|Study Period:||2017- 2026|
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India is one of the fastest-growing ceramic tile marketplaces at the global level. Some of the major factors augmenting the growth of the ceramic tiles demand in India are the growing real estate sector coupled with government policies fueling strong growth in the housing sector. In addition, rising disposable income in India and a corresponding desire for beautification of living and working spaces are also driving the need for ceramic tiles in the country. Demand for products like the new touchless and other hygiene-centric products in bath ware and the germ-free tiles will take center stage and will see traction in the forecast period. The government schemes such as ‘Pradhan Mantri Awas Yojana’ and ‘Smart Cities, among others, are likely to provide a further impetus to the real estate market in India.
The real estate sector has benefitted from Real Estate Regulatory Authority, which was implemented on May 01st, 2017. RERA makes the real estate sector more transparent, and process-driven. RERA has a direct implication on the ceramic sector as well. During the forecast period, a surge in remodeling activities is expected to enhance product demand in the Indian ceramic tiles market's residential segment. Consumers are spending a lot of money to improve the appearance of their walls and floors, which will be a major element driving product demand in the residential market in the coming years.
The ceramic tiles market has been showing steady growth over the last few years in India. However, the sector was hit badly amid the COVID-19 pandemic as India’s GDP fell drastically in 2020, and furthermore, the Indian economy contracted by 7.3% in the April-June quarter of 2021. In March 2020, after the national lockdown was imposed in India amid the COVID-19 outbreak, an estimated 10 million migrant workers migrated back to their respective native lands. Thus, due to a shortage of labor, the timely completion of projects has become one of the major challenges for ceramic tile manufacturers amid the pandemic. However, once the lockdown started to reverse back, the tile industry was first to emerge out of the crisis stronger than ever, and the recovery in demand in the ceramic tile industry in India is expected to thrive exponentially post-COVID.
Scope of the Report
A complete background analysis of the market, including the analysis of market size and forecast, market shares, industry trends, growth drivers, and vendors, is provided. Additionally, the report features qualitative and quantitative assessments by analyzing the data gathered from industry analysts and market participants across key points in the industry’s value chain. The Market is Segmented by product, application, construction, and end-user. By Product, the market is segmented into Glazed, Porcelain, Scratch-free, and Other Products. By Application, the market is segmented into Floor Tiles, Wall Tiles, and Other Applications. By Construction, the market is segmented into New Construction and Replacement and Renovation. By End User, the market is segmented into Residential and Commercial. The report offers the market sizes and forecasts in value for the above segments.
|Replacement and Renovation|
Key Market Trends
Growing Urbanization is Driving the Market
India is urbanizing rapidly with the urban share of the population being around 35% by 2020. Furthermore, it is expected to touch 40% by 2030, amounting to approximately 600 million urban inhabitants. The urbanization in India is mainly due to the expansion of cities and the migration of people. Investments are made in housing, road network, urban transport, water supply, power-related infrastructures, smart cities, and other forms of urban management. Urbanization boosts the demand for residential and commercial construction markets in the country, which has fueled rapid growth for the Indian ceramic tiles market. India is witnessing an absolute growth in the urban population, owing to growing income levels of the middle-class and stable democracy. Moreover, people are migrating to the urban area every year in India, which is expected to form new cities with more population.
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Rising Investments in Real Estate in India is Driving the Market
Despite the economic meltdown, investment in the real estate sector has always been regarded as profitable, yielding positive results over time. The Foreign portfolio investment in the Indian real estate sector was valued at USD 497 million in March 2021. The Godrej Group has forayed into the financial services industry in 2020 with Godrej Housing Finance (GHF), through which it hopes to build a long-term and sustainable retail financial service business in India. Blackstone is one of the largest private market investors in India, holding about USD 50 billion of the market value in the real estate sector as of 2021. These Increasing investments have created higher housing demand in India ad increasing housing demand accounts for 70% of the total demand for tiles in India.
The report covers major international players operating in the Indian ceramic tiles market. In terms of market share, few of the major players currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping new markets.
- RAK has ambitious plans to make India its important export hub going forward. Export of ceramic tiles from India has increased fivefold over the same period of time since 2018. In 2018, India stood among the top 70 exporters. This trend continued in 2019, with a further 21% growth in Indian exports in the first quarter. In 2020, India’s manufacturing operations were hindered by the volatility in the price of natural gas, which accounts for between 15% and 30% of production costs and ever-higher transportation costs.
- About 60 new plants with CAPEX of INR 5,000 crore are expected to be up and running by December 2021, as the demand for exports has risen to 35-40% currently, up from 20-25% pre-COVID.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS AND DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints/Challenges
4.4 Market Opportunities
4.5 Industry Supply Chain/Value Chain Analysis
4.6 Porter's Five Forces Analysis
4.7 Insights on Recent Developments on the Market
4.8 Insights on Technological Trends in the Market
4.9 Impact of COVID-19 on the Market (Post and Pre-COVID)
5. MARKET SEGMENTATION
5.1.3 Scratch Free
5.1.4 Other Products
5.2.1 Floor Tiles
5.2.2 Wall Tiles
5.2.3 Other Applications
5.3 Construction Type
5.3.1 New Construction
5.3.2 Replacement and Renovation
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Asian Granito India Limited
6.2.2 Kajaria Ceramics Limited
6.2.3 Nitco Limited
6.2.4 Orient Bell Limited
6.2.5 Varmora Granito Private Limited
6.2.6 RAK Ceramics
6.2.7 Somany Ceramics Limited
6.2.8 Murudeshwar Ceramics Limited
6.2.9 H & R Johnson (India) Limited (Prism Johnson)
6.2.10 Simpolo Vitrified Private Limited*
7. FUTURE OF THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The India Ceramic Tiles Market market is studied from 2017 - 2026.
What is the growth rate of India Ceramic Tiles Market?
The India Ceramic Tiles Market is growing at a CAGR of >6% over the next 5 years.
Who are the key players in India Ceramic Tiles Market?
Asian Granito India Ltd, H & R Johnson (India) Limited, Kajaria Ceramics Limited, Somany Ceramics Limited, RAK Ceramics are the major companies operating in India Ceramic Tiles Market.