According to a new report published by Allied Market Research, titled,"Vietnam Sanitary Ware & Bathroom Accessories Market by Product Type and Material:Opportunity Analysis and Industry Forecast, 2018-2025," the Vietnam sanitary ware & bathroom accessories market size was $443.4 million in 2018, and is projected to reach $685.2 million by 2025, registering a CAGR of 6.4% from 2018 to 2025. In 2017, the toilet/water closet segment accounted for about one-third of the market share in terms of value.
Sanitary ware are products installed in bathrooms and kitchens such as toilet/water closets, toilet sinks, cisterns, washbasins, showers, faucets, and other bathroom accessories. Sanitary ware items are generally made up of ceramics. However, sanitary wares are also manufactured using metals, glass, or plastics. The ceramic sanitary wares are cost effective, have excellent resistance to chemical attacks, and can withstand heavy loads as well.
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Backed by economic growth, increase in demand for concept bathroom, rise in disposable income, and expansion in residential sector, the sanitary ware & bathroom accessories market in Vietnam has experienced a robust growth in past few years. New trends of concept bathroom and eco-friendly sanitary ware and customization fuel the market growth. Furthermore, new water saving technologies and sustainable material for sanitary ware further propel the market growth. Furthermore, rise in construction activities, increase in disposable income of consumers, surge in urbanization, growth in shift from unbranded products to branded products, and strong replacement demand boost the Vietnam sanitary ware & bathroom accessories market growth. Moreover concept bathrooms is poised to gain wide traction in the coming years; consequently, the importance of in-store experience has increased in many folds. Engaged stakeholders in the Vietnam sanitary ware & bathroom accessories industry have established experience-centers where a customer can view all bathroom accessories and sanitary ware at a single place.
Growth in urbanization, rise in standard of living and foreign direct investment in the Vietnam region to augment sanitary ware and bathroom accessories market growth. Furthermore, introduction of smart technologies are expected to provide impetus to the growing market in the region.
The Vietnam sanitary ware & bathroom accessories market analysis is based on product type and material. Based on product type, the market is divided into wash basins, toilet sinks, pedestals, cisterns, showers, faucets, and other bathroom accessories. Based on material, it is classified into ceramics, pressed metals, acrylic plastic & Perspex, and others. Based on distribution channel, it is analyzed across retail distribution and wholesale distribution. Based on location, it is bifurcated into commercial and residential.
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Key Findings of The Vietnam Sanitary Ware & Bathroom Accessories Market:
- The toilet/water closets dominated the Vietnam sanitary ware & bathroom accessories market share in 2018 and is expected to remain its dominance throughout forecast period
- Ceramic sanitary ware is projected to be the most lucrative segment in the Vietnam sanitary ware & bathroom accessories market and is projected to grow with a CAGR of 5.4% during the forecast.
- Manufacturers are significantly adopting the concept of a smart bathroom which involves usage of proximity sensors to regulate flow of water owing to the increase in concern for hygiene standards and energy conservation,
- Technological developments and introduction of new innovations such as aerial showers, smart showers, cascade flow in the showers are emerging sanitary ware & bathroom accessories market trends in the region.
- In terms of volume faucets accounts for about 29% of the Vietnam sanitary ware & bathroom accessories market.
The key players profiled in the Vietnam sanitary ware & bathroom accessories market include CAESAR Bathroom, Gessi SpA, Innoci Vietnam, Jaquar Group, LIXIL Group, Roca Sanitario, S.A.,TOTO Ltd., Viglacera Corporation, Italisa (Vietnam) Co. Ltd., and Thien Thanh Sanitaryware Joint Stock Company (Thien Thanh).
