Categories: Market Research

Sanitary Ware Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Sanitary Ware Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Sanitary Ware Global Market Report 2024, The sanitary ware market size has grown strongly in recent years. It will grow from $38.76 billion in 2023 to $40.89 billion in 2024 at a compound annual growth rate (CAGR) of 5.5%. The growth in the historic period can be attributed to growth in the real estate and construction industry, trade liberalization and international partnerships, expansion of retail channels, tourism and hospitality industry growth, aging infrastructure replacement.

The sanitary ware market size is expected to see strong growth in the next few years. It will grow to $50.81 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to growing importance of digital marketing and e-commerce, increasing popularity of wellness-oriented bathroom products, investment in research and development, rising demand for premium and luxury sanitary products, influences of interior design trends. Major trends in the forecast period include smart and connected bathroom solutions, biodegradable and sustainable materials, wellness-oriented bathroom designs, personalized and customizable sanitary products.

The growth of the construction industry is expected to propel the growth of the sanitary ware market going forward. The construction industry refers to the industrial branch of manufacturing and trade-related activities, including building, repairing, renovating, and maintaining infrastructure. The construction industry requires sanitary ware in larger quantities to be installed in all the bathrooms’ infrastructure; as a result, the rising construction activities increase the demand for sanitary ware. For instance, In June 2021, according to a report published by Canada’s national statistical agency, the investment in building construction increased from $14294 million in April 2019 to $19273 million in 2020. Furthermore, in the 2022 U.S. Construction Cost Trends report, there is a rise in residential construction, which will continue to drive up demand for materials and labor, escalating competition, and cost pressures. In the U.S., total construction spending has increased by 16% since the pandemic’s onset. Therefore, the growth of the construction industry drives the sanitary ware market.

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The sanitary ware market covered in this report is segmented –

1) By Type: Toilets, Washbasins, Urinals, Cisterns, Other Products

2) By Materials: Ceramic, Pressed metal, Acrylic plastics and Perspex, Other Materials

3) By Technologies: Slip Casting, Pressure Casting, Tape Casting, Isostatic Casting

4) By Sales Channels: Retail, Wholesale

5) By End-Users: Commercial, Residential

Major companies operating in the sanitary ware market are focused on developing innovative solutions such as sanitary ware digital platforms. A sanitary ware digital platform refers to an online or digital platform specifically designed for the sanitary ware industry that serves various purposes related to the sanitary ware sector, including manufacturing, distribution, sales, marketing, and customer interaction. For instance, in February 2021, Grohe AG, a Deutschland-based sanitary ware manufacturing company announced the launch of ‘GROHE X’. The platform provides the opportunity for individuals to delve into the GROHE universe, broadening their horizons for an enhanced way of life, anytime and anywhere they desire. GROHE X enables individuals to engage with the rich and varied GROHE sanitary ware product portfolio, providing the essential elements to craft their unique brand experience.

The sanitary ware market report table of contents includes: