South Korea Ceramic Sanitaryware Market Size
| 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 |
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 Market Trends
This section covers the major market trends shaping the South Korea Ceramic Sanitaryware Market according to our research experts:
Growth in Construction Sector Driving the Demand for Sanitary Ware in South Korea
The contribution of the construction sector to the GDP of South Korea observed an increasing trend from 2011 to 2017. However, from 2017, it observed a decline. In 2019, the construction sector amounted to KRW 89.37 trillion and declined to KRW 85.9 trillion in 2021. As many sanitary ware products are being installed in commercial and residential buildings, a decline in the industry's revenue and growth may negatively impact the demand for sanitary ware products in South Korea. Being a part of East Asia and in terms of the production of ceramic tiles worldwide, Asia is leading globally, with a total of 11,905 million sq. m. of production and exports. Therefore, South Korea has the opportunity to increase its market share and satisfy the ceramic sanitary ware demand worldwide and fill the demand gap domestically.
Demographic Changes in South Korea is Affecting the Country's Ceramic Sanitary Ware Market
The average number of members per household in South Korea declined over the years, from around 4.5 members per household in 2010 to 2.3 members per household in 2021. The population density in South Korea also observed a positive increase from 2017 to 2021. Population growth in South Korea observed positive growth compared to the previous year. This factor signifies the shifting trend toward nuclear families, creating an increase in the demand for household construction, including more kitchens and bathrooms, and leading to positive growth for the ceramic sanitaryware market in South Korea.
South Korea Ceramic Sanitaryware Industry Overview
Major players operating in the sanitary ware market are CERA Sanitaryware Limited, Corona, Gebrit AG, HSIL Limited, Jaquar Group, Saturn, American Standard, Compass, Acrofluid, and Roca.
Most companies are trying to establish a global presence. South Korea, as a growing economy, is investing heavily in commercial spaces and core projects, which may lead to an increase in the demand for ceramic sanitary ware projects. Ceramics with their pleasant appearance and versatility are gaining popularity in manufacturing high-quality sanitary fittings in South Korea.
South Korea Ceramic Sanitaryware Market Leaders
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https://www.jaquar.com
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https://kr.kompass.com
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http://www.daelimbath.com
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https://www.saturn.co.kr
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http://www.korea-ceramic.com
*Disclaimer: Major Players sorted in no particular order
South Korea Ceramic Sanitaryware Market News
- On January 21, 2021, Roca Group acquired a 75% stake in Roya Group, a bathroom manufacturer. Roca purchased 62% of the company from American Fund HIG. The Roya family may continue to hold 25% of the firm's capital. With this acquisition, Roca had a total turnover of over EUR 173 million in the bathroom manufacturing segment.
- On July 29, 2021, Roca Korea launched the Wash In-Tank smart toilet integrated with a cistern. The integrated cistern technology allows ease and versatility during installation and helps in saving between 10 to 20 centimeters of space.
South Korea Ceramic Sanitaryware Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Porter's Five Forces Analysis
4.6 Industry Value Chain Analysis
4.7 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Water Closet
5.1.2 Wash Basins
5.1.3 Urinals
5.1.4 Cisterns
5.1.5 Other Types
5.2 By End User
5.2.1 Residential
5.2.2 Commercial
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 CERA Snitaryware Limited
6.2.2 Corona
6.2.3 Koalar Sanitaryware
6.2.4 HSIL Limited
6.2.5 Jaquar Group
6.2.6 Saturn
6.2.7 America Standard
6.2.8 Compass
6.2.9 Acrofluid
6.2.10 Roca*
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER
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 Research 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.
What years does this South Korea Ceramic Sanitaryware Market cover?
The report covers the South Korea Ceramic Sanitaryware Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the South Korea Ceramic Sanitaryware Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
South Korea Ceramic Sanitaryware Industry Report
Statistics for the 2024 South Korea Ceramic Sanitaryware market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. South Korea Ceramic Sanitaryware analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
