The ceramic tiles market size is expected to reach $14.2 billion by 2028, according to a new report by Grand View Research, Inc. The market is projected to expand at a CAGR of 7.9% from 2020 to 2028. The growth of infrastructure development activities in the GCC countries to drive the shift towards non-oil economies is expected to drive the market.

Significant Revenue

Ceramic tiles represent one of the most active construction markets globally, with a market revenue of over $2.4 trillion in 2020 and over 22,000 ongoing projects in countries like the United Arab Emirates, Saudi Arabia, Qatar, Bahrain, Kuwait, and Oman.

This is expected to lead to an increase in demand for ceramic tiles, primarily in residential and commercial complexes, including residences, hotels, malls, educational institutions, healthcare facilities, and cinemas.

Key market players are exporting their products to other countries and parts of the world to enhance their geographic presence and expand their businesses globally. For instance, in 2019, Saudi Ceramics signed a $32 million Murabaha financing agreement with the International Islamic Trade Finance Corporation (ITFC). The agreement was part of the export financing promotion initiative undertaken by the Saudi Export Development Authority.

Market Report Highlights

The porcelain tiles segment accounted for the largest revenue share, valued at $4.7 billion in 2020, due to its denser and harder structure compared to other tiles and better scratch resistance compared to glazed ceramic tiles.

The wall tiles application segment is expected to witness a notable revenue-based CAGR of 8.9% between 2020 and 2028 due to the increasing demand for wall tile patterns for decorating residential and commercial spaces.

The residential end-use segment is projected to witness the fastest revenue-based CAGR of 9.1% from 2020 to 2028 due to the rapidly growing residential construction activities in the GCC economies, driven by favorable financial policies.

Saudi Arabia dominated the market and accounted for a revenue share of $2.9 billion in 2020 and is expected to experience significant growth during the forecast period due to continued government investments in infrastructure projects.

New entrants in the market are introducing new products for ceramic floor tiles with enhanced durability and resistance. Such players are either acquired by well-established existing players or continue to penetrate the market, creating strong competition.