The global sanitary ware market size was worth around USD 11.75 billion in 2022 and is predicted to grow to around USD 17.76 billion by 2030 with a compound annual growth rate (CAGR) of roughly 5.30% between 2023 and 2030.
Sanitary ware products are a broad range of bathroom items that play a crucial role in maintaining hygiene and sanitation. The product category includes washbasins, urinals, faucets, showers, vanity units, mirrors, cisterns, bathroom cabinets, and many more such bathroom appliances that are used by people in residential, commercial, or public settings. The sanitary ware market deals with the designing, production, and distribution of several sanitary ware products across end-users. It brings together a large chain of manufacturers, suppliers, retailers, and other essential stakeholders that ensure the smooth flow of products and services throughout the supply chain. Some crucial characteristics of modern-age sanitary ware include high durability, design, functionality, hygiene, and water efficiency.
The global sanitary ware market is projected to grow due to the rising middle-income population across the globe. With an increase in job opportunities along with multiple working family members, the affordability index across many regions has grown in the last decade. In addition to this, rampant urbanization and product awareness has assisted in higher demand for aesthetically pleasing and functional private spaces including bathrooms.
The sanitary ware industry is expected to create a larger consumer database driven by growing product innovation as manufacturers invest more resources in meeting consumer expectations. In recent times, there has been a steady rise in housing demand due to increasing population. As more houses, including stand-alone or residential complexes, continue to be built either by private companies or as a government infrastructure development project, the requirement for modern sanitary ware will continue to rise.
One of the most anticipated segments in sanitary ware includes the range of products that focus on improving water efficiency as sustainability remains a prime focus for residential and commercial space builders.
The global sanitary ware market could face growth limitations due to higher dependency on certain regions for the supply of preferred sanitary ware products. As geo-political situations across many nations continue to remain volatile, manufacturers and distributors may have to deal with difficult trading situations in the coming years. Moreover, the high cost associated with the installation of sanitary ware, especially the ones belonging to the premium range, could further deter consumers from spending on new installations until absolutely required.
The rising awareness surrounding hygiene and sanitation may provide growth opportunities whereas the longer replacement periods between installations could challenge industry growth
The global sanitary ware market is segmented based on technology, product type, distribution channel, end-user, and region.
Based on technology, the global market divisions are spangles, slip casting, pressure coating, jiggering, isostatic casting, and others.
Based on product type, the sanitary ware industry is divided into urinals, washbasins & kitchen sinks, bidets, water closets, faucets, and others. During 2022, the water closets segment registered the highest growth since it is one of the most basic sanitation ware that is installed in every setting including public and private spaces. Currently, there is a growing demand for ceramic-based water basins due to their higher quality or appearance along with the convenience of cleaning and managing these basins. They are highly resistant to chemicals and other strong agents as they do not tend to lose their appearance with time. Moreover, the increasing number of options aided by growing product innovation ensures that a larger consumer group is targeted. There is a growing requirement for vanity basins in premium public units such as theaters, malls, and airports. The life expectancy of a ceramic sink is nearly 50 years.
Based on distribution channel, the global market is divided into online and offline.
Based on the end-user, the global sanitary ware industry is divided into commercial and residential. The highest growth was observed in the residential segment in 2022 which includes units such as houses, apartments, and condominiums. They have higher overall demand for sanitary ware products. The segmental growth is expected to be led by increasing construction and building projects across the globe, especially in developing nations such as China and India which have registered a growing construction rate of high-rise buildings targeting the residential sector. Most of these new-age homes are equipped with world-class interior design including sanitary ware products. As per Bloomberg, China had more than 2900 buildings taller than 492 feet as of 2022.
Asia-Pacific is expected to lead the global sanitary ware market due to increasing assistance by the regional governments to promote the already well-established sanitary ware regional industry. China is currently one of the largest suppliers of exquisite bathroom fixtures. Additionally, regions such as India, South Korea, Singapore, and other nations have high domestic demand as the population continues to rise along with a steady increase in disposable income.
Europe is projected to act as a significant contributor to the global market due to the high demand for designer or premium range of sanitary ware. Moreover, increasing renovation and building activities aided by a strong emphasis on water conservation could further fuel the regional sanitary ware sector.
Post time: Aug-16-2023