India Tiles Market to Cross US$4.9 Billion Revenues by 2017 Says TechSci Research
British Columbia, Canada, February 22, 2013 --(PR.com
)-- Global tiles market has witnessed ups and downs in the last few years due to 2009 crisis. However, the global tiles market has shown an upward trend since 2010 with the major demand coming from emerging economies. The growing real estate market in countries such as Brazil, India, China and Indonesia has led to the demand for tiles.
According to the recently published report by TechSci Research, “India Tiles Market Forecast & Opportunities, 2017” tiles market in India is expected to witness compounded annual growth rate of around 18% during 2012-2017. With the high number of people moving from rural to urban areas, increasing income, demand for luxury housing and dropping prices of tiles has all led to the increased demand for tiles in the country. It is forecasted that India Tile market will reach US $ 4.9Billion revenues by 2017 due to rising construction along with high per capita income as well as growing population which is making the future of tiles more promising.
Both organized and unorganized sectors play a vital role in manufacturing of tiles in India. The organized sector accounts for 40% of the market share which comprises of 13 players with H&R Johnson being the market leader followed by Kajaria Ceramics, Nitco Tiles and Somany Ceramics. Unorganized sector consists of small players with manufacturing tiles in Morbi (Gujarat) and Bikaner (Rajasthan).
The domestic production of tiles has increased due to several factors like tax incentives, governmental support and export benefits which has further fuelled the demand for ceramic tiles. It is estimated the demand for floor tiles is expected to witness almost 8% drop in next five years due to availability of substitute products.
“India Tiles Market Forecast and Opportunities, 2017” has evaluated the future growth potential of tiles market in India and provides statistics and information on market structure, market trends, market size, etc. The report will suffice in providing the intending clients with cutting-edge market intelligence and help them take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers and key challenges faced by the industry.