Enjoy complimentary customisation on priority with our Enterprise License!
The wallcovering market size is forecast to increase by USD 6.19 billion at a CAGR of 5.04% between 2023 and 2028. The market is experiencing significant growth, driven by the expansion of the global construction industry and increasing consumer demand for personalized and customized wall decor options. This trend is evident in the rising popularity of wall panels and tiles, which offer unique designs and textures that cater to individual preferences. However, the market is also facing challenges from intensifying competition, requiring companies to differentiate themselves through innovative product offerings and effective marketing strategies. In emerging economies, the demand for wallcoverings is surging due to increasing disposable income and a growing awareness of interior decor trends.
The market has experienced significant growth in recent years, particularly in the context of construction activities and renovation projects. This trend is driven by the increasing demand for personalized interior design in residential buildings and commercial spaces. Building authorities recognize the importance of aesthetics in construction projects, leading to an increase in the use of wallcoverings in various types of buildings. Residential complexes and commercial spaces, including office spaces, retail stores, and other commercial buildings, have embraced wallcoverings as a means of enhancing interior design. Construction demand for wallcoverings is fueled by consumer preference for styled products that reflect the latest interior design trends.
Similarly, wall panels, decorative elements, and other wallcovering solutions offer unique and visually appealing alternatives to traditional paint and wallpaper. Millennials, in particular, have shown a strong interest in digital platforms and virtual design consultations, making it easier for them to explore and select wallcovering options for their homes and businesses. This demographic shift has led to increased competition in the market, with companies offering innovative and customizable solutions to meet the evolving needs of consumers. Wallcoverings are no longer just decorative elements; they play a crucial role in the overall design and functionality of a space. From tiles to wallpaper, there are numerous options available to suit various design preferences and budgets.
Consequently, construction projects that prioritize sustainability and eco-friendly materials have also seen an increase in the use of wallcoverings made from natural and recycled materials. Their innovative designs and commitment to quality have set new standards for interior decoration in both residential and commercial spaces. In conclusion, the market is a dynamic and growing industry that caters to the diverse needs of construction activities and renovation projects. With a focus on personalized design, sustainability, and digital innovation, wallcoverings continue to be a popular choice for enhancing the aesthetics and functionality of buildings.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The wall panel segment is estimated to witness significant growth during the forecast period. The wall panel segment dominates The market in 2023, accounting for the largest market share. Wall panels are essential components used in construction activities and renovation projects for personalized interior design in residential buildings and office spaces. A wall panel is a standalone piece of material that serves as the wall's visible covering, often rectangular in shape and flat. These panels add depth to a space while maintaining a balance between classic and contemporary design. The wall panel segment's growth is attributed to the increasing construction demand in Asia Pacific and Europe.
Get a glance at the market share of various segments Request Free Sample
The wall panel segment accounted for USD 8.07 billion in 2018 and showed a gradual increase during the forecast period. Building authorities in these regions continue to approve numerous construction projects, driving the market's expansion. Wallcovering manufacturers are capitalizing on this trend to cater to the increasing demand for wall panels in various applications. In summary, the wall panel segment is poised for growth in The market due to the rising construction activities in Asia Pacific and Europe. Wall panels offer a versatile design solution for interior spaces, making them a popular choice for architects, interior designers, and homeowners. The market's growth is expected to continue during the forecast period, driven by the increasing demand for personalized interior design and the availability of innovative wall panel materials and designs.
APAC is estimated to contribute 64% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
For more insights on the market share of various regions Request Free Sample
The market in Asia Pacific (APAC) is the largest segment globally, accounting for over half of the market share in 2023. This trend is anticipated to continue during the forecast period. The growth can be attributed to the revival and stabilization of the construction industry in APAC, which is driving GDP numbers. Moreover, the increasing trend of wall decoration, especially among the millennial population, is fueling the demand for wallcoverings in residential and commercial buildings. China, India, and Japan are the major contributors to the market in APAC. Sustainability is a significant factor influencing the market. Eco-friendly and sustainable wall coverings are gaining popularity due to their moisture resistance and low-VOC (volatile organic compounds) paints.
Moreover, companies in the industry are focusing on acquisitions and collaborations to expand their product offerings and cater to this growing demand. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The growth of global construction industry is the key driver of the market. The construction industry in developed countries like the US has undergone substantial transformations in recent years. With aging infrastructure in need of maintenance and restoration, as well as a growing emphasis on sustainable building practices and retrofitting, the industry is witnessing significant growth. Furthermore, the global economy's overall expansion is fueling the expansion of The market. Investments in green and sustainable building developments have been a major catalyst for innovation in the sector. Developing countries such as India have seen increased government spending, population growth, and rising per capita income, leading to a growth in demand for wallcoverings in the construction industry.
Further, York Wallcoverings and other leading players in the market are capitalizing on these trends by offering innovative and sustainable wallcovering solutions for both residential complexes and commercial spaces. Millennials, who prioritize eco-friendly and personalized design choices, are a key demographic driving demand for these products. As the construction industry adapts to changing consumer preferences and sustainability requirements, the demand for wallcoverings is set to increase. In summary, The market is poised for growth, driven by the construction industry's shift towards sustainable practices, increasing demand from developing countries, and the preferences of tech-savvy and eco-conscious consumers. Companies like York Wallcoverings are well-positioned to capitalize on these trends by offering innovative and sustainable solutions for interior designing needs in both residential and commercial spaces.
The availability of personalized and customized wall decor products is the upcoming trend in the market. The market, particularly in the realms of Metal Wall Covering for both Residential and Commercial applications, is experiencing significant growth due to the increasing population and the resulting demand for aesthetic appeal in living and working spaces. This trend is driving retailers to offer personalized services, as consumers are willing to invest additional funds for customized products.
Similarly, online retailers utilizing Print on Demand (POD) technology are at the forefront of providing such services, offering customized walls with names, photos, or zodiac signs, as well as personalized photo frames and wall art. Retailers can charge a premium for these offerings, leading to increased profits. This convenient and profitable business model is revolutionizing the market landscape.
The rising competition in the market is a key challenge affecting the market growth. In the market, manufacturers operate in organized and unorganized formats, competing based on factors such as product offerings, pricing, and differentiation. The emergence of new players and private labels will heighten competition, potentially resulting in price wars and potential quality degradation, negatively impacting the market growth.
Further, the wallpaper segment represents a minor portion of sales for traditional home improvement and furniture retailers. Competition is particularly fierce in this sector, with multichannel retailers like Walmart contributing significantly due to their lower cost structures. However, other sellers of wallcoverings include gift shops, customization service providers, and department stores.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Ahlstrom Munksjo Oyj - The company offers various wallpaper under various brands such as Wallstar Digital, Walls, Wall liners, and Wallstar.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Wallcoverings have gained significant traction in the global construction market due to the increasing demand for personalized interior design in both residential and commercial buildings. Construction activities and renovation projects have fueled the growth of this market, with a focus on enhancing the aesthetic appeal of office spaces, commercial buildings, retail stores, and residential complexes. The building authority recognizes the functional benefits of wallcoverings, including insulation, soundproofing, moisture resistance, and eco-friendliness. Interior design trends have shifted towards sustainable wall coverings, such as low-VOC paints, and customization options catering to the unique needs of consumers.
In summary, the high competition in the market has led to the adoption of digital platforms for virtual design consultations and the availability of stylish products on various channels, including specialty stores and online retailers. Wall panels, decorative elements, and metal wall coverings are popular choices for those seeking innovative and functional solutions. The millennial population's growing spending power in emerging economies has contributed to the increasing demand for wallcoverings. Consumer demand for wallpaper, tiles, and paint continues to drive the market, with a focus on meeting the unique requirements of various sectors. The market is expected to witness acquisitions and collaborations as key players seek to expand their offerings and strengthen their market position. Erin Napier and York Wallcoverings are notable players in the residential sector, while interior designing firms continue to influence commercial spaces with their creative visions.
|
Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
158 |
|
Base year |
2023 |
|
Historic period |
2018-2022 |
|
Forecast period |
2024-2028 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 5.04% |
|
Market growth 2024-2028 |
USD 6.19 billion |
|
Market structure |
Fragmented |
|
YoY growth 2023-2024(%) |
4.71 |
|
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
|
Performing market contribution |
APAC at 64% |
|
Key countries |
China, US, India, Japan, and UK |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
Ahlstrom Munksjo Oyj, Asian Paints Ltd., BRADLEY USA LLC, Brewster Home Fashions, C Brewer and Sons Ltd., Curran Group Inc., F. Schumacher and Co., Fathead LLC, Fine Decor Wallcoverings Ltd., Len Tex Corp., Marburger Tapetenfabrik JB Schaefer GmbH and Co KG, Muraspec Decorative Solutions Ltd, Prime Walls US, RPM International Inc., SAINT GOBAIN Group, Sangetsu Corp., The Sherwin Williams Co., U.S. Wallcovering, Wallquest Inc., and York Wallcoverings Inc. |
|
Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
|
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
Get the report (PDF) sent to your email within minutes.
Complimentary full Excel data with your report purchase.
Get lifetime access to our
Technavio Insights
Quick Report Overview:
Quick Report Overview:
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.
