Tile Backer Market REPORT OVERVIEW
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The global tile backer market size was 2330.3 million in 2022 and market is projected to touch USD 3250.4 million by 2031, exhibiting a CAGR of 3.8% during the forecast period.
The COVID-19 pandemic has been unprecedented and staggering, tile backer experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.
To waterproof attach tiles on walls or floors, the advance material boards have been utilized. These terms offer underfloor heating systems superior heat insulation. They also guard the floor against water absorption. The advance material boards strengthen the bond between tiles and walls and provide adhesion protection. The advance material boards are frequently employed in the building sector.
Due to their numerous physical features, including dimensional stability, fire resistance, and decay resistance, they are also used in the construction of commercial buildings in addition to residential housing demands. Additionally, these boards have strong mechanical qualities.
COVID-19 Impact: Reduced Supply of the Material to Deplete Market Advancement
COVID-19 pandemic rapidly spread around the world, causing serious health, financial, and social difficulties for everyone. The lockdown has significantly impacted worldwide economic activity; some businesses have scaled back operations or shut down; and the number of job losses is rising. Along with manufacturers, the agricultural sector, the food industry, education, the sports business, and the entertainment sector, suppliers of services are also impacted. The market growth has also been disrupted by the COVID-19 pandemic. Owing to the technological advancement and research and developmental activities the market will proliferate during the anticipated timeframe.
LATEST TRENDS
"Application in Residential Sector to Stimulate Market Development "
In terms of usage, in 2018, the residential sector dominated the worldwide tile backer board market. In the home market, the advance material are employed to waterproof attach tiles on walls or floors. The plywood and plasterboard panels are excellent candidates for use with the advance material. Additionally, these boards have great sound-insulating qualities, which eliminate the requirement for a jigsaw. Tile backer planks are sturdy, enduring, rot-proof, lightweight, and reasonably priced. These are additional advantages of tile backer boards.
Tile Backer Market SEGMENTATION
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- By Type
Based on type; the market is divided into cement backer board, gypsum backer board, foam tile backer boards
Cement backer board is the leading part of the type segment.
- By Application
Based on the application; the market is divided into residential, commercial
Residential is the leading part of the application segment.
DRIVING FACTORS
"Demand for Ceiling Tiles to Aid Market Expansion "
Due to the rising demand for tiles for the ceiling in business establishments, it is anticipated that the usage of tiles for ceiling would increase significantly. The rising demand for buildings that are energy-efficient and environmentally friendly construction methods across a variety of end-use categories, including the industrial, institutional, residential, and consumer sectors, has been identified to be a key driver of the advance material market expansion.
"Expanding Trend of Using Floors to Foster Industry Progress"
One of the key elements boosting demand for the advance material is the expanding trend of using floors. Over the past few years, it has been noticed that the growth of the market has been driven by an increase in building and renovation activities across a variety of end-use segments, including commercial, organizational, industrial, and residential locations. Due to environmental issues and growing awareness of eco-friendly building materials, the use of tiles on walls has seen a decline in market share overall. As a result, consumers are increasingly opting for the advance material boards that offer buildings thermal insulation in addition to fire resistance.
RESTRAINING FACTORS
"Maintenance Cost to Hinder Market Advancement "
Tiles are simple to maintain, but the advance material need extra care because of their propensity to accumulate stains and mildew considering the amount of use they often see. Owing to the above-mentioned factor the tile backer market growth may be hindered during the anticipated timeframe.
Tile Backer Market REGIONAL INSIGHTS
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"Rapid Development in Asia Pacific to Support Market Advancement"
In 2018, the tile backer market was dominated by Asia Pacific. Due to the country's rapid industrialization and rising demand for the advance material in the construction and building sectors, the region is expected to be extremely profitable during the projection period. In the foreseeable future, it is predicted that India's building industry will grow about twice as quickly as China's. By 2030, the country's urban population is projected to reach 165 million, with 10.4 million more people living in New Delhi during that time. During the anticipated period, this is also anticipated to propel tile backer market shares.
The tile backer market in Asia Pacific is anticipated to expand significantly over the coming years as a result of the rise in building and renovation projects in a variety of end-use industries, including residential, commercial, along with consumer, organizational, and industrial. Customers' growing knowledge of green building methods is another aspect that is anticipated to play a significant role in this market's growth.
KEY INDUSTRY PLAYERS
"Key Players Focus on Partnerships to Gain a Competitive Advantage"
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.
The analyst provides a comprehensive picture of the market through the study, synthesis, and summarization of data from various sources, as well as an examination of important variables such as financial gain, sales prices, competition, and promotions. It identifies the key industry influencers and presents various market facets. The information provided is thorough, reliable, and the result of extensive primary and secondary research. The market report provides a comprehensive competitive landscape as well as an in-depth vendor evaluation methodology and analysis based on both qualitative and quantitative studies to accurately forecast market growth.
The reports cover important advances with in market, as well as inorganic and organic growth strategies. Various companies are concentrating on organic business expansion such as product announcements, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were among the inorganic growth strategies observed in the market. The above activities have paved the way for market participants to expand their business and customer base. With the growing demands for filter products in the international market, market participants in the market are expected to benefit from substantial growth opportunities in the near future.
List of Market Players Profiled
- James Hardie (Ireland)
- Georgia-Pacific (U.S.)
- Knauf (Germany)
- Saint-Gobain (France)
- National Gypsum (U.S.)
- Johns Manville (U.S.)
- Allura (U.S.)
- Schluter (Germany)
- Custom Building Products (U.S.)
- WEDI (Germany)
- Laticrete (U.S.)
REPORT COVERAGE
This research offers a thorough analysis of the global market, covering all relevant areas. This includes everything from a broad market overview to micro-level information about size of the market, degree of competition, evolution trend, opportunities in the market, important market drivers, and SWOT opportunities and threats. The reader can use the study to influence industry competitiveness and competitive environment strategies to increase potential profit. Additionally, it offers a straightforward framework for assessing and gaining access to the situation of the corporate organization.
In a nutshell, this study should be read by all market participants, traders, academics, analysts, business planners, and anyone else with an interest in the market. The market competitive landscape is another area that the report structure focuses on. This report presents in depth information the share of the market, macroeconomic indicators, product scenario, operation circumstances of the major players, which aids readers in the industry in recognizing the key rivals and better understanding the market's competitive landscape.
REPORT COVERAGE | DETAILS |
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Market Size Value In |
US$ 2330.3 Million in 2022 |
Market Size Value By |
US$ 3250.4 Million by 2031 |
Growth Rate |
CAGR of 3.8% from 2022 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the tile backer market expected to touch by 2031?
The global tile backer market size is expected to reach USD 3250.4 million by 2031.
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What CAGR is the tile backer market expected to exhibit by 2031?
The tile backer market is expected to exhibit a CAGR of 3.8% by 2031.
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Which are the driving factors of the tile backer market?
The driving factors of the tile backer market are demand for ceiling tiles and expanding trend of using floors.
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Which are the key players or most dominating companies functioning in the tile backer market?
James Hardie, Georgia-Pacific, Knauf, Saint-Gobain, National Gypsum are the key players or most dominating companies functioning in the tile backer market.