Mexico Ceramic Tiles - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029

Mexico Ceramic Tiles - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029

The Mexico Ceramic Tiles Market size is estimated at USD 1.46 billion in 2024, and is expected to reach USD 1.88 billion by 2029, growing at a CAGR of 5.24% during the forecast period (2024-2029).

The COVID-19 pandemic made people less interested in buying ceramic tiles in many places, including North and Latin America. Ceramic tile production had been reduced due to nationwide lockdowns. Most commercial and residential projects were also put on hold for an extended period of time, affecting the Mexican ceramic tile market indirectly.

Rising urbanization, industrialization, and disposable income are all things that are likely to boost industry growth in economies that are still growing. Also, the building of homes, shopping malls, offices, and other places where people work is likely to increase demand. Ceramic products are used a lot in the country's construction industry. Nearly 45% of the country's total value is made up of ceramic tiles.

By 2027, floor tiles will have a big share of the market and are expected to bring in around USD 100 billion. When compared to hardwood, ceramic floor tiles are more durable and can handle heat and shock better. This will help the industry grow. Another reason they are widely used is the ease with which they can be installed and replaced.

Mexico Ceramic Tiles Market Trends

The Growing Demand For Construction is Projected to Assist The Growth of The Market

In Mexico, there has been an increase in demand for brand-new housing units. The demand has increased in a country in South America since fewer people are living together and more people are moving to cities. Mexico must increase the number of housing units it constructs each year to meet the rising demand. The Massachusetts Institute of Technology (MIT) reported that Mexico needs to construct 800,000 housing units annually to keep up with the rising demand. This represents around 3.87% of Mexico's overall GDP. Significantly, the survey predicts that several homes in Mexico will be replaced over the next three to four years. La Haus is a Colombian business that offers a residential marketplace where people can buy and sell new buildings. The country's tile industry will benefit from construction developments.

Because ceramic tiles are so cheap, the building industry is growing quickly in the market. Ceramic tiles are often used in homes and businesses because they last a long time and don't break easily. Business operations, construction projects, and real estate investment all affect the demand for ceramic tile. From a short- to medium-term perspective, this rising demand for residential dwelling units in Mexico will continue to promote new developments and building activity, hence boosting market growth overall.

Floor Tiles Segment is Projected to Develop in the Ceramic Tiles Market

The market for ceramic tiles is anticipated to grow in the floor tile segment. Due to their durability, water resistance, low maintenance requirements, dependability, and great sturdiness, ceramic tiles are an excellent and enduring choice for flooring. They are used in private structures as well as in settings like hospitals, government offices, and sports facilities where there is a lot of regular foot traffic. They are the best option for kitchen and bathroom flooring because they are water-safe and easy to clean.

Mexico Ceramic Tiles Industry Overview

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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