Market Size of South Korea Ceramic Sanitaryware Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 3.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South Korea Ceramic Sanitaryware Market Analysis
The South Korea ceramic sanitaryware market is expected to register a CAGR of more than 3% during the forecast period. Due to the COVID-19 pandemic in 2019-2020, the market for sanitary ware products observed a decline in South Korea. With the pandemic's continued impact, South Korea's production level of ceramic sanitaryware declined.
Ceramic sanitary ware includes fixtures and components such as wash basins, closets, sinks, and bathtub components, which consist of washbasins bathtubs. With the increasing population and construction, the demand for ceramic sanitary ware is also increasing.
South Korea is expected to observe a continuous increase in its GDP, from USD 1,798.5 billion in 2021 to USD 2,300.2 billion in 2027. This GDP increase is expected to increase the income levels of people and encourage them to spend on products like ceramic sanitary ware and other items. This increased spending may boost the ceramic sanitaryware market and demand in South Korea.
South Korea Ceramic Sanitaryware Industry Segmentation
The report covers a complete background analysis of the South Korean ceramic sanitary ware market, which includes an assessment of emerging trends by segment, significant changes in market dynamics, and a market overview. The report also features a qualitative assessment by analyzing data gathered from industry analysts and market participants across various key points in the industry's value chain.
The South Korean ceramic sanitary ware market is segmented by type (water closets, wash basins, urinals, cisterns, and other types) and end user (residential and commercial). The study tracks the key market parameters, underlying growth influencers, and major vendors operating in the industry, supporting the market estimations and growth rates over the forecast period. The study also tracks the revenues of South Korean sanitary ware companies. The market sizes and forecasts are provided in terms of value (USD million) for all the above segments.
| By Type | |
| Water Closet | |
| Wash Basins | |
| Urinals | |
| Cisterns | |
| Other Types |
| By End User | |
| Residential | |
| Commercial |
South Korea Ceramic Sanitaryware Market Size Summary
The South Korea ceramic sanitary ware market is poised for steady growth, driven by increasing demand for fixtures such as wash basins, closets, sinks, and bathtubs. Despite a decline in production levels due to the COVID-19 pandemic, the market is expected to recover and expand, supported by rising population and construction activities. The economic growth in South Korea, reflected in the anticipated increase in GDP, is likely to boost consumer spending on ceramic sanitary ware products. This trend is further reinforced by the shift towards nuclear families, which is driving demand for more residential construction, including kitchens and bathrooms. However, the construction sector's recent decline poses a potential challenge to the market's growth trajectory.
South Korea's strategic position in East Asia, a leader in ceramic tile production and exports, offers significant opportunities to enhance its market share in the ceramic sanitary ware sector. The country's investment in commercial spaces and core projects is expected to further stimulate demand for these products. Major industry players, including CERA Sanitaryware Limited, Corona, and Roca, are actively expanding their global presence, with Roca's acquisition of a stake in Roya Group exemplifying this trend. Innovations such as Roca Korea's launch of the Wash In-Tank smart toilet highlight the industry's focus on integrating technology and design to meet evolving consumer needs.
South Korea Ceramic Sanitaryware Market Size - Table of Contents
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1. MARKET DYNAMICS AND INSIGHTS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Market Opportunities
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1.5 Porter's Five Forces Analysis
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1.6 Industry Value Chain Analysis
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1.7 Impact of COVID-19 on the Market
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 Water Closet
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2.1.2 Wash Basins
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2.1.3 Urinals
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2.1.4 Cisterns
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2.1.5 Other Types
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2.2 By End User
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2.2.1 Residential
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2.2.2 Commercial
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South Korea Ceramic Sanitaryware Market Size FAQs
What is the current South Korea Ceramic Sanitaryware Market size?
The South Korea Ceramic Sanitaryware Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)
Who are the key players in South Korea Ceramic Sanitaryware Market?
https://www.jaquar.com, https://kr.kompass.com, http://www.daelimbath.com, https://www.saturn.co.kr and http://www.korea-ceramic.com are the major companies operating in the South Korea Ceramic Sanitaryware Market.
