COVID-19 IMPACT SURVEY MAY 2020
Amid the COVID-19 crisis and the looming economic recession, the Vitrified Tiles market worldwide will grow by a projected US$1.4 Billion, during the analysis period, driven by a revised compounded annual growth rate (CAGR) of 2.6%. Residential, one of the segments analyzed and sized in this study, is forecast to grow at over 2.9% and reach a market size of US$5.9 Billion by the end of the analysis period. An unusual period in history, the coronavirus pandemic has unleashed a series of unprecedented events affecting every industry. The Residential market will be reset to a new normal which going forwards in a post COVID-19 era will be continuously redefined and redesigned. Staying on top of trends and accurate analysis is paramount now more than ever to manage uncertainty, change and continuously adapt to new and evolving market conditions.
As part of the new emerging geographic scenario, the United States is forecast to readjust to a 1.5% CAGR. Within Europe, the region worst hit by the pandemic, Germany will add over US$31.3 Million to the region's size over the next 7 to 8 years. In addition, over US$34.6 Million worth of projected demand in the region will come from Rest of European markets. In Japan, the Residential segment will reach a market size of US$315.8 Million by the close of the analysis period. Blamed for the pandemic, significant political and economic challenges confront China. Amid the growing push for decoupling and economic distancing, the changing relationship between China and the rest of the world will influence competition and opportunities in the Vitrified Tiles market. Against this backdrop and the changing geopolitical, business and consumer sentiments, the world's second largest economy will grow at 5.3% over the next couple of years and add approximately US$478.3 Million in terms of addressable market opportunity. Continuous monitoring for emerging signs of a possible new world order post-COVID-19 crisis is a must for aspiring businesses and their astute leaders seeking to find success in the now changing Vitrified Tiles market landscape. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.
Competitors identified in this market include, among others, Asian Granito India Ltd.; Casalgrande Padana S.p.A.; Cedasa Industria E Comercio De Pisos Ltda; Ceramic Industries Ltd.; Ceramiche CCV Castelvetro S.p.A.; Ceramiche Coem; Cerindustries S.p.A.; Cooperativa Ceramica d'Imola S.C.; Crossville, Inc.; Del Conca USA, Inc.; Dongpeng Holdings Co., Ltd.; Dynasty Ceramic Public Company Limited; Eagle Roofing Products; Emilgroup; Fincibec Spa; Finfloor (Pty) Ltd.; Florida Tile, Inc.; Florim Ceramiche SpA; Foshan Jinduo Ceramic; Gambini Group S.p.A.; Gold Art Ceramica SpA; Granitifiandre SpA; Granito Forte SpA; Gruppo Ceramiche Gresmalt SpA; Gruppo Ceramiche Ricchetti SpA; Gruppo Concorde SpA; Gruppo Romani S.p.A. Industrie Ceramiche; Guang Dong Wonderful Ceramics Corporation Ltd. (Marco Polo); Guangdong Bode Fine Building Material Co., Ltd.; Guangdong Winto Ceramics Co., Ltd.; H & R Johnson; Hangzhou Nabel Group Co., Ltd.; Industrie Ceramiche Piemme S.P.A.; Interceramic; Internacional De Ceramica S.A. de C.V. (Interceramic); Iris Ceramica SpA; Italgraniti Group SpA; Kajaria Ceramics Ltd.; Kale Holding A.S.; Keraben Grupo SA; La Fabbrica S.p.A.; Laminam SpA; Lasselsberger GmbH; Marca Corona SpA; Monalisa Tiles; Mulia, Inc.; Murudeshwar Ceramics Ltd. (Naveen Tiles); New Pearl Vitrified Pvt. Ltd.; Nitco Ltd.; Novabell SpA Ceramiche Italiane; Oasis Vitrified Pvt.Ltd.; Opera Group S.r.l.; Orient Bell Ltd.; Pamesa Ceramica SL; Panaria Ceramica; PORCELANOSA Group; Portobello S/A; Prism Cement Ltd.; PT Arwana Citramulia Tbk; Restile Ceramics Limited; RoCA Group; Rondine S.p.A.; Rovese SA; Saudi Ceramics; Savoia Canada Inc.; Simpolo Vitrified Pvt., Ltd.; Somany Ceramics Ltd.; StonePeak Ceramics Inc.; SUNHEAT International; Swastik Tiles; Tile Tidy; Varmora Granito Pvt., Ltd.; Vitromex; White Horse Ceramic Industries Sdn. Bhd.