Brazil Sanitary Ware Market Poised to Grow at a CAGR of over 7% till 2020
Boom in construction sector coupled with rising disposable income and changing consumer lifestyle to drive sanitary ware sales in Brazil
According to a recently published TechSci Research report “Brazil Sanitary Ware Market Forecast and Opportunities, 2020”, the sanitary ware market in Brazil is projected to grow at a CAGR of over 7% during 2015-20. The market for sanitary ware is anticipated to be dominated by water closets and bidets over the next five years, followed by basins, bathtubs, urinals, etc. Brazil has the natural advantage of abundant availability of raw materials, which are required for the sanitary ware production such as feldspar, kaolin, silica, etc. The easy availability of raw materials in Brazil has enabled sanitary ware manufacturers to meet the growing domestic as well as international demand for sanitary ware. There are majorly four types of sanitary ware products available in Brazil including water closets & bidets, basins, bathtubs and urinals, out of which, the water closets & bidets dominated the market with the highest share in 2014. Few of the major factors that are contributing towards the increasing demand for sanitary ware include the ongoing preparation for 2016 Summer Olympics, rising disposable income and increasing hygiene consciousness.
Urbanization in Brazil is growing at a fast rate, which is a positive sign for sanitary ware manufacturers. Residential sector is evolving as the major end user segment of sanitary ware products in the country, followed by the commercial & institutional sectors. Due to the upcoming sport event of 2016 Summer Olympics in Brazil, over 400,000 visitors are expected to come and experience the games, which will prove beneficial not just for the hospitality sector, but also for sanitary ware industry. Owing to the increasing tourist footfalls, Brazil has been extensively investing in various new and renovation projects especially in hotels, resorts, stadiums, etc. Consequently, the demand for sanitary ware is also anticipated to increase from the hospitality industry during the forecast period.
“Demand for sanitary ware products in Brazil is growing at a significant pace, which, in turn, has not only created business opportunities for domestic players, but is also attracting an increasing number of international players, especially from China, that are exporting sanitary ware products to Brazil.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Brazil Sanitary Ware Market Forecast and Opportunities, 2020” has evaluated the future growth potential of sanitary ware market in Brazil and provides statistics and information on market structure, size, share and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities prevalent in sanitary ware market in Brazil.
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