Sanitary Ware Market Expected to Reach US ~$19.80 Billion and CAGR 5.1% by 2030 – Polaris Market Research
The global Sanitary Ware Market size is expected to reach USD 19.80 billion by 2030 according to a new study by Polaris Market Research.
There major propelling factors are increasing concern regarding health & hygiene, adequate availability of the raw materials for the product manufacturing is augmenting the industry growth.
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In addition, the exponential growth of the construction industries majorly in emerging nations such as India, China, Australia, Saudi Arabia, Brazil, and many others are further associated with the industry development. Moreover, increasing urbanization, rising inclination toward a healthy lifestyle, and rising disposable income & standard of living also bring the upsurge in the industry demand.
The ceramic segment is dominating the global industry with the highest revenue shares based on material. It offers the maximum hygiene standards as it is easy to clean and has a smooth surface. Numerous cleaning fluids and strong chemical acids hardly affect this material; thereby, these properties of the ceramic are leading the segment growth around the world.
Whereas, the pressed metal segment is showing the highest CAGR rate that leads the industry demand owing to the pressed metal presents several benefits such as high durability, more hygiene, and being pocket-friendly in comparison to acrylic materials.
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The growing awareness among the population for maintaining health & hygiene is the major driving factor for the industry growth. In addition, governments are also encouraging and supporting individuals with proper sanitation facilities.
For instance, the In Indian government initiated several initiatives for infrastructural development, such as Pradhan Mantri Awas Yojana (PMAY) and Swachh Bharat Mission for urban and rural areas. Thereby, these factors are creating various lucrative opportunities for industry growth in the upcoming years.
Market participants such as CERA Sanitaryware Limited, Cersanit, Creavit, Delta Faucet Company, Duravit AG, Geberit AG, H & R JOHNSON, Hansgrohe, Hindware Homes, HSIL Limited, Ideal Standard Ltd, Jaquar, Kohler Co, LAUFEN Bathrooms AG, Lecico Egypt, LIXIL Corporation, Roca Sanitario, S.A., Saudi Ceramics, Shanghai Aquacubic Sanitaryware Co., Ltd., TOTO LTD, and Villeroy & Boch are some of the key players operating in the global industry.
The rising strategic initiatives such as mergers & acquisitions, product launches, and others by the prominent industry players are also supporting the global industry development. For instance, in June 2021, the Roca Group acquired Sanit- a German-based concealed cisterns and built-in installation systems manufacturing company. This acquisition aims to strengthen the product portfolio of the Roca Group by integrating products into complete bathroom solutions and incorporating high value-added.
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Polaris Market Research has segmented the sanitary ware market report on the basis of materials, product type, and region:
Sanitary Ware, Material Outlook (Revenue – USD Billion, 2018 – 2030)
- Pressed metal
- Acrylic plastics & Perspex
Sanitary Ware, Product Type Outlook (Revenue – USD Billion, 2018 – 2030)
- Toilet sink/water closet
Browse detailed report with in-depth TOC – Sanitary Ware Market
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