ASEAN Ceramics Market Size to Reach $69.08 Billion by 2025, Owing To High Demand for Ceramic Tiles in Offices, Restaurants, Resorts And Malls | Million Insights

ASEAN Ceramics Market Size to Reach $69.08 Billion by 2025, Owing To High Demand for Ceramic Tiles in Offices, Restaurants, Resorts And Malls | Million Insights

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According to new report available with Million Insights, the ASEAN ceramics industry is predicted to grow at 8.2% CAGR in the forecast period, providing numerous opportunities for market players to invest in research and development of the market.

The ASEAN Ceramics Market size is projected to value at USD 69.08 billion by 2025, according to a new report published by Million Insights, at a CAGR of 8.2% from 2017 to 2025. The emerging construction industry and the increasing government expenditure on infrastructural development are poised to positively impact market growth in the upcoming years. The growing demand for ceramic tiles in offices, restaurants, resorts, and malls is projected to stimulate product demand growth in the coming eight years.

The product category of ceramics has been bifurcated into traditional and advance ceramics wherein, the traditional segment is emerging due to its increasing use in the manufacturing of tableware, porcelain tiles, and clay bricks. The advance segment is poised to grow during the projected years primarily due to their ability to work under severe conditions. These materials showcase a higher level of industrial efficiency which has led to the rising product demand from different industries including automotive, cutting tools, defense, and heavy machinery.

To download the sample PDF of “ASEAN Ceramics Market Report” please click here: https://www.millioninsights.com/industry-reports/asean-ceramics-market/request-sample

 

Ceramic tiles held the largest application segment with a share of 25.5% based on revenue in 2016. The number of construction contracts is rising due to the demand for the renovation of the existing buildings and residential infrastructure, especially in developing countries like Malaysia and Indonesia thus contributing to the regional market growth.