This article analyses the ceramic sanitaryware market in India and presents its growth prospects. You will also learn about the key players in the industry. It also highlights the key challenges facing the market. Here are the key takeaways from this article: Before diving into the competitive landscape, you should have a thorough understanding of the market. You can use this information to plan your business strategy. Listed below are the key elements that determine the growth prospects of the ceramic sanitaryware market in India.
To understand the competitive landscape, it is important to know the key segments of the Indian Ceramic Sanitaryware market. The market is segmented by regions, including the North, South, East, and West. The market for sanitary ware is expected to grow at a CAGR of 11.8% over the forecast period. The major market players are expanding their capacity to meet the growing demand for the product. Orient Ceramics the Sanitary ware exporters and manufacturers in India, for instance, plans to expand its sanitary ware portfolio across the country by the end of next year. Our company as a Sanitaryware exporter India has reported huge revenue last year and expects the sanitary ware segment to contribute 400 crores in revenues within the next three to four years.
The commercial segment of the Ceramic Sanitaryware India market is growing at the highest rate, primarily due to the hospitality industry. Luxury ceramic sanitary wares are in great demand in hotels, resorts, and villas. Meanwhile, in urban areas, home renovation is a major trend. This boosts property value as well as functionality. As a result, ceramic sanitary wares are used in interior and exterior spaces.
The ceramic sanitary ware market is segmented according to product, application, and region. Washbasins are the most popular products, with the highest growth rate. The market is further segmented by the pedestal, wall-hung, tabletop, and corner segments. Infrastructural projects and tourism are the other major factors driving the market. To ensure the growth of the ceramic sanitary ware industry, it is vital to identify key trends and factors driving the growth of this sector.
The ceramic sanitary ware market is segmented by end-use. The commercial segment comprises products for luxury and high-end sanitary facilities. Other segments include ceramic bathtubs and renovation. The ceramic sanitary ware market is expected to grow rapidly owing to increased awareness and adoption of ceramic products among consumers.
North America dominates the ceramic sanitary ware market. The trend of buying luxury sanitary products has increased the demand for high-quality sanitary products. The Asia-Pacific region is expected to grow at the fastest rate during the forecast period of 2022–2028. Increased infrastructure development and increasing awareness of luxury products are expected to fuel the growth of the market in this region. Moreover, key players in the region like Orient Ceramics one of the leading sanitary ware manufacturers in India are expected to introduce new products and services to stay competitive in the market.
Changing consumer preferences have driven the development of luxury sanitary ware in emerging countries. Increased disposable income and increased demand for luxury sanitary ware in the commercial sector are further driving growth.
The global market for sanitary ware and tiles is growing rapidly with the emergence of advanced healthcare technologies. Growing investments in the residential and commercial sectors have fueled demand for ceramic-based products. Besides sanitary ware, this industry also includes bio-implants and tiles. Additionally, the growing demand for ceramic implants has been bolstered by increasing improvements in medical technology. Hence, the ceramic industry is expected to flourish in India in the coming years.
To meet the growing demand for sanitary ware, many major manufacturers have increased their capacities. Orient Ceramics as Sanitary ware producer in India has recently expanded its sanitary ware capacity and is targeting to achieve a pan-India presence by next year.
Rapid urbanisation and industrialization are two key factors driving the growth of this market in India. Further, the increasing number of renovation projects in residential areas is expected to spur the demand for ceramic sanitary ware. In addition, many leading companies in the ceramic industry have launched premium sanitary wares recently.
International companies are already establishing themselves as leaders in their respective industries. The industry is experiencing strong growth in India. The market for ceramic sanitary ware in India is segmented according to product type and end-use. In the residential segment, the demand for luxury sanitary ware is high in hotels, resorts, and villas. In urban areas, renovations are rampant as they improve the functionality of homes and add value to the property. For these reasons, ceramic sanitary ware is now also used on the exterior of homes.
The demand for ceramic sanitary ware in India is anticipated to rise over the next few years. Amongst the key factors supporting the growth of the industry are rising per capita disposable incomes and rapid urbanisation. Moreover, the government has been focusing on the manufacturing sector, liberalising policies and providing incentives to boost the sector. Rising demand in the region will ultimately benefit the industry.
Awareness about hygiene has boosted the growth of the ceramic sanitary ware market in developing countries. And, multiple government initiatives have been launched to raise awareness of personal hygiene amongst the population. As a result, approximately 45% of the global population used a safe sanitation service in 2021, with this number expected to grow in the coming years. The demand for sanitary wares is expected to grow at an even faster pace in emerging markets like India.
The ceramic sanitary ware market in India is highly fragmented. Some vendors are expanding their manufacturing capacities overseas and launching differentiated products to maintain their share of the market. And this has not limited growth prospects in India, and it is likely to be highly profitable in the future. Companies such as Orient Ceramics as Sanitary ware exporter in India are poised to benefit from the increasing demand.
While floor tiles are the dominant product in the Indian tile market, faucets are also the most popular. Increasing awareness about health has prompted the growth of bathroom fixtures in India. In addition to improving hygiene, increasing disposable income is driving the demand for ceramic tiles and sanitary ware in India. The demand for ceramic sanitary ware in rural areas is particularly high. But the market must be affordable and accessible for these communities to take advantage of it.
In addition to manufacturing products, the market for ceramic sanitary ware includes other components such as bathroom furniture. The commercial sector is the fastest-growing segment. Luxury ceramic sanitary wares are in demand in hotels, resorts, and villas. Renovation of homes is also a popular trend, aimed at improving functionality and property value. Ceramic sanitary wares are used on both the interior and exterior of houses.
The ceramic sanitary ware industry is heavily dependent on imports and exports. While imports of sanitary ware products are high, domestic manufacturers have been able to penetrate foreign markets through increased exports. Also, the target consumer base is growing steadily. With increased consumer spending capacity, the market is likely to see a revival soon. The following sections explore the competitive landscape of ceramic sanitary ware in India.
The competitive landscape of ceramic sanitary ware in India has been evolving over the past decade. In 2022, the market is expected to grow at a significant CAGR of a significant percent in terms of value. The market is segmented by product type, technology, and end-user. By application, the market is segmented by pedestals, wall-hung, tabletop, and corners. Furthermore, it is expected to grow at a rapid pace during the forecast period.
The market for ceramic sanitary ware in India is seg.mented by product. The toilet sink/water closet segment accounts for the largest share. Government investment in sanitary ware is driving demand for sanitary ware. In India, initiatives such as Swatch Bharat Abhiyan have improved the quality of public restrooms. However, the competitive landscape remains complex. As a result, there is a wide range of products available to meet the needs of the end users.