The new report by Expert Market Research titled, ‘Vietnam sanitary ware and bathroom accessories Market Trends, Report and Forecast 2022-2027’, gives an in-depth analysis of the Vietnam sanitary ware and bathroom accessories market, assessing the market based on its segments like product types and materials. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
• Historical Market Size (2020): USD 467 Million
• Forecast CAGR (2022-2027): 6.4%
Sanitary ware and bathroom accessories are durable and easy to clean. In this regard, the increasing spending on toilet sanitisation, rapid urbanisation, and increasing standards of living in Vietnam is driving the market growth. The increasing demand for premium sanitary ware and bathroom accessories owing to the changing lifestyle patterns of the working-class population in the region is propelling the market growth. Over the forecast period, the rapid development of durable sanitary ware products, which are ideal for longer-run, is anticipated to drive the market growth in the coming years. The strong foothold of major sanitary ware manufacturers and bathroom accessory developers in the country is likely to aid the availability of innovative sanitary ware with different shapes and sizes.
Industry Definition and Major Segments
Sanitary ware and bathroom accessories are defined as the products or appliances which are installed in toilets and bathrooms. These include washbasins, pedestals, urinals, and towel rods, among others. These products are easy to clean owing to their glossy surface and exhibit high resistance to chemical attacks.
On the basis of product type, the market can be segmented into:
• Toilet/Water Closet
• Wash Basin
The market can be categorised based on material into:
• Pressed Metal
• Acrylic Plastic and Perspex
The primary driver in the sanitary ware and bathroom accessories market in Vietnam is the growing expansion of the online business platforms owing to the increasing adoption of internet of things (IoT), which are propelling the sales of the products. The incorporation of smart technologies in the sanitary ware market, such as dual flush and digitally operated showers, among others are likely to be the crucial trends in the market. The growing research and development activities by the major manufacturers, aiming towards innovative development of ceramic-based sanitary ware with high -quality fittings, are anticipated to increase the popularity of the products, thereby, attracting a greater number of consumers and spending on bathroom maintenance.
Key Market Players
The major players in the market include Vietnam Caesar Sanitary Equipment Joint Stock Company, Innoci Viet Nam Co., Ltd, Italisa Vietnam Co., Ltd, Jaquar Vietnam, Grelli Sanitary Ware, ROCA Sanitario, S.A., Toto Vietnam Co.,Ltd., Viglacera Corporation- JSC, and Viet Ceramics International Joint Stock Company, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.