In Morocco, the construction industry is considered to be the backbone of the country being one of the most prominent industries. The growing population has led to a rising demand for households in order to accommodate the population of the country. A rapid progress in the tourism industry of the country has also triggered the implementation of new building and construction projects. The flooring materials which used in the constructions in Morocco are manufactured locally, are low quality cement and ceramic tiles. Nevertheless, the trend is anticipated to change in the coming years owing to a change in the preference of consumers towards full-body, glazed, and aesthetic porcelain tiles. Glazed porcelain tiles are said to be perfect for kitchens and living rooms as they look elegant and last long. However, based on volume, ceramic materials is consumed in sizeable quantity in the bathroom materials industry for renovation as well as new construction. The construction industry is expected to witness major shift in the preferences with consumers inclining towards modular furniture.
According to the report published by Transparency Market Research (TMR), the Morocco ceramic and porcelain market is expected to grow at a CAGR of 6.4% between 2016 and 2024. The market is expected to be worth US$2.7 bn by the end of 2024 from a valuation of US$1.5 bn in 2015.
Tangier and Casablanca to Witness Significant Demand for Porcelain and Ceramic Tiles
In terms of consumption of accessories, furniture, bathroom materials, and porcelain and ceramic tiles, Casablanca dominated the market in Morocco with the leading share of 30% in 2015. Being the financial hub and economic capital of Morocco, there is a huge demand for high-end and affordable structures for accommodating the growing population. Thus, the construction industry is at pace in Casablanca, giving rise to a high demand for porcelain and ceramic tiles. On the other hand, Tangier is expected to emerge as a lucrative region in terms of growth opportunities for the Morocco ceramic and porcelain tiles market expanding at a CAGR of 6% during the forecast period.
Government to Play Crucial Role in Market’s Growth
As a tourist destination, Morocco has become extremely popular over the last couple of years. This has, in turn, increased the influx of tourist in the country, thus benefitting the tourism industry also. As a result of this, the construction of hotels, resorts, and other luxury buildings has increases, thus bolstering the demand for accessories, furniture, bathroom materials, and porcelain and ceramic tiles. To escalate the construction of new buildings and hotels in Morocco, the government has taken initiatives by implementing housing schemes and increasing funding for the construction industry. Renovation of old buildings and the target of completing the construction of 1,50,000 social housing facilities by 2020 is expected to bode well for the growth of the market in Morocco.
Browse the full Morocco Ceramic and Porcelain Tiles Market report http://www.mrrse.com/morocco-ceramic-porcelain-tiles-market
Some of the key companies in the Morocco ceramic and porcelain tiles market are RAK Ceramics, Creavit, Jacob Delafon, NG Kütahya Seramik, Marazzi, HSIL Hindware, S.A., Jaquar, Grohe AG, Kohler Co., and Roca Sanitario.