New York /PRNewswire/ – Bolstered by strong growth in the residential and construction markets as well as innovations in design, the U.S. ceramic tile market is expected to continue its healthy growth spurt with an anticipated value topping $3 billion in 2010. Heavy hurricane damage and a surge in renovation and remodeling activities also increased demand, helping the 2005 supply grow by 9 percent over 2004 according to Ceramic Floor and Wall Tiles in the U.S., a new report from market research publisher SBI, a division of MarketResearch.com.
SBI projects the market will continue to see annual increases in value due in part to continued growth in the non-residential construction sector as well as the current boom in kitchen and bath remodeling. Kitchen remodeling for owner-occupied properties, for example, grew at a CAGR of 46 percent from 2001 to 2005 with kitchen remodeling expenditures reaching $23 billion in 2005 and contributing greatly to the ceramic tile pot.
At the same time, the popularity of tiles as an affordable alternative to other floorings, such as hard wood, has increased as manufacturers continue to innovate with bolder colors, exotic patterns and unusual shapes, larger tiles, and tiles resembling natural materials, such as wood, stone, textiles, and even animal skins.
"Consumers are falling in love with tiles because besides their aesthetic appeal, they are affordable, moisture-resistant, maintenance-free, and resistant to bugs and termites," notes Tatjana Meerman, managing editor of SBI. "We expect the market to continue its growth pattern. However, it will continue to be extremely competitive as domestic manufacturers struggle to keep market share and margins in the face of growing pressures from low-cost imports."
Containing comprehensive data on U.S. shipments, imports and exports, end-use markets, purchaser demographics, and the competitive environment, Ceramic Floor and Wall Tiles in the U.S. identifies key issues and trends affecting the marketplace, and profiles major marketers along with manufacturer and retailer strategies.
Information about obtaining a copy of this report is available from SBI by clicking: www.sbireports.com/Ceramic-Floor-Wall-1281509. It is also available at MarketResearch.com.
About SBI
SBI, a division of MarketResearch.com, publishes research reports in the industrial, construction, materials and consumer goods markets. For more information visit www.sbireports.com, or contact Tom Ehart at tehart@marketresearch.com.
Source: SBI