The ceramic and porcelain tiles, bathroom materials, and furniture and accessories market in Morocco is expected to rise from a valuation of US$1.5 bn in 2015 to US$2.7 bn by 2024.
Casablanca and Tangier to Present Promising Scope for Growth in Morocco
Full-body porcelain tiles led the ceramic and porcelain tiles market in Morocco, accounting for a 34.6% share in 2015. The segment is also projected to witness strong growth over the coming years. Registering a 7.3% CAGR from 2016 to 2024, glazed porcelain is likely to emerge as the most attractive investment option for the market. Thin tiles are a relatively newer generation of ceramic and porcelain tiles and the segment is expected to be highly lucrative in the near future.
Within the bathroom materials market in Morocco, ceramic led the market for floor as well as wall materials. On the other hand, porcelain was the most rapidly expanding segment in both cases. The bathroom furniture and accessories market is dominated by the bath and sanitary ware segment and faucets are anticipated to register a high growth rate during the forecast period.
Casablanca led the ceramic and porcelain tiles, bathroom materials, and furniture and accessories market in Morocco, accounting for a share of more than 30% in 2015. Tangier, on the other hand, is projected to be the most lucrative market, exhibiting a CAGR of over 6% from 2016 to 2024.
Casablanca led the ceramic and porcelain tiles, bathroom materials, and furniture and accessories market in Morocco. In terms of revenue, Casablanca held a share of more than 30% in 2015. Casablanca is the economic capital and leading financial hub of Morocco. Major industrial facilities and the headquarters of several Moroccan and international companies are based in Casablanca. The increasing demand for affordable housing within the middle-class population and the rising efforts of the Ministry of Housing and Urban Policy (MHU) to develop social and residential housing are likely to fuel the residential construction sector. This, in turn, is estimated to boost the Casablanca ceramic and porcelain tiles, bathroom materials, and furniture and accessories market during the forecast period.
The Casablanca market is followed by Agadir and Tangier. A rise in the number of construction projects in these cities is estimated to be the key driving factor during the forecast period. A significant expansion in the construction industry in other cities such as Rabat, Fez, and Marrakech is projected propel the ceramic and porcelain tiles, bathroom materials, and furniture and accessories market in Morocco
The ceramic and porcelain tiles, bathroom materials, and furniture and accessories market in Morocco is primarily dependent on the presence of unorganized regional players and a handful of key international players, such as Roca, RAK Ceramics, NG Kütahya Seramik, PORCELANOSA, and Marazzi. Transparency Market Research has observed that a few regional companies with a significant presence have established a strong and loyal customer base in various cities across Morocco. This has intensified the degree of competition with other local players as well as with international companies supplying imported tiles and other bathroom materials.
Report Overview, with TOC - https://www.transparencymarketresearch.com/report-toc/15155
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