India Ceramic Tiles - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

India Ceramic Tiles - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)

The India Ceramic Tiles Market size is estimated at USD 9.20 billion in 2024, and is expected to reach USD 17.36 billion by 2029, growing at a CAGR of 13.54% during the forecast period (2024-2029).

In recent years, the Indian ceramic tiles market has been growing steadily. Due to the lockdown due to the coronavirus outbreak, around 10 million immigrant workers returned to their home country. This shortage of labor forced ceramic tile manufacturers to complete projects promptly. The increasing demand for ceramic tiles in India can be attributed to several factors. The real estate sector is growing rapidly due to government policies, and the housing sector is also seeing strong growth. The disposable income of India is also increasing, and people are looking for ways to beautify their living and workspaces. RERA has made the real estate industry more transparent and process-oriented. The demand for new touchless or hygiene-oriented products in bathroom ware and germ-free tiles may be at the forefront of the market in the near future. Several government schemes are likely to boost the Indian real estate market.

RERA also has a direct impact on the ceramic industry. Over the next few years, remodeling activity is expected to increase in India's residential ceramic tiles market segment. People are spending huge amounts of money to upgrade their walls and flooring. This will be one of the key factors driving demand for ceramic products in the residential segment of the residential market over the next few years.

India Ceramic Tiles Market Trends

Growing Urbanization is Driving the Market

India has witnessed rapid urbanization, with the urban population accounting for a significant share of the population in the current year. The surge in urbanization in India is primarily attributed to city expansions and significant migration. The country has channeled investments into various urban sectors, including housing, road networks, urban transport, water supply, power infrastructure, smart cities, and urban management initiatives. This urbanization wave has notably spurred demand in residential and commercial construction markets, propelling growth in the Indian ceramic tiles sector. India's urban population is not only witnessing absolute growth, buoyed by a burgeoning middle class and a stable democracy, but also witnessing a consistent influx of migrants, potentially leading to the emergence of new cities.

Rising Investments in Real Estate in India is Driving the Market

Despite the economic crash, real estate investments have maintained their reputation for profitability, consistently yielding positive returns. This investment surge has correspondingly fueled a heightened demand for housing in India, which accounts for 70% of the country's total tile demand. Real Estate Investment Trusts (REITs) have broadened investment opportunities in the real estate sector, luring in both institutional and retail investors. REITs offer an enticing proposition: the chance to invest in real estate sans property ownership, making them particularly appealing to diversification-minded investors. Moreover, the burgeoning disposable income of India's middle class has enticed developers and investors to tap into this expanding market.

India Ceramic Tiles Market Overview

The report focuses on key global players in India's fragmented ceramic tiles market. Presently, a handful of major players hold significant market shares. Yet, as technology advances and products evolve, mid-sized and smaller firms expand their footprints. They achieve this by securing fresh contracts and exploring untapped markets.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support