South Korea Ceramic Tiles Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The COVID-19 pandemic had a significant effect on the construction sector, which is sensitive to Economic cycles. This had a direct effect on the disruption in the demand for the ceramic tiles.COVID-19 has slowed the production of these ceramic tiles due to lack of labour and country wide lockdown. This has depleated the demand of Ceramic Tiles in South Korea.

South Korea is predicted to be the key revenue pocket of the Asia-Pacific region over the coming years. Ceramic tile is commonly used in the construction of various buildings, such as housings, offices and schools. Rising preference for marble floors along with replacement of metal slabs, paints, and home decorative items with ceramic tiles are expected to boost the growth of the market. Government initiatives to propel infrastructure growth, rising per capita income, foreign investment, and increasing population are few of the factors predicted to benefit construction industry, consequently stimulating ceramic tiles market size.

Key Market Trends

Commercial Sector is Driving the Market

Ceramic tiles find significant applications in residential and commercial sectors. Ceramic tiles provide aesthetic look to commercial structures like workplaces, shopping malls, and airports. The design, colour, shape, and size of these tiles can be manipulated according to the preference of the costumers. Increasing population density in urban areas coupled with rising investment in commercial projects has been increasing the demand for ceramic tiles Due to the increase in modernisation and urbanisation in these areas the commercial population is expecting a more modern touch to the ceramic tiles which can be possible by spray drying, frying etc.The development of new products and hassle-free installation techniques have considerably driven the ceramic tiles market in commercial flooring. Rising demand for highly durable and cost-efficient ceramic flooring for use in high-traffic commercial sector projected to drive the market over the forecast period.

Replacement and Renovation Segment is Driving the Market

Ceramic tiles are a good replacement for several flooring materials such as concrete, marble, carpet, wood, rugs, etc. Increasing spending on renovation activities to improve appearance of walls and floors is predicted to fuel the demand for ceramic tiles applications in residential replacement sector. Ceramic tiles are extensively used in kitchens owing to their ease of cleaning and aesthetic appeal.

Competitive Landscape

South Korea Ceramic tiles Martket is moderatly fragmented in nature. In terms of market share, some of the major players currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping new markets.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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