The ASEAN ceramics market is
anticipated to reach a market size of USD 69.08 billion by 2025, according to a
new report by Grand View Research, Inc. The growing construction industry and
rising government spending on infrastructural development are expected to have
positive impacts on the market growth over the forecast period. The rising need
for ceramic tiles in restaurants, offices, malls, and resorts will augment
product demand growth over the next eight years.
Traditional and advanced ceramics are the
two product categories of ceramics. The traditional product segment is growing
on account of its increasing application in the manufacturing of clay bricks,
tableware, and porcelain tiles. The advanced product segment is expected to
grow over the forecast years mainly on account of their capability of
performing under extreme conditions. These materials exhibit a very high degree
of industrial efficiency, which has resulted in rising demand for the product
from various industries, including heavy machinery, automotive, energy, cutting
tools, and defense.
Ceramic tiles were the largest application
segment for ASEAN ceramics, accounting for 25.5% of the ASEAN ceramics industry
revenues in 2016. The number of construction projects are on the rise owing to
the demand for residential infrastructure and renovation of existing buildings,
most notably in rapidly-emerging countries such as Indonesia and Malaysia. This
is proving to be a major driver for ceramic tile manufacturers in the region.
Access
Research Report of ASEAN Ceramics Market @
http://www.grandviewresearch.com/industry-analysis/asean-ceramics-market
Further key findings from the report suggest:
· The ASEAN ceramics market was estimated at
USD 33.98 billion in 2016, and is expected to grow at a CAGR of 8.2% from 2017
to 2025, driven primarily by the increasing need for the products in housing,
construction, and industrial applications.
· The medical segment is slated to experience
the fastest growth, in terms of revenue, projected to grow at a CAGR of over
8.5% during the forecast period, resultant from the increasing use of ceramics
in the medical sector for orthopedic functions.
· The traditional product segment was
observed to be the largest revenue-accruing product segment in 2016, and is
estimated to grow at a CAGR of about 8% till 2025. The advanced product segment
is projected to witness higher growth during the forecast period, owing to
increasing application scope in high-performance applications.
· The industry in Indonesia is projected to
witness substantial growth over the next eight years owing to significant
growth of the medical and housing & construction industries. In terms of
revenue, the market in Indonesia is expected to grow at a CAGR of 10.5% during
the forecast period.
· Acquisitions accounted for the highest
share among strategic initiatives undertaken by players involved in the ASEAN
ceramics industry. For instance, in July 2017, Saint-Gobain acquired Kirkson
Industrial Reinforcements GmbH, with the objective of consolidating their
position in the high-performance solutions segment for the housing &
construction end-use vertical.
Grand View Research has segmented the ASEAN
ceramics market on the basis of product, application, end use, and region:
ASEAN Ceramics Product Outlook (Volume,
Million Tons; Revenue, USD Billion, 2014 - 2025)
·
Traditional
·
Advanced
ASEAN Ceramics Application Outlook (Volume,
Million Tons; Revenue, USD Billion, 2014 - 2025)
·
Sanitary ware
·
Table & ornamental ware
·
Abrasives
·
Bricks, roof tiles and pipes
·
Refractories
·
Ceramic tiles
·
Decorative ceramic tiles
·
Packaging
·
Fine art ceramics
·
Others
ASEAN Ceramics End Use Outlook (Volume,
Million Tons; Revenue, USD Billion, 2014 - 2025)
·
Housing & construction
·
Industrial
·
Medical
·
Others
ASEAN Ceramics Country Outlook (Volume,
Million Tons; Revenue, USD Billion, 2014 - 2025)
·
Indonesia
·
Malaysia
·
Singapore
·
Thailand
·
Vietnam
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The company
provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For More
Information: www.grandviewresearch.com
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