Ceramic Sanitary Ware Market Size Over the next five years will register a 5.6% CAGR in terms of revenue, is projected to reach US$ 30830 million by 2026.
The factors that are expected to drive the growth of global ceramic sanitary ware market are rise in demand for construction and building sectors along with increase in demand for residential real estate. The industry’s growth has been boosted by government measures supporting efforts to improve hygiene and sanitation standards throughout the world. For example; It is anticipated that the U.S. Aid agency will finance and deliver safe sanitation to 8 million people with sustainable access to sanitation services. Moreover, ceramic wares are customizable with variety being available in the form of patterns, structures, textures, and colors.
The growth in disposable income in the countries like India has made people invest more money and resources on their residence which has led to sudden rise in the demand for sanitary ware in the region. Thus, the global ceramic sanitary ware market is expected to rise between the years 2021 – 2026. In addition, in the same period the factors like longer life-span and higher concern for hygiene has led to the growth of the market. Though, prices of sanitary ware can hamper the growth of the market, technological developments and techniques that can produce these products in considerably low cost and time will help the market in gaining the momentum during the forecast period.
Wash basins accounted for a major share of 38% the global ceramic sanitary ware market and In the application of residential ceramic sanitary products occupy 75 percent of the market share.
Top Key players in the Ceramic Sanitary Ware Market have been identified through secondary research, and their market shares have been determined through primary and secondary research. The global Ceramic Sanitary Ware Market is fragmented with a large number of small players operating worldwide. The companies referred in the market research report includes Geberit Group (Switzerland), Kohler Co. (US), TOTO Ltd. (Japan), LIXIL Group Corporation (Japan), Roca Sanitario SA (Spain), Villeroy & Boch AG (Germany), RAK Ceramics (UAE), Duravit AG (Germany), Duratex SA (Brazil), and HSIL (India), Arrow Bathware (China), Masco Corporation(United States), Fortune Brands Home & Security(United States), Huida Group(China), HEGII, JOMOO International and others
Inclination of Emerging Economies towards Luxurious Sanitary Ware
The economy in some of the developing countries is getting stable these days. This means the people now have higher disposable income that can be used for their luxury. Due to these economic development, the people are now able to afford luxurious house with most of the high-end products. The sanitary ware in these houses are also the reflection of their wealth. Looking at the growth of the disposable income, the sanitary ware manufacturers are developing some of the most luxurious products for kitchens and bathrooms. This is the major result that is boosting the growth of global ceramic sanitary ware market.
Ceramic Sanitary Ware Market is segmented based on the type, applications, companies and regions.
Wash basins accounted for a major share of 38% the global ceramic sanitary ware market.
In the application of residential ceramic sanitary products occupy 75 percent of the market share.
In North America, countries such as the US and Canada are showing an increased demand for ceramic sanitary ware products driven by factors such as increasing per capita income of the population and increasing consumer preference for superior interior designs in countries in the region. The North American ceramic sanitary ware market is expected to witness prominent growth over the forecast period as the market is expected to witness increased demand for sanitary products across institutional and commercial sectors coupled with proactive initiatives by the government and the ruling authorities to provide affordable ceramic sanitary ware.
The report offers in-depth assessment of the growth and other aspects of the Ceramic Sanitary Ware Market in important regions, including the U.S., Canada, Germany, France, U.K., Italy, Russia, China, Japan, South Korea, Taiwan, Southeast Asia, Mexico, and Brazil, etc. Key regions covered in the report are North America, Europe, Asia-Pacific and Latin America.
The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2021-2026. The report presents the analysis of Ceramic Sanitary Ware Market for the historical period of 2017-2021 and the forecast period of 2021-2026.
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Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.