Investor Presentaiton
October 12, 2021
GBM
THE US MARKET: AN OPPORTUNITY FOR MEXICO
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The ceramic tiles market in the United States is yet to fully recover from the housing bubble, as the consumption of ceramics has remained flat for the past 16 years. The market began to improve after the
crisis until the COVID-19 pandemic emerged. However, with home office mandates increasingly becoming an option for some American families in the context of a healthy housing market, with low levels of
inventory and easy access to mortgages, we believe demand for ceramic tiles is poised to keep rising.
The domestic production deficit for ceramics in the United States may open an opportunity to increase Mexican imports and expand the supply in the world's largest ceramic importer.
Given that imports account for 70% of the US consumption, Mexico's privileged geographic position may allow it to keep gaining market-Mexico accounted for -17% of US imports in 2020.
Mexico competitive advantages:
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Geographic position
Tariffs (Mexico's 0% vs. Other countries' 8.5%)
Total Ceramic Tile Consumption
308
303
CAGR
293
Source: TCNA
249
195
2004-2020: -0.6%
2008-2020: +2.5%
173
186
193
204
230 231
289
284
273
269
264
20.2%
254
Others
32.0%
2015
2016
2017
2018
2019
2020
US Total Consumption
16.5%
QO
15.2%
16.1%
70%
30%
Imports
Domestic Manufacturing
LAMOSA/CERAMIC: THE ROAD TO GROWTH IS PAVED WITH TILES. | 16View entire presentation