Cost, Performance To Drive Ceramic Flooring Demand

Global demand for ceramic flooring is forecast to rise 2.8 per cent per year to 8.8 billion square metres in 2024, says a report by the Freedonia Group. Drivers for growth include favourable performance properties and aesthetics, supporting its application in a wide range of end uses; low cost compared to broadloom carpeting and luxury vinyl tile; and wide availability in fast-growing, developing markets. Ceramic tile flooring already has extensive market penetration worldwide, leaving limited potential for market share growth. However, the relatively high concentration of demand in fast-growing developing markets will provide substantial opportunities for sales gains. In addition, despite the basic nature of ceramic tile flooring, technological advances for these products continue to be made. For example, sales of ceramic flooring have been bolstered by advances in digital printing, which have improved the ability of ceramic tile to convincingly mimic the look of higher end materials such as hardwood and marble.