Global Sanitary Ware and Bathroom Accessories Market Size Booming at CAGR of 11.21% During 2023–2029
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects the global sanitary ware and bathroom accessories market size to grow at a steady CAGR of 11.21% during the forecast period between 2023 and 2029.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, expects the global sanitary ware and bathroom accessories market size to grow at a steady CAGR of 11.21% during the forecast period between 2023 and 2029. A spurring demand for luxurious bath fittings that offer superior quality and aesthetics, driven by an increase in consumer disposable income and changing consumer tastes for premium bathrooms, are major driving factors for the global sanitary ware and bathroom accessories market. The market is also expected to develop throughout the projected period due to a thriving building sector and the rising construction of residential and commercial spaces.
Global Sanitary Ware and Bathroom Accessories Market – Overview
Sanitaryware products are ceramic objects used in bathrooms. Porcelain, a type of ceramic material, was traditionally used in the production of these goods. But nowadays, sanitary goods are produced from various materials, including metals, glass, plastics, and others. Examples of common bathroom accessories include towel bars, soap dispensers, toilet paper holders, shower caddies, and other items. These accessories enhance the bathroom's overall visual appeal in addition to aiding in its organization. It is simpler to remove or replace these fittings.
Global Sanitary Ware and Bathroom Accessories Market – By Material
Based on material, the global sanitary ware and bathroom accessories market is segmented into ceramic, pressed metal, acrylic plastics, perspex, and others. The ceramics segment accounts for the highest share of the market by material. Ceramic produces a smooth, non-porous surface that can be cleaned with sweeping, mopping, and scrubbing. It does not hang onto dirt, therefore, picking up the dirt and moving is much quicker. The robust surface is impact, chip, and crack resistant. Additionally, it can withstand extremely high and low temperatures, providing confidence that long-term usage of heat-related items and frequent temperature fluctuations will not degrade the product's quality.
Impact of COVID-19 on Global Sanitary Ware and Bathroom Accessories Market
The unprecedented COVID-19 pandemic halted the growth of the global sanitary ware and bathroom accessories market. The delay and postponement of construction activities, as a result of lockdown in several economies, directly impacted market demand for sanitary ware and bathroom accessories. The closure of brick-and-mortar stores also resulted in significant losses for industry players. Furthermore, the renovation activities of residential and commercial spaces were also temporarily halted due to restrictions on the supply chain and a decline in the disposable income of consumers. However, the brands quickly shifted their operations to e-commerce platforms, which are anticipated to present lucrative growth opportunities to the global Sanitary Ware and Bathroom Accessories market during the forecast period.
Competitive Landscape
Major players operating in the global sanitary ware and bathroom accessories market include Kohler, TOTO, LIXIL Group (INAX, Grohe, American Standard), Roca, MASCO (Hansgrohe, Delta), Moen, Hansa, HCG, Villeroy and Boch, Duravit, Oras Oy, Sanitec (Geberit), ARROW, JOMOO, and Huida Sanitary Ware. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
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