According to a research report titled ‘Global Ceramic and Natural stone tiles Market Size study, by product (Glazed Ceramic Tiles, Porcelain Tiles , Scratch-free Ceramic Tiles, Granite Tiles, Limestone Tiles, Travertine Tiles, Others), and Regional Forecasts 2020-2027’, available with Market Study Report, global ceramic and natural stone tiles market was valued at USD 362.7 billion in 2020, and is estimated to grow at a compound annual rate of 5.8% during 2020-2027, aggregating USD 567.61 billion by the end of the stipulated timespan.
 

As per the research findings, increasing investment in construction sector including commercial and residential platforms, along with rising population and favorable government housing policies are stimulating global ceramic and natural stone tiles market growth.
 

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For the record, Leading Indicator of Remodeling Activity (LIRA) cites that home repair and renovation spending is projected to rise from 3.5% in 2020 to 3.8% by 2021. Moreover, growing necessity for infrastructure upgrades and escalating demand for water and chemical resistant tiles will add significant momentum to the industry development during the forecast period.
 

Notably, ceramic and natural stone tiles are available in several textures, sizes, forms, and colors. They are made from the natural stone and are primarily used in interior designing in kitchens and bathrooms. Ceramic and natural stone tiles are available in various types such as porcelain tiles, glazed ceramic tiles, travertine tiles, granite tiles, scratch-free ceramic tiles, limestone tiles, and others.
 

Elaborating on the factors hindering global ceramic and natural stone tiles market expansion, elevated costs of construction, stringent government regulations, easily availability of substitutes like recyclable glass tiles and rubber, and restrictions on mining activities are anticipated to impede business development in the ensuing years.
 

On the regional front, as per the research literature, global ceramic and natural stone tiles market size spans across North America, Asia Pacific, Latin America and Europe. Of these, Europe accounts for a major portion of the overall market share, attributable to increasing geriatric population, prompt availability of affordable urgent care services, and presence of an advanced healthcare infrastructure in the region.
 

Meanwhile, Asia-Pacific market is projected to record colossal growth rate during the forecast period 2020-2027. Rising incidences of injuries, increasing disposable income, and improving healthcare infrastructure are the major factors promoting the regional growth.
 

Key contenders in global ceramic and natural stone tiles market space are Florida Tile Inc., Porcelanosa Group, RAK Ceramics P.J.S.C, Grupo Cedasa, Nitco Ltd., Atlas Concorde S.p.A., Ceramica Carmelo Fior, Orient Bell Ltd., Crossville Inc. and Kajaria Ceramics Ltd.