set to grow moderately due to increased investments. The rising household expenditure has fueled the demand for remodeling of houses. The investments in public & private infrastructure, and commercial projects, are expected to enhance consumer and investor confidence. There is also a strong wave of inbound tourism in Japan. The proximity to emerging markets like China, makes it a potential market. The demand from tourism sectors, and the subsequent expansions of hotels, cities, and areas of natural beauty, are set to fuel the market growth of sanitary ware in the country.
India boasts of a varied ceramic industry that has several products like ceramic tiles, refractories, advanced ceramics, and advanced ceramics. The ceramic products manufactured are of different sizes, types, and standards, according to consumer requirements. There is a significant growth of ceramic washbasins in the country. Government initiatives like Swachh Bharat Abhiyan (SBA) have resulted in increased construction of toilets across India. This has resulted in an increased need for washbasins, thereby driving the installation of ceramic washbasins. Such factors propel market growth in India.
Some of the well-known companies in the market are HSIL Limited, Jaquar Group, Kohler Co, Toto Ltd, Elkay Manufacturing Company, etc.
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