Ceramic Tiles - UK - June 2016
“Underlying market conditions were very positive for ceramic tiles, but the UK’s decision to exit the EU has created major uncertainty for many of the factors that determine demand for tiles. There remains a shortage of new housing, house price inflation is expected to moderate, while initial indications suggest that interest rates will be reduced and commercial investment decisions deferred until greater certainty returns.”
– Terry Leggett, Senior B2B Analyst
This report answers the following key questions:
- What are the colour, shape and texture trends in ceramic tiles?
- What are the driving forces for market change?
- What impact are competing materials, such as splash boards and laminates, having on the market?
- How will the UK exiting the EU affect the market?
- Is the UK changing its use of ceramic tiles?
The value of the ceramic tile market declined sharply in the recession, but recovered and gained strength as the wider economic recovery became apparent. This reflected both greater volume demand, and, more recently, higher value products gaining market share. MBD expects low levels of growth in tile consumption to be a consistent feature of the UK market over the next few years. Unglazed tiles will continue to gain market share as they encroach on the traditional market of glazed tiles in wall applications, while continued competition from splash-back boards will adversely affect growth in the glazed sector. Both sectors will suffer higher prices following the UK’s decision to exit the EU due to the high volume of imported tiles.
House price inflation is an important determinant of home improvement activity and is expected to moderate in the short term following the UK’s decision to leave the EU. The Bank of England appears to be looking to stimulate the economy by reducing interest rates, but there is every prospect that growth will slow. The sector will not be assisted by a high level of imports, and will face price increases from the reduced value of the pound that will have less effect on substitute materials.
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