The global Ceramic Sanitary Ware Market is projected to reach USD 80.2 billion by the end of 2025 and expected to grow with a CAGR of 10.4% over the forecast period, according to a new report published by Million Insights. Rising consumer awareness regarding the personal hygiene and sanitation through the help of government supportive initiatives are expected to propel the market growth. For instance, in October 2014, government of India has launched the Swachh Bharat Abhiyan campaign. The campaign has helped government to increase the sanitation coverage from 41.92% in 2014 to 63.96% in 2018. Thus, projected to bolster the product demand in the forthcoming years. Furthermore, the growing adoption of ceramic sanitary ware in hotels, restaurants, Malls, and corporate offices are expected to bolster the market growth over the forecast period.
The growing demand of products among the consumers, due to its cost-effectiveness, high resistance properties against chemicals & scratches, and low maintenance cost are expected to aid the market growth in the upcoming years. Furthermore, with the rising competition in the market, companies are compelled to provide innovative designs, textures, and colors products. Moreover, it is also helping companies in differentiating the products, thus providing a competitive edge in the market. The toilet sinks & water closets segment has captured the largest market revenue share in 2018 and anticipated to dominate over the next few years. Further, rising investments by key manufacturers for product development and new product launches are expected to accelerate the market growth over the forecast period.
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The urinals segment is projected to account for more than USD 15 billion by 2025. The rising number of commercial offices across the globe is projected to upsurge the product demand, during the forecast period, 2019 to 2025. Further, product innovation and integration of advanced technologies in urinal systems are projected to aid the segment growth in the forthcoming years. The wash basins segment is anticipated to see significant growth over the forecast period, 2019 to 2025.
The residential segment has captured the largest market revenue share, in 2018 and anticipated to dominate the market over the forecast period. The rising disposable income of middle-class consumers and the increasing number of home loan policies by banks in developing nations like Bangladesh, India, Indonesia, and China are projected to accelerate the market growth in the upcoming years.
The rising number of sanitary awareness programs by governments such as the Swachh Bharat Mission (SBM) is expected to increase product awareness and encourage peoples for construction of toilets in rural areas. This is expected to boost the demand for the product over the forecast period.
The key players in the ceramic sanitary ware market are Duravit AG; Villeroy & Boch; RAK Ceramics; Toto Inc.; Hansgrohe; Grohe AG; Kohler; HSIL and others. The market players are adopting various competitive strategies such as product innovation, collaborations, merger & acquisition, and partnership, in order to capture higher market share and gain a competitive edge in the market.
In January 2019, H & R Johnson has launched a wide range of sanitary ware products, which were promoted under the brand name of Johnson International. Moreover, the product is equipped with additional features like zirconium emulsified glazing for stain resistance and a 4D flushing system.
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Further key findings from the report suggest:
• The toilet sinks and water closets segment has captured more than 40% market revenue share, in 2018.
• The wash basins segment is anticipated to see the fastest growth with a CAGR of 12.3%, during the forecast period, 2019 to 2025.
• The residential segment has captured more than 60% of market revenue share, in 2018.
• North American market has captured over 20% market revenue share in 2018, owing to rising demand for luxurious and premium quality sanitary wares.
• The Asia Pacific market is anticipated to expand with a CAGR of 12.3%, during the forecast period, owing to rising development in the real estate industry and rising disposable income of middle-class consumers in emerging countries such as China, India, and Indonesia.
Million Insights has segmented the global ceramic sanitary ware market on the basis of product, application, and region:
Ceramic Sanitary Ware Product Outlook (Revenue, USD Billion, 2015 – 2025)
• Wash Basins
• Toilet Sinks & Water Closets
Ceramic Sanitary Ware Application Outlook (Revenue, USD Billion, 2015 – 2025)
Ceramic Sanitary Ware Regional Outlook (Revenue, USD Billion, 2015 – 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
• South Africa
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