The Global Sanitary Ware Market to Acquire $15937.56
Million in Revenue by 2028
According to Triton's report, the global sanitary ware market, which acquired $9495.14 million in 2019, is predicted to observe growth at 5.92% of CAGR by 2028.
A recent study by Triton Market Research titled ‘Global Sanitary Ware market’ entails the Global Analysis and Forecasts by Product Type (Pedestals, Cisterns, Toilet Sinks/Water Closets, Wash Basins), Distribution Channel (Wholesale Distribution, Retail Distribution), Material (Ceramic, Acrylic Plastic and Perspex, Pressed Metal, Others), Location (Residential, Commercial), and by Geography (Middle East and Africa, Latin America, North America, Asia-Pacific, Europe).
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Triton’s research report estimates that the global sanitary ware market is anticipated to develop at a CAGR of 5.92% and 4.99% based on revenue and volume, respectively, during the projected period of 2019-2028. It is expected to attain revenue worth $15937.56 million by 2028.
The sanitary ware market report primarily focuses on multiple type, such as wash basins, cisterns, water closets, and others. There have been frequent changes observed in the sanitary ware basins and closet designs to adapt to the modern trends.
The sanitary ware industry is expanding due in part to the abundance of raw materials that are readily available and the rise in building activity in developing nations. Because of the significant economic growth in developing nations like China and India, there has been a noticeable shift in the building sector, which has increased demand for sanitary ware. The need for housing and commercial infrastructure is also anticipated to increase due to population growth, which will accelerate the growth of the sanitary ware industry. However, the development of the sanitary ware market is being severely hampered by changes in the cost of raw materials and environmental concerns.
The product type, distribution route, material, and location segments of the sanitary ware market are the main divisions. The product type is divided further into water and pedestal toilets, cisterns, and toilet sinks.
Globally, Asia-Pacific is expected to become the fastest-growing market for sanitary ware during the considered years. The numerous initiatives by government authorities in developing economies, such as India, are anticipated to drive the growth of the sanitary ware market. In India, the sanitary ware market has witnessed tremendous growth owing to initiatives like ‘Swachh Bharat Abhiyan.’ Additionally, consumers in these countries are spending more on bathroom remodeling, which is further expected to increase the average expenditure cost on bathrooms during the evaluated phase. Hence, efficient government initiatives and rising consumer spending are influencing the growth of the sanitary ware market.
Laufen Bathrooms AG, Duravit AG, Corona, Fortune Brands Home & Security Inc, Toto Ltd, Elkay Manufacturing Company, Cera Sanitary ware Limited, Masco Corporation (Delta Faucet Company), Lixil Group Corporation, Jaquar Group, Roca Sanitario SA, HSIL Limited, Geberit AG, Lecico Egypt, and Kohler Co are established players competing in the market.
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Question & Answer: Sanitary Ware Market
Question 1: What aspects are propelling the growth of the sanitary ware market market?
Answer: The availability of abundant raw materials and the surge in the construction activities in the developing countries, are aspects that are propelling the growth of the sanitary ware market.
A shift in the construction industry has been observed due to the major economic development in emerging economies such as India and China, enhancing sanitary ware demand. Furthermore, population growth is another factor that is expected to augment housing and commercial infrastructure demand, expanding the sanitary ware market’s development.
Question 2: What factors are weighing down the sanitary ware market’s progress?
Answer: The fluctuations in the raw material prices and environmental concerns, are significantly weighing down the sanitary ware market’s progress.
Question 3: Which region is expected to become the fastest-growing in the sanitary ware market?
Answer: Globally, Asia-Pacific is expected to become the fastest-growing market for sanitary ware during the considered years. The numerous initiatives by government authorities in developing economies, such as India, are anticipated to drive the growth of the sanitary ware market. In India, the sanitary ware market has witnessed tremendous growth owing to initiatives like ‘Swachh Bharat Abhiyan.’ Additionally, consumers in these countries are spending more on bathroom remodeling, which is further expected to increase the average expenditure cost on bathrooms during the evaluated phase. Hence, efficient government initiatives and rising consumer spending are influencing the growth of the sanitary ware market.
Question 4: Which are the established players competing in the sanitary ware market?
Answer: Laufen Bathrooms AG, Duravit AG, Corona, Fortune Brands Home & Security Inc, Toto Ltd, Elkay Manufacturing Company, Cera Sanitary ware Limited, Masco Corporation (Delta Faucet Company), Lixil Group Corporation, Jaquar Group, Roca Sanitario SA, HSIL Limited, Geberit AG, Lecico Egypt, and Kohler Co are established players competing in the market.
Related Report:
Global Advanced Glass Market
The global advanced glass market is likely to display growth in its revenue and volume during 2019-2028 at a CAGR of 5.14% and 4.36%, respectively. It is expected to attain revenue worth $86.05 billion by 2028.
Factors such as a rise in urbanization, growth in demand for advanced glass in several end-user industries, and rapid growth in the construction sector are augmenting the advanced glass market's growth worldwide. Furthermore, the wide range of designs and the impact of government rules and regulations, are opening multiple opportunities for the studied market's expansion.
Although, the volatile raw material prices and the impact of glass production on the environment are a set of restraining factors impacting the evolution of the advanced glass market during the forecast period.
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