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Surging Growth of Travel & Tourism Industry to Propel Southeast Asia Ceramic Tiles Market

The Southeast Asia Ceramic Tiles Market is projected to grow at a CAGR of 7.58% during the forecast period of 2024-30, cites MarkNtel Advisors in the recent research report. The growth is driven by the rapid infrastructural development and rising growth of the travel and tourism industry in the region. The region has emerged as a prominent global tourism hub, attracting visitors with its rich array of tourist attractions, such as museums, temples, beaches, and amusement parks. The region has around 37 UNESCO World Heritage sites, adding to its attraction. Additionally, with its consistently pleasant weather throughout the year, tourists flock to the area all year round. According to the Organization for Economic Co-operation and Development (OECD), tourism accounted for approximately 12% of the entire GDP of the region before the pandemic in 2019. Therefore, the surging tourism and travel have been boosting the construction of hotels, resorts, restaurants, etc., across the region, and this has led to the growing demand for ceramic tiles in recent years

Moreover, the implementation of government initiatives like the Build Build Build program, which focuses on addressing major infrastructural bottlenecks and emphasizes commercial development and energy projects would drive the demand for ceramic tiles in coming years. Along with this, the Philippines and Vietnam have significantly increased their investments in large-scale ventures in recent times, as stated by the International Monetary Fund. Furthermore, both commercial and residential sectors have experienced a considerable rise in investment, with spending increasing from an average of 3.5% of GDP during 2011–2016 to surpassing 5.16% in 2018. As a result, the growing emphasis on infrastructural development from both public and private sectors is expected to drive the demand for ceramic tiles in the future years, further states the research report, “Southeast Asia Ceramic Tiles Market Analysis, 2024.”

Southeast Asia Ceramic Tiles Market

Based on Type Glazed Segment Would Account for a Major Share of the Market

Based on the Type segment, the market is further bifurcated into, glazed, unglazed, and others. The glazed, segment is anticipated to hold a significant market share of the Southeast Asia Ceramic Tiles Market during the forecast period. This growth is attributed to its growing demand in the commercial and residential sectors. These tiles offer exceptional resistance to staining owing to the presence of a protective layer of glass. Additionally, these tiles eliminate the need for frequent polishing, re-buffing, or waxing, making them low-maintenance and cost-effective. Furthermore, the increasing prevalence of cutting-edge technologies like digital and 3D printing has modernized ceramic tiles industries, offering a vast array of designs that were previously unattainable through traditional methods. These cutting-edge designs enhance the aesthetic appeal of ceramic tiles, making them suitable for a wide range of interior and exterior applications in various architectural and design projects.

Indonesia is Expected to Acquire Major Market Share of the Southeast Asia Ceramic Tiles Market

Indonesia is poised to dominate a significant market share of the market due to the country’s robust infrastructure development, coupled with the expansion of the real estate sector and increased public and private investments. Indonesia is experiencing substantial growth in its infrastructure projects, driven by a strategic combination of key factors aimed at fostering economic growth and enhancing the overall quality of life for its population. As a result, the government has announced several projects, including infrastructure for the coming years. This would foster market growth in the forthcoming years.

Moreover, the Indonesian government has set ambitious goals to position itself among the world's top ten economies by 2025, as outlined in its Masterplan for Acceleration and Expansion of Indonesia's Economic Development (MP3EI). This comprehensive, long-term program involves close collaboration between the central government, local administrations, state-owned enterprises, and the private sector. Notably, private companies play a pivotal role in the realization of this plan, particularly through Public-Private Partnership (PPP) initiatives, where they are expected to contribute a substantial portion of the financing. As a result of the MP3EI's emphasis on infrastructure development and sustainability, the ceramic tiles market in Indonesia is anticipated to experience a favorable market environment in the forecast period.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including (Mohawk Industries, Inc., SCG Ceramics, Jaquar Ceramics, RAK Ceramics, ATLAS CONCORDE S.P.A., Cerámica Saloni, Newpearl Group, Ricchetti Group, Porcelanosa Grupo, Platinum Ceramics Industry and others) are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

  1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
  2. What are the trends influencing the current scenario of the market?
  3. What key factors would propel and impede the industry across the region?
  4. How has the industry been evolving in terms of geography & product adoption?
  5. How has the competition been shaping across various countries?
  6. How have the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2018-28?
  7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?

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