ASEAN Ceramics Market Worth 69.08 Bn By 2025 | CAGR: 8.2%

Friday 24 November 2017, Amsterdam

The ASEAN ceramics market is anticipated to reach a market size of USD 69.08 billion by 2025, according to a new report by Grand View Research, Inc. The growing construction industry and rising government spending on infrastructural development are expected to have positive impacts on the market growth over the forecast period. The rising need for ceramic tiles in restaurants, offices, malls, and resorts will augment product demand growth over the next eight years.

Traditional and advanced ceramics are the two product categories of ceramics. The traditional product segment is growing on account of its increasing application in the manufacturing of clay bricks, tableware, and porcelain tiles. The advanced product segment is expected to grow over the forecast years mainly on account of their capability of performing under extreme conditions. These materials exhibit a very high degree of industrial efficiency, which has resulted in rising demand for the product from various industries, including heavy machinery, automotive, energy, cutting tools, and defense.

Ceramic tiles were the largest application segment for ASEAN ceramics, accounting for 25.5% of the ASEAN ceramics industry revenues in 2016. The number of construction projects are on the rise owing to the demand for residential infrastructure and renovation of existing buildings, most notably in rapidly-emerging countries such as Indonesia and Malaysia. This is proving to be a major driver for ceramic tile manufacturers in the region.