The future economy in the ceramic tile market
- 190
- Business
- 17:42 31/05/2022
DNHN - The ceramic tile industry is restructuring because of the prevalent tendency of consuming large-sized items, which are more popular with Porcelain and demand a diversity of designs and patterns, rather than a few classic types as historically.
The ceramic tile market in Vietnam is regarded to be very competitive, particularly in the Ceramic category. Because capital and technological expenditures are not prohibitively expensive, the barriers to entry are low. Furthermore, the number of manufacturing units is relatively vast, and the goods between the units do not have many distinguishing features, therefore competition is strong.
Furthermore, there are various varieties of tile alternatives in the group of finishing construction materials, such as natural wood, artificial pressed wood, natural stone, artificial stone, synthetic resin... Pressure from alternative items is significant and is aided by the environment of products that tend to reduce in price, resulting in increased competition.
The market is reshaping, with a major trend of consumers demanding large-sized items, preferring porcelain, and requiring a diversity of shapes and patterns, rather than a few classic forms as previously. Businesses with large-scale manufacturing lines and digitally printed embellishments are seen to have a strong competitive edge in the present environment.
The first quarter of 2022 is expected to be a favourable business quarter for ceramic tile companies. Most of them experienced strong revenue growth over the same year, such as VGC reached 591 billion dongs, up 18%; CVT reached 341 billion dongs, up 30%; TCR reached 204 billion dongs, flat; TTC alone fell, but only by 4%, reaching 60 billion dongs...
The market for ceramic tiles is expected to develop in the long run since building demand in Vietnam is high and the urbanization rate remains low. The trend toward mid-high-end items will continue, and buyers will become more concerned with quality, design, and brand.
PV
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