Indian tile exports fall in 2024

MECS has published the updated report “Indian Ceramic Tile Exports 2024”, which analyses Indian tile exports by volume, value and average price from 2015 to 2024, broken down by the 135 countries of export. It also provides an analysis focusing solely on exports of porcelain stoneware, as well as a chapter on the 30 top Indian exporters over the period 2023-2024.

India’s ceramic tile exports saw a sharp downturn in 2024, marking the end of a decade-long phase of rapid global expansion that was interrupted only in 2022. This period of growth peaked in 2023, when exports reached a record 589.5 million sqm (+40% on 2022), amounting to an average annual increase of 21.5% between 2014 and 2023. With these volumes and growth rates, India – now the world’s second largest tile exporter – has for several years been subject to increased scrutiny in the global ceramic tile market, particularly due to the fact that it has the lowest average selling prices among all major exporter countries.

So where did India’s export capacity change in 2024 and by how much?

A detailed picture of the situation is provided by the second edition of “Indian Ceramic Tile Exports 2024”, a report published in April by the MECS/Acimac Research Centre. Based on customs and commercial data, the study analyses Indian tile exports by volume, value and average price over the decade from 2015 to 2024, broken down by macro region and the 135 countries of export. As in the first edition in 2023, the report also provides an analysis focusing solely on exports of porcelain stoneware. The report concludes with a chapter on the top Indian exporters over the period 2023-2024 (all based in the Morbi ceramic district in Gujarat) and their performance in key international markets.

EXPORTS FALL EVERYWHERE EXCEPT IN SOUTH AMERICA

In 2024, Indian ceramic tile exports declined in volume to 525.3 million sqm, down 10.9% on 2023, or 64 million sqm less than the previous year. Sales revenue followed a similar trend, falling by 11.2% to around €2 billion (from €2.25 billion in 2023).

Despite the downturn, India remained the world’s second-largest exporter of ceramic tiles, behind China with 600 million sqm in 2024.

Asian markets continued to absorb the largest share of Indian exports, at 216.4 million sqm (-13.3%), equal to 41.2% of total volumes in 2024. Revenues from sales in Asia fell to €786.2 million (-12.8%).

Sales also declined in other major geographical areas. Exports to Africa amounted to 98.4 million sqm (-18.5%), with revenues down by 20.8% to €274.5 million. In North America and Mexico, volumes fell by 7.1% to 62.2 million sqm, while turnover dropped to €271.1 million (-8.9%). Shipments to the European Union declined to 54.2 million sqm (-8.2%), with revenues of €236.7 million (-13.3%), while exports to other European countries totalled 50.3 million sqm, down 7.5% in volume and 6.3% in value.

The only positive performance was in Latin America, where Indian exports grew by 14% to 39.4 million sqm, generating revenues of €152 million (+11.3%).

AVERAGE PRICE REMAINS UNCHANGED

The average export price of Indian tiles remained stable in 2024 at €3.8/sqm, in line with 2023, with no major changes across destination regions. Price differences between regions, however, remained significant, ranging from €2.8/sqm in Africa to €4.4/sqm in North America and the EU and as high as €5.4/sqm in non-EU European countries.

Over the past decade, average export prices held steady at €3.1-3.2/sqm until 2021, then peaked at €4.2/sqm in 2022 and have since fallen back to €3.8/sqm in the last two years.

EXPORTS RISE IN 55 COUNTRIES

India exported tiles to 135 countries in 2024, with exports declining in 80 of these countries and continuing to grow in 55.

The ranking of India’s top-10 export destinations saw numerous changes in 2024. The UAE rose to first place with 36.8 million sqm (+7.8%), overtaking the United States (34.3 million sqm, -7.1%). Iraq remained steady in third place, while Russia climbed to fourth thanks to a 22.4% increase in volumes (28.1 million sqm). The other top-10 countries were Kuwait (+2.3%), Mexico (-8.8%), Oman (-18.3%), Thailand (-11.3%), Israel (-37.1%) and the United Kingdom (+2.8%).

One of the most significant declines was in Saudi Arabia (now ranked 17th), where Indian exports dropped to 9.5 million sqm, down 46.8% on a 2023 figure that had already fallen by 26%.
The highest average prices in 2024 were recorded for exports to Turkey (€11.1/sqm) and the UK (€7.1/sqm), while the lowest were in several African countries (€2/sqm).

PORCELAIN TILE EXPORTS

Porcelain stoneware continued to dominate Indian tile exports in 2024, accounting for over 75% of the total (up from 72% in 2023). This product also performed better in foreign markets than other types of ceramic surfaces and experienced only a limited decline in sales. Export volumes totalled 403 million sqm (4.8% down on the 423 million sqm of 2023), generating €1.68 billion in revenue (-7.5%), equivalent to 84% of total tile export turnover. The average price dropped slightly from €4.3 to €4.2/sqm.

The main export markets for Indian porcelain were the UAE (+21.5%), Russia (+23%), the US, Mexico and Iraq. In many markets, porcelain accounted for more than 90% of India’s tile exports, with peaks of 98% in Russia and 100% in Egypt.

THE TOP 30 INDIAN EXPORTERS

As in the 2023 edition, the MECS report also includes an interesting in-depth look at the 30 largest Indian tile exporters ranked by export revenues in 2023-2024. As mentioned, all of these companies are based in the Morbi ceramic district.

Icon Granito again topped the ranking in 2024 with export revenues of €56 million, followed by Italica Granito, Lavish Granito, Itaca Ceramic and Laxveer Ceramic, all with export revenues between €35 million and €42 million. For all 30 companies, the top three export markets in 2024 are also listed, confirming – as in the previous year – the wide variety of destination markets served.

The report also analyses the market shares held by the top five Indian exporters in each of the country’s key foreign markets, revealing the high level of competition between the top Indian players.