Global Large Format Ceramic Panel Market to Grow at 11.3% During 2022-2027, Impelled by the Significant Growth in the Construction Industry
According to the latest report by IMARC Group, titled "Large Format Ceramic Panel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global large format ceramic panel market is expected to grow at a CAGR of 11.3% during 2022-2027. A large-format ceramic panel refers to a craftily designed and naturally occurring product that is composed of ceramic stone. It is made using the newest ceramic technologies and is commercially available in various thicknesses, widths, and weights. A large-format ceramic panel exhibits various properties, such as flexural strength, frost, fire, and ultraviolet resistance. It is widely used in benchtops, flooring, countertops and wall cladding to help improve the aesthetic value of a space. It also assists in providing better durability, high tensile strength, perfect flatness, cost-effectiveness, versatility, quail installation and excellent physical and mechanical properties. As a result, large-format ceramic panels are widely used in renovations, interior design and architecture applications.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Large Format Ceramic Panel Market Trends-
Significant growth in the construction industry across the globe is creating a positive outlook for the market. Large format ceramic panels are widely used due to the introduction of seamless ceramic tiles used in countertops, flooring, and vanity tops in commercial spaces and retail facilities. In line with this, the widespread product adoption due to its superior durability, versatility, finishing and chemical and stain resistance properties are further augmenting the market growth. Apart from this, key players are introducing a broad product range in various colors, patterns, textures and sizes that cater to diverse consumer preferences, which is providing an impetus to the market growth. Additionally, the increasing utilization of large format ceramic panel across the healthcare industry due to its numerous benefits, such as antimicrobial, anti-slip, and water resistance, is positively impacting the market growth. Other factors, including the rising inclination toward aesthetically appealing renovations, rapid urbanization, and increasing expenditure capacities of consumers, particularly in emerging economies, are anticipated to drive the market toward growth.
- On the basis of the application, the market has been classified into countertop, exterior wall cladding, flooring, and interior wall. Amongst these, interior wall dominates the market.
- Based on the thickness, the market has been divided into <3mm, 3mm-9mm, 9.1mm–12mm, and >12mm. Currently, 3mm-9mm hold the largest market share.
- On the basis of the construction type, the market is dominated by new construction, followed by replacement and renovation.
- Based on region, the market has been categorized into Europe (Germany, France, the United Kingdom, Italy, Spain, and Others), North America (the United States and Canada), Asia-Pacific (China, Japan, India, Australia, and Others), Latin America (Brazil, Mexico and Others), Middle East and Africa (SaudiArabia, SouthAfrica, Turkey and United ArabEmirates). Presently, North America holds the largest market share.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include ABK Group, Adila Ceramic Pvt. Ltd., Azulev Group, Elemex, Inc., FlorimCeramiche S.p.A., GranitiFiandre S.p.A., Laminam S.p.A., Levantina y Asociados de Minerales, S.A., Neolith, and RAK Ceramics PJSC.
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