November 12, 2019
According to the latest study titled ‘Large Format Ceramic Panel Market (2019 Edition) - World Market Review and Forecast to 2024 - By Application (Flooring, Interior Wall, Exterior Wall Cladding, Countertop), By Thickness (3mm and below, 5-9 mm, 9.1-12 mm, 20 mm and Above), By Region, By Country (2014-2024)-- By Country (US, Canada, Mexico, Germany, Italy, UK, Belgium, Holland, Spain, Russia, China, India, Indonesia, Saudi Arabia, UAE, Qatar)’ available at MarketStudyReport.com, the global large format ceramic panel market is estimated to grow with a CAGR of 9.42% by value and volume of the industry is predicted to grow with a CAGR of 11.83% through the year 2024.
Large format ceramic panel, owing to its extremely low weight, perfect flatness, and excellent mechanical and physical properties, is being used in several high-end commercial as well as residential buildings. Factors such as expansion of construction sector in tandem with advancements in manufacturing process in ceramic tile industry are the key factors driving the large format ceramic panel market.
Moreover, the availability of ceramic panels in wide range of dimensions, along with prevailing distribution channel are fostering the market growth. The study encompasses details about segmental shares, and expansion strategies adopted by manufacturers, alongside the challenges, drivers influencing the industry growth, trends, as well as restraints impacting the large format ceramic panel market outlook.
Based on application spectrum, the large format ceramic panel market is segmented into interior wall, flooring, countertops, and exterior cladding. While in terms of product thickness, the industry is categorized as 3mm & below, 5 to 9mm, 9.1 to 12mm, and 12mm & above.
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Considering the geographical landscape, the large format ceramic panel market is fragmented into regions, namely, North America, G.C.C, Europe, APAC, and rest of the world. As per the report, Europe large format ceramic panel market held 64.82% share in 2018 and is estimated to register significant growth over the forecast period. The regional growth is attributed to swift economic development, increasing number of construction projects, and shifting consumer preference for the product.
Some of the vendors that operate in the large format ceramic panel market are Neolith, Laminam Spa, Granitifiandre, Levantina, ABK Group, RAK Ceramics, and Florim.
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