by The global India Ceramic Sanitaryware Market is estimated to be valued at US$ 4345.5936 Mn or Mn in 2023 and is expected to exhibit a CAGR of 13.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Ceramic sanitaryware offers benefits like durability, hygiene, aesthetics and sustainability. With increasing construction activities and rising disposable incomes, the demand for premium and aesthetically pleasing bathroom fittings is growing in India which is driving the ceramic sanitaryware market.
Market key trends:
One of the key trends in the India ceramic sanitaryware market is the growing popularity of functional and designer products. Manufacturers are innovating with different designs, shapes, colors and textures to appeal to modern consumers. Digitization is also influencing the market as companies are improving online and virtual shopping experiences. Furthermore, growing health and hygiene awareness among Indians is boosting demand for high-quality ceramic sanitaryware known for its non-porous surface resisting bacteria. Rising environmental consciousness is also favoring ceramic products manufactured from natural clay using sustainable processes.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate in the Indian ceramic sanitaryware market due to the requirement of high initial investments and the established brand value of existing players.
Bargaining power of buyers: The bargaining power of buyers is moderate due to the availability of varied brand options at different price ranges to choose from.
Bargaining power of suppliers: The bargaining power of suppliers is low due to the availability of substitutable raw materials supplied by different vendors.
Threat of new substitutes: The threat of new substitutes is moderate as glass and metal are viable alternatives used in bathroom fittings however ceramic remains the primary choice due to its durability.
Competitive rivalry: High due to presence of multiple domestic and international brands competing on the basis of product quality, innovative designs and strong distribution networks.
Key Takeaways
India Ceramic Sanitaryware Market Growth is expected to witness high growth, exhibiting CAGR of 13.% over the forecast period, due to increasing investments in residential and commercial construction projects across the country.
Regional analysis
The western region holds the major share in the India ceramic sanitaryware market and is expected to grow at a high rate during the forecast period. This can be attributed to rapid urbanization and rising disposable income in states like Maharashtra and Gujarat.
Key players
Key players operating in the India ceramic sanitaryware market are HSIL Ltd, Cera Sanitaryware Ltd., Roca Sanitario, S.A., RAK Ceramics, Duravit AG, Toto Ltd., Jaquar, Golf Ceramics Ltd., Kajaria Ceramics Limited, H & R Johnson, and Villeroy Boch Group. HSIL Ltd and Cera Sanitaryware Ltd account for the majority market share due to their pan India distribution network and wide product portfolio.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
