South Korea Ceramic Sanitary Ware Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Water Closets, Wash Basins, Urinals, and Others), By End-Use (Residential, Commercial, Renovation), and South Korea Ceramic Sanitary Ware Market Insights Forecasts 2023 – 2033

Industry: Consumer Goods

RELEASE DATE Jan 2024
REPORT ID SI3399
PAGES 200
REPORT FORMAT PathSoft

South Korea Ceramic Sanitary Ware Market Insights Forecasts to 2033

  • The Market Size is Growing at a CAGR of 2.8% from 2023 to 2033.
  • The South Korea Ceramic Sanitary Ware Market Size is Expected to Hold a Significant Share by 2033.

 

South Korea Ceramic Sanitary Ware Market

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The South Korea Ceramic Sanitary Ware Market Size is Expected to Hold a Significant Share by 2033, at a CAGR of 2.8% during the forecast period 2023 to 2033.

 

Market Overviews

Ceramic sanitary ware consists of sanitary fixtures and components and is made of a glass-like China body. Plumbing fixtures in this category include washbasins, shower plates, closets, toilet bowls, and bathtubs. These are primarily tri-axial compounds made up of different raw materials such as quartz, clay, and feldspar. Because they are resistant to chemicals and scratches, such as abrasion and corrosion, and have a longer shelf life, ceramic sanitary wares are more cost-effective and easier to maintain than steel and iron counterparts. It is widely used in the construction and interior design industries due to its durability, ease of maintenance, and aesthetic appeal. Ceramic sanitary ware is becoming more popular in South Korea as it helps to reduce repair and replacement costs due to its longer lifespan. Furthermore, these are customizable, offering the consumer a wide range of color and design options that cater to end-users desired functional and aesthetic requirements, making them ideal for use in a variety of commercial and residential applications. Rising living standards and income levels will propel this market forward.

 

Report Coverage

This research report categorizes the market for South Korea ceramic sanitary ware market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korea ceramic sanitary ware market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the South Korea ceramic sanitary ware market.

 

South Korea Ceramic Sanitary Ware Market Report Coverage

Report CoverageDetails
Base Year:2023
Forecast Period:2023-2033
Forecast Period 2023-2033 CAGR:2.8%
Historical Data for:2019-2022
No. of Pages:200
Tables, Charts & Figures:110
Segments covered:By Product Type, By End-User and COVID-19 Impact Analysis.
Companies Covered:CERA Sanitaryware Limited, Corona, Koalar Sanitaryware, HSIL Limited, Jaquar Group, Saturn, America Standard, Compass, Acrofluid, Roca and Other Key Vendors.
Pitfalls & Challenges:COVID-19 Empact, Challenge, Future, Growth, & Analysis

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Driving Factors

The increasing demand for modern and space-efficient bathroom solutions is currently one of the major factors contributing to market growth in South Korea. Rising real estate development projects, including residential and commercial properties, are also boosting the country's market growth. Ceramic sanitary ware products that are compatible with sustainability goals are providing lucrative growth opportunities for the country's industry investors. Accordingly, the rising popularity of smart and sensor-based bathroom fixtures among people seeking convenience and automation is driving market growth in South Korea. In addition, the introduction of aesthetically pleasing and unique ceramic sanitary ware options is driving market growth. Furthermore, the growing demand for high-quality bathroom facilities in the country's hotels, resorts, and other hospitality establishments is expected to positively influence the market.

 

Restraining Factors

Ceramic sanitary wares are prohibitively expensive for the majority of lower-middle-class people. Many people in rural areas either do not purchase ceramic sanitary wares or look for alternatives such as steel wash basins and plastic cisterns. Furthermore, raw material price fluctuations, stringent government regulations, and currency volatility all have an impact on overall demand. As such, market growth is expected to be limited overall.

 

Market Segment

  • In 2023, the water closets segment accounted for the largest revenue share over the forecast period.

Based on the product type, the South Korea ceramic sanitary ware market is segmented into water closets, wash basins, urinals, and others. Among these, the water closets segment has the largest revenue share over the forecast period. The product is in high demand because it provides basic sanitation and hygiene. Rising market player initiatives and rising product demand from residential customers will drive segment growth. The market for water closets will continue to expand due to rising consumer demand for innovative and advanced ceramic sanitary ware with aesthetic appeal.

 

  • In 2023, the residential segment accounted for the largest revenue share over the forecast period.

Based on end use, the South Korea ceramic sanitary ware market is segmented into residential, commercial, and renovation. Among these, the residential segment has the largest revenue share over the forecast period. In general, demand for ceramic sanitary ware is higher in urban areas than in rural areas. The growing trend of nuclear families has increased demand for smaller or medium-sized residential structures, which has increased demand for sanitary wares in single-family homes. Furthermore, rising consumer spending on ceramic bathtubs, as well as rising high adoption of ceramics-water closets and wash basins, have fueled market growth.

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Korea ceramic sanitary ware market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Key Companies

  • CERA Sanitaryware Limited
  • Corona
  • Koalar Sanitaryware
  • HSIL Limited
  • Jaquar Group
  • Saturn
  • America Standard
  • Compass
  • Acrofluid
  • Roca
  • Others

 

Key Target Audience

  • Market Players
  • Investors
  • End-users
  • Government Authorities 
  • Consulting and Research Firm
  • Venture capitalists
  • Value-Added Resellers (VARs)

 

Recent Development

  • In January 2021, Roca Group purchased a 75% stake in Roya Group, a bathroom manufacturer, in 2021. American Fund HIG sold 62% of the company to Roca. The Roya family may retain 25% of the firm's capital. With this acquisition, Roca had a total turnover in the bathroom manufacturing segment of more than EUR 173 million.

 

Market Segment

This study forecasts revenue at regional, and country levels from 2022 to 2033. Spherical Insights has segmented the South Korea Ceramic Sanitary Ware Market based on the below-mentioned segments:

 

South Korea Ceramic Sanitary Ware Market, By Product Type

  • Water Closets
  • Wash Basins
  • Urinals
  • Others

 

South Korea Ceramic Sanitary Ware Market, By End-use

  • Residential
  • Commercial
  • Renovation

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