Global Glass Tiles Market - Segmented by Manufacturing Process, Application Product, End-user Industry, and Region - Growth, Trends, and Forecast (2018 - 2023)
The global glass tiles market is expected grow at a significant rate during the forecast period, majorly driven by rapid growth in the construction industry. Glass is a unique material used in building and construction. It is said to be one of the oldest and most versatile materials in the building industry. Glass tiles provide numerous benefits, making them ideal for residential and commercial purposes. They not only provide aesthetic appeal but are also durable.
Rapid Growth in the Construction Industry Driving the Market
Emerging economies, such as China, India, Indonesia, Vietnam, and the Philippines, in the Asia-Pacific region have been witnessing strong growth in construction activities. Robust economic performance in 2017 is expected to further accelerate the growth in housing construction activities in the region. Middle Eastern countries, such as UAE, Saudi Arabia, Qatar, and Kuwait, backed by their regional government-led initiatives, are driving growth in the GCC construction sector; this is due to the constant emphasis on improving their social infrastructure. As of May 2017, the value of construction projects (planned or underway) in the GCC increased, compared to 2016, amounting to USD 2 trillion. Saudi Arabia and UAE lead the market with respect to the number of construction projects.
Matte-finished Glass Tiles to Dominate the Market
Matte-finished tiles are those with a soft, muted hue, creating a calm, and soothing space. The matte layer provides an etched surface to an otherwise smooth and slippery material, making it slip-resistant. This quality makes it suitable for use in flooring. With increasing residential projects and high living standards in developing economies, the segment is expected to gain momentum in the coming years. Moreover, the ongoing growth of commercial construction in North America and Western Europe are expected to further augment the growth of this segment.
India to Dominate the Glass Tiles Market
Infrastructure sector is an important pillar for the growth of the Indian economy. The government is taking various initiatives to ensure time-bound creation of excellent infrastructure in the country. The government has announced a target of USD 376.5 billion investment in infrastructure over a period of three years, including USD 120.5 billion for developing 27 industrial clusters and USD 75.3 billion for road, railway, and port connectivity projects. The construction of new railway and metro stations is also growing rapidly, which, in turn, is contributing to the demand for glass tiles in the country.
January 2017: SGG COOL-LITE XTREME 50/22 II was launched, which is high-performance solar control glass with the unique positioning of being the most selective triple silver product.
Major Players: Marazi, Villi, Saint Gobain, and Arizona Tiles, amongst others.
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