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The Wallcovering Market Size is estimated to grow by USD 5.49 billion at a CAGR of 4.7% between 2022 and 2027. The growth of the global construction industry, driven by urbanization and infrastructure development, is creating new opportunities for interior designers to work on various projects. The improved standard of living, particularly in emerging economies, is leading to an increased introduction of premium products in interior design, catering to the demand for luxury and high-quality design solutions. Additionally, the rising popularity of blogs related to interior design is driving awareness and interest in interior design trends, influencing consumer preferences and driving demand for interior design services. Overall, these factors are contributing to the growth and evolution of the interior design market worldwide.
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This market report extensively covers market segmentation by type (wall panel, tiles, and metallic wall covering), end-user (residential and commercial), and geography (APAC, North America, Europe, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
The market share growth by the wall panel segment will be significant during the forecast period. The wall panel is the largest segment of the global wallpaper market in 2022 and will continue to remain the largest segment during the forecast period. It is a single piece of material that acts as the exposed and apparent covering for a wall. It is typically flat and cut into a rectangular shape. They may provide depth to any space and have the ideal balance of classic and modern design. Due to the above factors the segment is expected to witness growth during the forecast period.
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The wall panel segment was valued at USD 7.77 billion in 2017. These panels are mostly considered a part of interior decoration. These panels can, however, also be employed in exterior applications. These panels, which come in a variety of kinds, like metal-clad boards or PVC sheets, cover the entire wall surface. Wall panels are extensively used by residents for a variety of purposes. These can be used to conceal existing walls, extend an old wall, and repair structural problems with the wall, and also used for soundproofing. Another application of wall panels is that to save money; individuals could install these wall panels on their own despite hiring contractors. Wall panels not only enhance the appearance and depth of a room, but they also help to insulate it.
Wall paneling is warm and provides both thermal and acoustic insulation. Thus, due to such benefits, wall panels are increasingly used in residential and commercial buildings, which is likely to boost the growth of the segment of the global wallcovering market during the forecast period.
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APAC is estimated to contribute 63% 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. APAC is the largest geographical segment of the global wallcovering market in 2022 and will continue to remain the largest segment during the forecast period. Growth in residential and commercial construction activities and increasing trend of wall decoration, particularly among the millennial population, will augment the growth of the regional wallcovering market during the forecast period. China, India, and Japan are the major contributors to the wallcovering market in APAC.
The market is witnessing growth driven by ongoing construction activities and renovation projects in both residential and commercial buildings. Consumers are increasingly opting for personalized interior design solutions, leading to a rise in demand for a variety of wallcovering options. These include wall panels, tiles, and metallic wall coverings, among others. Manufacturers are focusing on offering a wide range of textures, colors, and designs to cater to the diverse needs of consumers. Additionally, the use of innovative materials such as textured fabrics and vinyl is gaining popularity in the interior designing field, especially for living rooms, bedrooms, and commercial spaces. Our researchers analyzed the data with 2022 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 global wallpaper market is being driven by the growth of the construction industry. This growth can be attributed to various factors such as an increase in public expenditure, population, per capita income, and economic growth in developing countries like India. There has been a surge in the demand for wall coverings, driven by the increasing need for constructing residential and commercial buildings worldwide. Governments of various countries are heavily investing in the development of smart cities that offer better transportation, smart grids, improved healthcare services, advanced technologies, and traffic management systems.
This investment is aimed at enhancing the infrastructure of residential buildings, office spaces, and commercial buildings. As a result, there has been an increased demand for wall coverings such as textured fabrics and wallpaper sheets, which are used for interior and exterior design purposes. This trend in construction projects is leading to an increase in the demand for wall coverings, which are used to provide an aesthetic look to building walls and for interior and exterior design purposes. In particular, the governments of India, Saudi Arabia, and Qatar are making significant investments in smart city development. As the demand for wall coverings continues to increase due to construction growth, the global wallpaper market is expected to experience growth during the forecast period.
One of the major trends driving the growth of the wallpaper market is the availability of personalized and customized wall decor products. Consumers' desire to personalize their wallpaper is increasingly becoming a crucial factor influencing purchasing decisions. This trend is prompting retailers to prioritize providing personalized services to their customers, utilizing print-on-demand (POD), a unique application of digital printing mainly used for personalization services.
POD technology is utilized in various services, including personalized bedroom walls featuring a name, photo, horoscope, or personal items, picture frames, or wall art in the living room with custom group photos, or any other wall decorative items. companies of wallcovering products offer customization options to their customers at both macro and micro levels, enabling them to choose products based on their customization requirements. Retailers such as Walmart and Amazon are also offering customization services, with Amazon's exclusive customization service in the wall decor space, known as Amazon Prints, enabling customers to personalize their orders on their own.The increasing demand for personalized wallcoverings is expected to drive market growth during the forecast period.
The rising competition is a major challenge to the market growth. In the global wallpaper market, manufacturers have both organized and unorganized formats. They compete on parameters such as product mix, premium, differentiation, and pricing. The entry of new players and brands into the market makes the competition even tighter. This leads to a price war, which further degrades the product quality, and negatively affects the market during the forecast period.
Moreover, market competition and price wars increase the need for cost optimization and operational efficiency necessary in the pricing strategy. It lowers profit margins to maintain the market by offering products at lower prices. Some retailers are also closing stores due to poor performance and an inability to streamline operations. Thus, all these factors are expected to negatively impact the growth of the global wallpaper market during the forecast period.
The market 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 research report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market 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- The company offers various wallpaper under various brands such as Wallstar Digital, Walls, Wall liners, and Wallstar. Also, through this segment, the company develops and produces high-performance filtration materials for engine oils, fuels, and air.
The wallpaper market report also includes detailed analyses of the competitive landscape of the market and information about 15 market 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.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
The market is driven by design and innovation, offering a wide range of options for residential areas, commercial complexes, and infrastructural projects. With a focus on aesthetics and functional benefits, consumers and designers seek materials with durability, moisture resistance, and fire resistance. Engineers and architects collaborate to ensure easy installation and maintenance of products like insulated wall panels and solid paper. As the industry embraces eco-friendliness and sustainability, manufacturers are exploring recycled materials and low-VOC paints. Digital printing technologies and online visualization tools enhance design flexibility and consumer inclination towards innovative product variants in the market.
Market Scope |
|
Report Coverage |
Details |
Page number |
153 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.7% |
Market growth 2023-2027 |
USD 5.49 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.56 |
Regional analysis |
APAC, North America, Europe, Middle East and Africa, and South America |
Performing market contribution |
APAC at 63% |
Key countries |
US, China, 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 Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for 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. |
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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 Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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