Mexico Ceramic Tiles Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

Mexico Ceramic Tiles Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)

The COVID-19 pandemic hampered the ceramic tiles demand in several regions, such as North and Latin America. Nationwide lockdowns had reduced the production of ceramic tiles. Most commercial and residential projects were also suspended for a long time, indirectly affecting the Mexican Ceramic Tiles Market.

Increasing urbanization, industrialization, and disposable income in developing economies are estimated to positively impact industry growth. Further, the growing construction of housing spaces, shopping malls, offices, and other service spaces globally is expected to increase the demand. Ceramic products are widely used in the construction sector in the country and the production of ceramic tiles accounts for nearly 45% of the total value in the country.

Floor tiles will hold a major market share and are anticipated to generate a revenue of around USD 100 billion by 2027. Superior ceramic floor tile properties, such as high durability and good thermal & shock resistance compared to hardwood, will positively impact the industry growth. Furthermore, the ease of installation and replacement is another property due to which they are extensively used.

Mexico stands 9th on the world's top consumption countries for ceramic tiles. The consumption of ceramic tiles has been increasing steadily in the country due to their increasing demand in the construction sector. Glazed ceramic tiles are widely preferred in the country and are widely used for decorative as well as sanitary applications. The ceramic tiles are majorly used for floor applications in the country, while the remaining portion finds their usage in wall applications.

Around 242 million square meters of ceramic tiles were consumed in Mexico in 2020, a slight increase compared to the 218 million square meters consumed there in 2015. Mexico was ranked the seventh-largest consumer of ceramic tiles globally in 2020.

The residential property market is closely related to construction materials and finishes sales. When it comes to flooring, ceramic tiles are popular because of the wide variety of options, low cost, and easy maintenance. Currently, the residential sector is the dominant sector, with home renovation as one of the major driving areas for the usage of ceramic tiles.

On the residential side, social media sites' impact is important in increasing consumer exposure to these new flooring products and applications. The aspirational images motivate the consumer to remodel homes, stimulating the growth of ceramic tiles, which are widely used in bathrooms, kitchen, and other residences.

Based on usage, the new construction segment is predicted to account for more than USD 98 billion in revenue by 2027, owing to the growing construction business in the Asia Pacific region. This will result in exponential demand for ceramic tiles in institutional and residential construction projects as well as the growth of commercial construction in some parts of America, positively impacting the ceramic tiles market revenue. For instance, China has invested USD 13 billion in constructing Daxing International Airport in Beijing, which can handle at least 80 million passengers every year.

The Mexican ceramic tiles market is fragmented and highly competitive with the presence of both local as well as international players. Some of the major companies in the market include Mohawk Industries, Grupo Lamosa, Vitromex, and Interceramic. The players are constantly innovating in terms of product offering, and there is a rising merger and acquisition activity for players to gain their dominance within the market.

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