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.
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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.