Market Size of South Korea Ceramic Sanitaryware Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 3.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South Korea Ceramic Sanitaryware Market Analysis
The South Korea ceramic sanitaryware market is expected to register a CAGR of more than 3% during the forecast period. Due to the COVID-19 pandemic in 2019-2020, the market for sanitary ware products observed a decline in South Korea. With the pandemic's continued impact, South Korea's production level of ceramic sanitaryware declined.
Ceramic sanitary ware includes fixtures and components such as wash basins, closets, sinks, and bathtub components, which consist of washbasins bathtubs. With the increasing population and construction, the demand for ceramic sanitary ware is also increasing.
South Korea is expected to observe a continuous increase in its GDP, from USD 1,798.5 billion in 2021 to USD 2,300.2 billion in 2027. This GDP increase is expected to increase the income levels of people and encourage them to spend on products like ceramic sanitary ware and other items. This increased spending may boost the ceramic sanitaryware market and demand in South Korea.
