INDIA CERAMIC SANITARYWARE MARKET ANALYSIS

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2. INDIA CERAMIC SANITARYWARE MARKET ANALYSIS • Ceramic sanitarywareis a component that is used for sanitary purposes, this includes closets, sinks, washbasins, and bathtubs. They are produced by using raw materials such as clays, quartz, and feldspar. They are cost-effective, have excellent resistance to harsh environmental factors and require very less maintenance. Moreover, they are available in a variety of shapes and color as per the desired requirement of the users which makes them ideal for various commercial and residential sanitary applications. Nowadays, most of the sanitaryware is available in a white or very pale color.

3. Statistics: • The India ceramic sanitaryware market was valued at US$ 2,362.8 Mnin terms of value and 31,953 Thousand Tons in terms of volume in 2018 • Drivers: • Increasing per capita disposable income of the Indian consumer is a prime factor fueling the market growth of ceramic sanitaryware. Indian consumers are spending more on luxury products and focus more on the good feel and look of bath fittings. According to the CEIC, India's GDP Per Capita touched 2,041.091 USD in Mar 2019, compared with 2,015.228 USD in Mar 2018. Therefore, growing per capita the income of the Indian consumer is projected to foster the market growth of Indian ceramic sanitaryware. • Rising government initiatives for improving sanitation facilities in India is projected to foster the market growth over the forecast period. For instance, in December 2016, Union Minister for Health & Family Welfare Shri J P Nadda and Union Minister of Human Resource Development ShriPrakashJavadekar introduced a ‘SwachhSwasthSarvatra’. SwachhSwasthSarvatra is a joint initiative of the Ministry of Health and Family Welfare and the Ministry of Drinking Water and Sanitation to achieve better health outcomes through improved sanitation and increased awareness and healthy lifestyles.

4. Statistics: South India region dominated the India ceramic sanitaryware market in 2019, accounting for 32.5% share in terms of volume, followed by North India and West India, respectively

5. Market Restraints • Slow growth in the residential real estate industry in India is expected to hinder the market growth of ceramic sanitaryware. The residential real estate industry in India is facing several challenges such as financial stress on developers, high unsold inventory, and delayed delivery of projects. Such factors are projected to negatively impact the market growth of ceramic sanitaryware in India. • Lower rate of replacement in the sanitary product due to lack of innovation and modernization in the sanitary product is expected to hamper the market growth of India ceramic sanitaryware. Bath fittings products offered from top branded companies have a warranty of at least 10 years due to which consumers are less inclined to replace bath fittings as it requires high labor charges. Thus, low the replacement rate of bath fittings is a major factor expected to hinder the growth of the India ceramic sanitaryware market.

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7. Market Opportunities • Increasing number of merger acquisition for developing innovative sanitaryware product in India is projected to offer lucrative opportunity to the market over the forecast period. For instance, in April 2017, bathroom products manufacturer Jaquar & Co Pvt. Ltd  acquired a sanitaryware factory from Euro Ceramics Ltd for Rs 100 crore ($15.5 million). The plant, located at the Bhachau area of Kutch district in Gujarat is spread over 17 acres. Jaguar operates five factories in India and one in South Korea. Therefore, rising a number of such merger acquisition is projected to propel the market growth. • Growing demand for twin-flush water closets is expected to augment the market growth over the forecast period. For instance, in February 2018, Parryware introduced power flush toilets and Shimmer collection for contemporary bathroom spaces. The products are exclusively designed for modern-day bathroom spaces and ideal fit for all bathrooms. Therefore, rising demand for such advanced product is expected to boost the market growth over the forecast timeframe.

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9. Market Trends/Key Takeaways • Expansion of production capacity by a major manufacturer in order to cater to rising demand from the residential and commercial sector is expected to gain traction in the market. For instance, in May 2017, Tile maker Somany Ceramics is looking beyond its mainstream business and is expanding the sanitaryware portfolio, with an objective to make pan India presence by next year. The company, which had a turnover of Rs 1,805 crore last year, expects the sanitaryware segment to contribute about Rs. 400 crore in the overall revenue in the next three to four years. • Growing demand for Twin-flush water closets is expected to augment the market growth over the forecast period. For instance, in Feburary 2018, Parryware introduces power flush toilets and Shimmer collection for contemporary bathroom spaces. The products are exclusively designed for modern-day bathroom spaces and ideal fit for all bathrooms. Therefore, rising demand for such advanced product is expected to boost the market growth over the forecast timeframe.

10. Competitive Section: • Company Names  • Players active in the market are HSIL Ltd, CeraSanitaryware Ltd., Roca Sanitario, S.A., RAK Ceramics, Duravit AG, Toto Ltd., Jaquar, Golf Ceramics Ltd., Kajaria Ceramics Limited, H & R Johnson, and VilleroyBoch Group • Few Recent Developments • CeraSanitaryware Ltd. • In 2015, the company entered into a joint venture agreement with an Italy-based global sanitaryware brand, ISVEA, to introduce premium sanitaryware products in India  • Hindustan Sanitaryware & Industries Limited (HSIL Limited) • In April 2016, HSIL Ltd. launched kids-friendly sanitaryware products under the brand name Poncho • In 2015, HSIL company launched 174 new, sustainable and water-efficient sanitaryware products • Roca S. A • In 2015, Roca collaborated with Parryware to introduce a new line of bathroom fitting products • RAK Ceramics • In 2015, RAK Ceramics introduced a new contemporary range of ceramic sanitaryware products under the brand Catherine

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