ASEAN Ceramics Market Future Growth and Analysis Report By 2025

 

The ASEAN ceramics market size is projected to value at USD 69.08 billion by 2025, according to a new report published by Million Insights, at a CAGR of 8.2% from 2017 to 2025. The emerging construction industry and the increasing government expenditure on infrastructural development are poised to positively impact market growth in the upcoming years. The growing demand for ceramic tiles in offices, restaurants, resorts, and malls is projected to stimulate product demand growth in the coming eight years.

 

The product category of ceramics has been bifurcated into traditional and advance ceramics wherein, the traditional segment is emerging due to its increasing use in the manufacturing of tableware, porcelain tiles, and clay bricks. The advance segment is poised to grow during the projected years primarily due to their ability to work under severe conditions. These materials showcase a higher level of industrial efficiency which has led to the rising product demand from different industries including automotive, cutting tools, defense, and heavy machinery.

 

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Ceramic tiles held the largest application segment with a share of 25.5% based on revenue in 2016. The number of construction contracts is rising due to the demand for the renovation of the existing buildings and residential infrastructure, especially in developing countries like Malaysia and Indonesia thus contributing to the regional market growth.

 

Further key findings from the report suggest:

• The ASEAN ceramics market was worth USD 33.98 billion in 2016 and is poised to register a CAGR of 8.2% over the forecast period. The growth can be attributed to the rising demand for the products in construction, industrial, and housing applications.

• The medical division is expected to observe the fastest growth based on revenue with a CAGR of above 8.5% from 2017 to 2025 due to the rising use of ceramics in the medical industry for orthopedic functions.

• The traditional segment held the leading share in 2016 and is expected to register a CAGR of around 8 % over the forecast period. The advance segment is predicted to observe higher growth due to the rising applications of high-performance applications.

• Indonesia is expected to witness considerable growth in the next eight years due to substantial growth in the housing & construction and medical industries. The region is expected to register a CAGR of 10.5% based on revenue over the forecast years.

• Acquisitions held the highest share among various strategic initiatives adopted by players in the ASEAN ceramics industry. For example, Saint-Gobain, in July 2017, acquired Kirkson Industrial Reinforcements GmbH, aiming at the consolidation of their position in the high-performance segment for the housing & construction vertical.

 

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