ASIA-PACIFIC SANITARY WARE MARKET 2022-2028

ASIA-PACIFIC SANITARY WARE MARKET 2022-2028

MARKET OUTLOOK
Research by Triton shows that the sanitary ware market in the Asia-Pacific will progress with a CAGR of 4.62% in terms of revenue and 4.34% in terms of volume over the forecasting duration 2022-2028. Japan, India, China, ASEAN countries, South Korea, Australia & New Zealand, and Rest of Asia-Pacific together shape the market in this region.
The construction industry in Vietnam has shown a significant growth rate over the past few years. It is expected to continue to evolve in the coming years, thanks to the government’s efforts to improve the quality of infrastructure. The nation aims to attract FDI for various infrastructure projects, including residential, commercial, and tourism, among others. This booming construction industry is estimated to boost the demand for sanitary ware. This will aid the growth of the studied market in the ASEAN over the forecasted duration.
On the other hand, Australia has an emerging construction industry that contributes significantly to its GDP. Though its growth was affected in 2020, owing to the Coronavirus pandemic, it is gradually gaining momentum. The government plans to invest $100 billion for building infrastructure projects over the next 10 years.
This is expected to fuel the demand for sanitary ware in the country over the forthcoming period. Further, the non-residential and engineering construction sectors are also enjoying stable growth rates. This is expected to bolster the demand for sanitary ware in the nation, and thereby foster the Australian sanitary ware market’s growth over the coming years.

COMPETITIVE OUTLOOK
Some of the notable companies operating in this market include Masco Corporation, Toto Ltd, Lecico Egypt, Jaquar Group, Laufen Bathrooms AG, Ideal Standard International,Kohler Co, Villeroy & Boch AG, Fortune Brands Home & Security Inc, and Lixil Group Corporation.