Construction Industry to Impact Growth of Ceramic Machinery Market
The global ceramic machinery market is expected to grow at a CAGR of close to 7% from 2016-2020.
The global ceramic machinery market is expected to grow at a compound annual growth rate (CAGR) of close to 7% from 2016-2020, according to a recent report from Technavio. Heavy industry analysts highlight the following three factors that are contributing to the growth of the global ceramic machinery market: adoption of programmable logic controller (PLC) based systems, upward trends in end-user industries, and augmented demand for ceramic tile.
Like any other manufacturing industry, the ceramic industry has benefited from the latest trend of industrial automation. Automation has been incorporated in the entire ceramic manufacturing process, from raw material preparation to glazing lines. For instance, belt conveyors and vibrating sieves are being used in raw material preparation in place of traditional methods, which required human monitoring. Hydraulic presses enabled with automated control systems are widely being used to provide continuous, stable and efficient performance.
“These automation techniques have reduced human intervention and increased the production cycle time, which is being driven by the demand for innovative products, both in end products and the machine equipment,” said Gaurav Mohindru, lead analyst for engineering tools research.
The demand for ceramic sanitaryware products depends heavily on the construction sector, as these products form a major component in residential and commercial buildings. The global construction industry is forecast to be valued at $10 trillion by 2020, recording an annual average growth rate of 3.4% during the forecast period. The hotel industry is also a large-scale market for ceramic dinnerware and sanitaryware. The global hotel industry saw healthy growth in 2015, with strong growth recorded in Asia-Pacific, and North and South America. It is believed that the hotel industry will continue to grow throughout the forecast period due to positive average GDP increases and rising disposable incomes in countries like China and India. Growing hotel industry revenues will lead to increased demand for ceramic products and the market for ceramic machinery during the forecast period.
Ceramic tile are a major end-use product of ceramic machinery. The market for ceramic tile is expected to witness tremendous growth over the forecast period. The growth will primarily be driven by increasing worldwide construction activities. The consumer desire to renovate or refurbish the interiors of buildings by replacing paint, marble floors, metal slabs, and other decorative materials with ceramic products will also add to the demand for ceramic tile. The growing market for ceramic tile will, in turn, add impetus to the global ceramic machinery market during the forecast period.
For more information, visit www.technavio.com.
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