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The market size of the Southeast Asia Ceramic Tiles industry is estimated to grow at a CAGR of around 7.58% during the forecast period, i.e., 2023-28. The rapid growth of the travel and tourism industry and rising infrastructure developments across the region contributed to this growth.
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MARKET RESEARCH REPORT Southeast Asia Ceramic Tiles Market Research Report: Forecast (2023-2028) UPDATED SAMPLE 2024-30 MARKNTEL ADVISORS
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Market Insights The market size of the Southeast Asia Ceramic Tiles industry is estimated to grow at a CAGR of around 7.58% during the forecast period, i.e., 2023-28. The rapid growth of the travel and tourism industry and rising infrastructure developments across the region contributed to this growth. Southeast Asia has been one of the hubs for global tourism due to the presence of a large number of tourist attractions like museums, temples, beaches, amusement parks, etc. The region has approximately 37 UNESCO World Heritage sites. Further, tourism accounted for approximately 12% of the entire GDP of the region before the pandemic in 2022 as per the Organization for Economic Co-operation and Development (OECD).
Market Drivers Rise in the Construction of Corporate Buildings Due to the Presence of Several Tax Heavens in the Region: The region has become a preferred location for multinational corporations to establish their headquarters and Business Process Outsourcing (BPO) and Shared Service Centers due to the presence of several tax haven nations such as Thailand, the Philippines, and Malaysia. Corporations do not have to pay heavy taxes that are otherwise applicable in any other regions across the globe. Moreover, the availability of inexpensive skilled workers in the region is also a big factor for corporations that are setting up their operations in Southeast Asia. The reason for the availability of an inexpensive skilled workforce is the low daily minimum wage rate for workers in the region. For instance, according to the Labor Ministry, in 2021, Thailand’s daily minimum wage throughout the country ranged from approximately USD 9 to 10.
Market Segments By Type (Glazed, Unglazed, Others (Semi-Glazed and Scratch-Free Tiles)), By Application Area (Floor Tiles, Wall Tiles, Others (Ceilings & Decoration)), By Distribution Channel (Direct Sales, Dealers and Distributors), By Demand Type (New Construction, Renovation and Replacement), By End User (Residential, Commercial & Retail, Hospitality, Government & Transportation, Others (Industrial, etc.)), By Country (Indonesia, Vietnam, Malaysia, Singapore, Thailand, Myanmar, The Philippines),
Top Companies Mohawk Industries, Inc., SCG Ceramics, Jaquar Ceramics, RAK Ceramics, ATLAS CONCORDE S.P.A, Ceramica Saloni, Newpearl Group, Ricchetti Group, Porcelanosa Grupo, Platinum Ceramics Industry and Others
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