LATIN AMERICA SANITARY WARE MARKET 2022-2028
MARKET OUTLOOK
The sanitary ware market in Latin America is projected to develop with a CAGR of 3.39% by revenue and 3.17% by volume over the forecasting years from 2022 to 2028, according to a study by Triton Market Research. Mexico, Brazil, and Rest of Latin America together shape the market in this region.
The construction activity in Argentina is a key driver of its economy. In May 2020, the government introduced a federal public investment program, Argentina Construye, to build housing and healthcare infrastructure in the country. The plan involved an investment of 29 billion pesos to construct 5500 homes, refurbish 42900 units, and deliver 204,000 microloans to purchase materials, as well as create 1250 health centers throughout the country.
The government had announced a public-private partnership (PPP) initiative to bolster the construction activities. There were several construction projects started under this initiative. With the rising investments in residential and non-residential construction, the growth of the Argentine construction industry has increased in value. This growth in the construction sector is supporting the demand for sanitary ware in various applications, which will drive the studied market growth in Rest of Latin America over the coming years.
COMPETITIVE OUTLOOK
Some of the competitors in this market include Cera Sanitaryware Limited, Laufen Bathrooms AG, Elkay Manufacturing Company, Jaquar Group, Villeroy & Boch AG, Rak Ceramics, Fortune Brands Home & Security Inc, Corona, and Toto Ltd.
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