The global ceramic sanitary ware market is projected to witness a good growth at a CAGR of 6.5% from 2021 to 2031 and the same is expected to value USD42.91bn by the end of 2031 as compared to its valuation of USD 21. 74bn in 2020.
The surge in
commercialization is anticipated to drive the growth in the global ceramic sanitary ware market during the
forecast period.
Researchmoz
sheds some light on the market dynamics of the global ceramic sanitary ware
market which involves market size, trends, drivers, opportunities, restraints,
regional dominance, and competitive edge during the forecast period.
Factors Driving and Restraining the Market
The factors
that are anticipated to have a positive effect on the global ceramic sanitary
ware market during the forecast period include-
- The rapid urbanization across all the
regions is expected to bolster the growth of the ceramic sanitary ware
market during the forecast period.
- The properties such as being highly
efficient, corrosion-free, long-standing, and cost-effective as compared
to metal wares make them viable for demand for ceramic sanitary ware in
the coming years.
- The modern lifestyle and increasing
disposable income in the hands of consumers are expected to increase the
demand for ceramic sanitary ware during the forecast period.
- The better sanitization initiatives from
the government are projected to boost the expansion of the global ceramic
sanitary ware market in the coming years.
- The residential sector is expected to
augment the global ceramic sanitary ware market in the future.
However, there are certain restraints that are expected to
hamper the ceramic sanitary ware market during the forecast period.
- The low rate of replacement for bath and
sanitary products is anticipated to hinder the growth of the global
ceramic sanitary ware market in the coming years.
- The wavering rates of raw materials are
projected to restrain the growth of ceramic sanitary ware in the forecast
years.
Despite these,
the aesthetic looks that luxury sanitary ware provides are projected to drive
the global ceramic sanitary ware market during the forecast period.
Analyst’s Views
The global ceramic
sanitary ware market is anticipated to witness significant growth between 2021
to 2031.
The rising
commercialization and rapid industrialization are a couple of major factors
that are expected to expand the ceramic sanitary ware market during the forecast
period.
In terms of
product, the water closest segment is anticipated to thrive the ceramic
sanitary ware product in the forecast years.
Further, the
residential segment is expected to intensify the growth opportunities for
ceramic sanitary ware in the future.
The Asia
Pacific is likely to hold a larger share in the global ceramic sanitary ware
market, owing to high demand from developing countries such as China and India.
Alternatively,
North America is also projected to witness significant growth in the region,
owing to the demand for luxury bath basics.
Competitive Landscape
The global
ceramic sanitary ware market is highly competitive and fragmented due to the
presence of prominent players.
These players
are targeting on coming up with market strategies such as improving their
product portfolio through new launches, mergers, collaborations, acquisitions
etc.
The current stalwarts in the global ceramic sanitary ware market
include-
- Hansgrohe SE
- Jaquar Group
- Laufen Bathroom AG
- Toto Ltd.
- Villeroy & Boch AG
- Duravit AG
- Eros Sanitaryware
- Foster + Partners
- Grohe AG
- Roca Sanitario S.A.
- Lixil Corporation
- Geberit AG
- Ideal Standard International
- Cersanit SA, etc.
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