Glass Tiles Market Overview
Glass Tiles
Market size is forecast to reach US$69.9 billion by 2026 and is growing at a CAGR of 6.4% during
COVID-19
Impact
Due to the COVID-19
pandemic, the Glass Tiles Market was highly impacted. Most of the manufacturing
plants of glass tiles were shut down, which declined the production of glass tiles.
Also, due to supply chain disruptions such as raw material delays or
non-arrival, disrupted financial flows, and rising absenteeism among production
line staff, OEMs have been forced to function at zero or partial capacity,
resulting in lower demand and consumption for glass tiles. However, with gradual
lockdown relaxations, manufacturers started operating with minimum workforce
abiding by necessary COVID-19 norms. The Building and Construction works gradually
started across the globe. The Glass Tiles Market is expected to overcome the small
economic disruption and further grow in the forecast period.
Glass Tiles Market Report Coverage
The report: “Glass Tiles Market – Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of Glass Tiles Market.
By Type: Smalti Glass Tile, Fused Glass Tile, Sintered Glass Tile, Cast
Glass Tile, Slumped Glass Tile, Etched Glass Tile, Others.
By Application: Residential(Row Homes, Independent House,
Large Apartments), Non Residential (Office Building, Retail Store, Hospitals,
Schools, Restaurants, Airports, Super Market, Hyper Market, Others).
By Geography: North
America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy,
Netherlands, Spain, Russia, Belgium, and Rest of Europe), Asia-Pacific (China,
Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan,
Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile,
and Rest of South America), Rest of the World (Middle East, and Africa)
Key Takeaways
- Asia Pacific dominates the Glass Tiles Market, owing to the increasing construction activity and urbanization in the region.
- In the construction industry, a new expenditure and finance pattern has been detected. Construction activity will transition away from nonresidential structures and toward infrastructure, followed by residential developments in the long run. In Asia, funding structures are changing as well, with a rise in the use of private capital, including public-private partnerships.
- To counteract the economic impact of the COVID-19 pandemic and enhance long-term growth, China recently launched the “New Infrastructure” campaign. The focus of “New Infrastructure” activities will be 5G networks, industrial internet, inter-city transit and inner-city rail systems, data centers, artificial intelligence, ultra-high voltage, and new energy car charging stations.
- According to Invest India, Under NIP (National Infrastructure Project) India has an investment budget of US$1.4 trillion on infrastructure of which 24% on renewable energy, 19% on roads & highways, 16% on urban infrastructure, and 13% on railway. Due to the growth of construction industry growth globally the Glass Tiles Market is going to grow in the forecast period.
Figure: Asia Pacific Glass Tiles Market Revenue,
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Glass Tiles Market Segment Analysis – By Type
Fused glass tile segment held the largest share of 36% in the Glass Tiles Market in 2020. Whole pieces of glass are fused together in a kiln at temperatures ranging from 1100 to 1500 degrees Fahrenheit to create fused glass tiles. The bigger the physical shift in the glass, the higher the temperature. The majority of modern fusing techniques involve stacking and layering thin sheets of glass. To successfully fuse glass, it is necessary to use glasses that expand at the same rate when heated; otherwise, the glass may break apart over time. Fused glass tiles are ideal for a variety of applications, including kitchen backsplashes, dining room walls, bathroom showers, and more. They can be placed anywhere in the home or company to bring beauty and originality. Black and white fused glass accent tiles are available in a number of strong, vibrant colors, as well as transparent, semi-transparent, and opaque forms. Due to the durability and vast use of fused glass tiles, the Glass Tiles Market is projected to grow in the forecast period.
Glass Tiles Market Segment Analysis – By Application
Residential segment held the largest share in the Paraffin Market in 2020 and is growing at a CAGR of 10.2% during 2021-2026. According to U.S. Census Bureau construction spending during June 2021 was estimated at a seasonally adjusted annual rate of US$1,552.2 billion from which residential construction spending was seasonally adjusted at annual rate of US$763.4 billion. Global construction market's growth include rapid technical breakthroughs in infrastructure development and rising demand for environmentally friendly buildings with low carbon footprints. Another factor projected to drive construction market growth is improving economic conditions in developing countries, which would lead to increased consumer disposable income and government investment in public infrastructure. Hence the growth of construction sector is going to boost the growth of Glass Tiles Market in the forecast period.
Glass Tiles Market Segment Analysis – By Geography
Asia Pacific region held the largest share in the Glass Tiles Market in 2020 up to 43%. Global construction output is expected to climb by 85 % to US$15.5 trillion by 2030, according to Oxford Economics, with three countries leading the way and accounting for 57% of overall growth: China, the United States, and India. Due to developed countries' economic recovery and emerging countries' continued industrialization, the benchmark global study, the fourth in a series from Global Construction Perspectives and Oxford Economics, forecasts average global construction growth of 3.9 % per year to 2030, outpacing global GDP by more than 1% point. As the world's largest economy slows, China's share of the global construction sector will only expand modestly. In comparison, construction in the United States will grow at a greater rate than in China over the next 15 years, averaging 5% each year. Meanwhile, as India overtakes Japan to become the world's third largest building market by 2021, construction rates are likely to climb. According to Invest India, India's real estate industry is predicted to reach US$1 trillion in value by 2030, accounting for 13% of GDP. As a result of the global construction industry's growth, the Glass Tiles Market is expected to grow over the forecast period.
Glass Tiles Market Drivers
Urbanization due to increasing Population:
Urbanization is a global trend
that reflects the world's expanding population. Less-developed countries' urban
populations are growing at a quicker rate than those of more-developed
countries. Urbanization is the result of natural population growth and
rural-to-urban migration. According to UNFPA (United Nations Population Fund), the
world’s population in 2021 is 7875 million. The annual population change rate
is 1.1% on average. China's
population in 2020 was 1,411,778,724, according to the seventh National
Population Census. During the period
Increasing Industrialization aiding to growth of Industrial Construction Industry:
Industrialization has traditionally resulted in urbanization by generating economic growth and job possibilities, which attract people to cities. These technological hubs, like factories in the past, attract people from distant places, contributing to urbanization. The use of mechanization and automation in industrialized construction (IC) supports the advancement of construction operations. The industrialization of construction has numerous goals, including boosting labor productivity, replacing labor-intensive processes with machines, speeding up construction, commissioning new projects more quickly, lowering costs, lean construction, and adding augmented reality (AR).As technology changes how we design, manufacture, and assemble, industrialization is a significant trend of scientific and technical improvement in construction. By 2035, it is expected that the bulk of buildings would be built using IC for manufacture and construction. As a result of the increase in industrial building, the Glass Tiles Market is expected to expand over the forecast period.
Glass Tiles Market Challenges
High cost of glass tiles and difficulty in the installation process:
According to
Original Mission Tile, the cost of mosaic glass tiles is one of the most
significant disadvantages. It may discover a bargain forUS$10
per square foot. Most expensive ones lie somewhere in the range of US$20 and US$30
per square foot, with very good quality choices going up to US$50 per square
foot. For a single square foot of
design, repeating patterns can cost up to US$100. Glass mosaics are harder to
install than ceramic or real stone tiles. The adhesive will show through the
tile if you aren't careful. It's best to engage a professional who works with
glass mosaics experienced with placing tile. The expense of purchasing,
installing, and repairing glass mosaic tile flooring is high. Scratches on its
surface might ruin the aesthetic of the tiles over time, necessitating their replacement. Hence
these factors can restrict the growth of
the Glass Tiles Market.
Glass Tiles Market Landscape
Technology launches, acquisitions,
and R&D activities are key strategies adopted by players in the Glass Tiles Market. Glass
Tiles Market top companies are
1 Marazzi
2)Villi USA
3) Saint Gobain
4) Arizona Tiles
5) American Olean
6) Bellavita Tile Inc.
7) Dal Tile Group Inc.
8) Emser Tile LLC
9) Fireclay Tile Inc
10) Sonoma Tile makers Inc.
Acquisitions/Technology Launches
On 21st January 2021,Saint-Gobain India Pvt. Ltd. and Gyproc launched its first manufacturing facility for ceiling tiles in India to broaden its base in this market along with facilitating investments, fostering innovation & supporting skill development in the country.
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