India Tile Market Performance
The Indian tile market is one of the fastest-growing in the globe, driven mostly by increased urbanization, rising housing demand, real estate development, rising disposable income, and the growth of large cities, among other factors. India has surpassed China to take second place globally in terms of ceramic tile manufacturing and consumption, with consumption volume reaching 1,266 MSM.
On the other hand, growing foreign direct investment in India is likely to boost the construction sector, especially government-sponsored infrastructure projects, which will drive the demand for tiles, particularly long-lasting and scratch-free. As today's residential and commercial consumers prefer tiles over paints because they have a long life span of more than 8–10 years and are affordable as well, from 2015-20 the India Tile market expanded at a CAGR of 3%. In the upcoming years, it is anticipated that the tile industry will continue to grow.
Due to the ever-increasing government initiatives across the country and a rise in construction demand, the tile business in India is incredibly fragmented. The Indian tile industry is extremely competitive as a result of the presence of major companies like Kajaria Ceramics, Somany Ceramics, and Prism Johnson as well as various organized and unorganized businesses.
Major firms are creating new items like digital printing and germ-free tiles in order to stay competitive in the market. Because of the potential for growth, businesses are entering the sector. Kajaria Ceramics Limited has continued to dominate the India tile market with a market share of more than 1/4th of the market.
Moreover, in order to increase the competition and expand the business many players started merging with other players, In India, to increase market share and attract more customers, Italian tile maker Panaria group and the BSE listed Asian Granito India have entered into a 50:50 joint venture to manufacture and retail luxury tiles under the Bellissimo brand. The two firms is expected to invest INR 100 crore in the venture. On the other hand, Kajaria acquired more than 50% of the equity shares of South Asian Ceramic Tiles, which is located in Hyderabad, with this acquisition Kajaria is expected to expand its business in the southern region of India.
Scope of the Study
The following synopsis is based on the report " India Tiles Industry Performance - Competitive Landscape" published by Makreo Research and Consulting.
The report delves deeply into various parameters such as Present Market size, and market overview and mainly focuses on market competition. The study includes Player’s insights that provide an understanding of business highlights and financial highlights that may help market players capitalize on untapped business potential in the specific geography and recent mergers and acquisitions.
Companies covered in the India Tile Market Competitive Landscape Market Report:
• Kajaria Ceramics Ltd,
• Somany Ceramics Ltd,
• Nitco Ltd.,
• Asia Granito India Ltd.,
• Orient Bell Ltd.,
• Rak Ceramics India Pvt Ltd.,
• Simpolo Vitrified (P) Ltd.,
• Cera Sanitaryware Ltd.
The report helps readers to gain information on following areas:
• What is the current situation and how did the India Tile Market perform in the past?
• What is the investment scenario?
• Who are the key market players?
• What are the players' main business highlights?
• How are the players performing?
• What are the company's key mergers and acquisitions?