IMARC Group, a leading market research company, has recently releases report titled “Large Format Ceramic Panel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global large format ceramic panel market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How big is the large format ceramic panel market?
The global large format ceramic panel market size reached US$ 91.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 125.2 Billion by 2028, exhibiting a growth rate (CAGR) of 5.35% during 2023-2028.
What is the large-format ceramic panel?
A large-format ceramic panel refers to a craftily designed and naturally occurring product that is composed of ceramic stone. It is made using the newest ceramic technologies and is commercially available in various thicknesses, widths, and weights. A large-format ceramic panel exhibits various properties, such as flexural strength, frost, fire, and ultraviolet resistance. It is widely used in benchtops, flooring, countertops and wall cladding to help improve the aesthetic value of a space. It also assists in providing better durability, high tensile strength, perfect flatness, cost-effectiveness, versatility, quail installation and excellent physical and mechanical properties. As a result, large-format ceramic panels are widely used in renovations, interior design and architecture applications.
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What are the growth prospects and trends in the large-format ceramic panel industry?
Significant growth in the construction industry across the globe is creating a positive outlook for the market. Large format ceramic panels are widely used due to the introduction of seamless ceramic tiles used in countertops, flooring, and vanity tops in commercial spaces and retail facilities. In line with this, the widespread product adoption due to its superior durability, versatility, finishing and chemical and stain resistance properties are further augmenting the market growth. Apart from this, key players are introducing a broad product range in various colors, patterns, textures and sizes that cater to diverse consumer preferences, which is providing an impetus to the market growth. Additionally, the increasing utilization of large format ceramic panel across the healthcare industry due to its numerous benefits, such as antimicrobial, anti-slip, and water resistance, is positively impacting the market growth. Other factors, including the rising inclination toward aesthetically appealing renovations, rapid urbanization, and increasing expenditure capacities of consumers, particularly in emerging economies, are anticipated to drive the market toward growth.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Application:
Countertop
Exterior Wall Cladding
Flooring
Interior Wall
Breakup by Thickness:
<3mm
3mm-9mm
1mm–12mm
>12mm
Breakup by Construction Type:
New Construction
Replacement and Renovation
Breakup by Region:
North America (U.S. & Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
Latin America (Brazil, Mexico)
Middle East & Africa
Who are the key players operating in the industry?
The report covers the major market players including:
ABK Group
Adila Ceramic Pvt. Ltd.
Azulev Group
Elemex, Inc.
Florim Ceramiche S.p.A.
GranitiFiandre S.p.A.
Laminam S.p.A.
Levantina y Asociados de Minerales, S.A.
Neolith
RAK Ceramics PJSC.
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