January 03, 2022
According to the research report titled, ‘Global Sanitary Ware Market Size study, by Material (Ceramic, Pressed Metal, Acrylic Plastic & Perspex, and Others), Product Type (Toilet Sink/Water Closet, Wash Basin, Pedestal, and Cistern) and Regional Forecasts 2021-2027,’ available with MarketStudyReport, global sanitary ware market is anticipated to amass notable gains during 2021-2027.
Increasing awareness regarding the various health and hygiene benefits and unique designs of the product, escalating demand for smart home appliances, and surging expenditure on construction activities are propelling the growth of global sanitary ware market. As per Statista, global construction industry spending is expected to jump from USD 12 trillion in 2019 to USD 14.8 trillion by 2025.
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High investments in hospitality sector, emergence of innovative products with contactless technology, and surging consumer cognizance about sanitation and importance of saving water are also augmenting the overall industry outlook.
On the contrary, high costs associated with these products is likely to impede the progression of this marketplace in the coming years.
Based on material, the industry vertical is split into pressed metal, ceramic, acrylic plastics & Perspex, and others.
In terms of product type, global sanitary ware market is bifurcated into toilet sink/ water closet, wash basin, cistern, and pedestal.
Regionally speaking, North America, Europe, Asia Pacific, and Latin America are considered to understand the dynamics of this business sphere. Asia Pacific market is projected to showcase lucrative expansion trends during 2021-2027 accreditable to increasing adoption of hygiene products, widespread adoption of luxurious lifestyle, and surging demand for artificial intelligence.
Roca Sanitario S.A., Lecico Egypt SAE, Laufen Bathrooms AG, Lixil Group Corporation, Kohler Co., The Jaquar Group, HSIL Ltd., Geberit AG, Corona Vitrified, and Sera Sanitaryware Ltd. are the leading companies operating in global sanitary ware market.
These companies are formulating various effective strategies like mergers & acquisitions, innovative product launches, research & development initiatives, collaboration deals, and partnerships to strengthen their foot hold in the overall market and garner significant revenues.