In recent years, the development of China's sanitary ware market has been rapid. The overall size of the domestic sanitary ware market has been growing from 74.1 billion yuan in 2018 to 89.5 billion yuan in 2019, an increase of 21.2% year-on-year. In addition, with the changes in consumption structure and consumer groups, the sanitary ware industry will usher in unprecedented development opportunities. According to the analysis, there will be a larger growth in the sanitary ware industry in the future, which may reach 128.2 billion yuan in 2022. With the new environmental protection laws and policies issued by the Chinese government, new development opportunities will also emerge in the sanitary ware industry, and energy-saving and environmental protection sanitary ware products will become mainstream.
Due to the enhanced consumer purchasing power, the product diversification of the sanitary ware industry is also developing, and intelligent products and multi-functional products are also becoming more and more popular in the market. In addition, the development of emerging cities and third- and fourth-tier cities has also brought new opportunities to the sanitary ware industry. In short, the development of China's sanitary ware market is rapid, the quality is constantly improving, and it has become a new growth point for the domestic sanitary ware industry. In the future, the Chinese sanitary ware market still has great potential for development and is expected to achieve higher growth in the next few years.
In comparison with the development of other regions in the world, China's sanitary ware market is also in a leading position. It is understood that the global sanitary ware market is US$263 billion, accounting for about 50% of the overall size of the global sanitary ware market, of which China accounts for about half and is ranked second in the world. In addition, the global sanitary ware market has developed rapidly in the past few years, and it is expected to continue to maintain this development momentum in the next few years, and China will also become one of the main driving forces of the global sanitary ware market.