South Korea Sanitary Ware Market Overview, 2028

South Korea Sanitary Ware Market Overview, 2028

Actual Market Research 31-12-2022 75 Pages Figures : 6 Tables : 16 Region : Asia-Pacific Country : Korea South Category : Consumer Goods & Services Household Goods

Ceramics that are often used in bathrooms and kitchens are sold on the sanitary ware market in South Korea. The need for sanitary wear is increasing as the years pass. In emerging nations, there is also a rising awareness of the need for greater sanitation, which fuels market demand. Additionally, various demographics in South Korea have more purchasing power. The sanitaryware industry is experiencing significant innovation, which is driving up demand overall. When it comes to sanitation, South Korea has a big issue. The developing world is becoming more urbanized, nevertheless. South Korea's sanitary system is being supported by several governments. As a result, there is a rise in the need for sanitary equipment. According to the research report "South Korea Sanitary Ware Market Overview, 2028," published by Bonafide Research, the market will grow by USD 0.33 Billion in the upcoming year, 2022–2028. The market for sanitary ware in south Korea is divided into segments based on product type, end-use, and distribution channels that are offline and online. The wash basin (vanity basin, pedestal, wall mounted, tabletop, corner, etc.), toilet sink (commodes and cisterns), urinal, bathtub, and other segments make up the South Korean sanitary ware market's product type segment. The demand for sanitary ware goods in South Korea may be significantly impacted by a fall in the industry's income and growth since so many sanitary ware products are being installed in commercial and residential structures. With a total of 11,905 million square meters in production and exports, Asia, which includes East Asia, is the world leader in the manufacture of ceramic tiles. South Korea thus has the chance to grow its market share, meet the global demand for ceramic sanitary ware, and close the domestic demand gap. Since South Korea's population is growing every year, we can infer that the sanitary market is also expanding. From about 4.5 members per family in 2010 to 2.3 members per household in 2021, South Korea's average household size decreased over time. Between 2017 and 2021, South Korea's population density saw an improvement. South Korea's population growth saw an increase over the previous year. This element represents the movement in family structure toward nuclear families, which raises the need for home construction—including more kitchens and bathrooms—and fosters the South Korean market for ceramic sanitaryware. South Korea's market for sanitary ware items had a drop in 2019–2020 as a result of the COVID-19 epidemic. The manufacture of ceramic sanitaryware in South Korea decreased as the effects of the epidemic persisted. Washbasins, closets, sinks, and bathtub components are examples of fixtures and parts that are included in ceramic sanitary ware. The demand for ceramic sanitary ware is rising again after the Covid along with population growth and building activity. According to distribution channels, which include offline and online, south Korean prefer to purchase sanitary ware offline because they disbelieve in online sanitary ware purchases and are particularly concerned about the product's quality and substance. Based on end users that are residential and commercial, the demand for sanitary ware is more in commercial because government launch a new project regarding the hygiene and health of the people of South Korea like south Korea and UNICEF launched a program to provide water, sanitation, and hygiene services to over 50,000 students in Karamoja. CERA Sanitary ware Limited, Corona, Gebrit AG, HSIL Limited, Jaquar Group, Saturn, American Standard, Compass, Acrofluid, and Roca are significant market participants in the sanitary ware industry. The majority of businesses are attempting to expand internationally. As a developing economy, South Korea is making significant investments in core projects and commercial real estate, which may raise demand for ceramic sanitary ware projects. Ceramics are becoming more and more popular in South Korea for producing high-quality sanitary fixtures due to their attractive look and adaptability. COvid19 impact on the sanitary ware Market, Manufacturing operations stop starting with COVID-19, which affects industry expansion. The manufacturing of non-essential goods, construction work, and other types of activity were temporarily prohibited by the South Korean government after the COVID-19 outbreak. While the suspension of building activities temporarily decreased demand for such goods, the suspension of manufacture led to a shortage of sanitary ware products in South Korea. Because of the severe disruption in supply and demand for sanitary ware items during the lockdown, the South Korean sanitary ware market's expansion was in part constrained. However, it is projected that the need for sanitary facilities would increase as a result of the population's growing emphasis on excellent hygiene and enhanced cleaning. Considered in this report • Geography: South Korea • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • South Korea Sanitary Ware market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Product • Toilet Sink (Commodes) and Cistern (Water Closet) • Wash Basins (Vanity Basins, Pedestal, Wall hung, Table top, Corner, etc.) • Urinal • Bathtubs • Others By Technology • Slip casting • Pressure casting • Others By End User • Residential • Commercial By Distribution Channel • Offline • Online The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual reports of companies, and analyzing government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the sanitary ware industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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