Market Analysis
The Wallpaper Market will touch USD 29.15 billion at a 4.52% CAGR between 2018- 2023, states the recent Market Research Future (MRFR) analysis. Wallpaper Industry helps to protect the surface of the wall from scratches or accidental marks along with imparting grandeur and quality to uncovered walls. Besides, it helps in interior decor and, at the same time, customize it through different patterns and colors. Wallpapers are in great demand owing to its alluring features like convenient installation, environmental protection, rich patterns, and color diversity, among others. Fabric, paper, nonwoven, vinyl, and others are the different types of wallpapers that have wide non-residential and residential construction applications.
Various factors are propelling the global wallpaper market share. According to the recent MRFR report, such factors include the rising construction activity, launch of new geometrical patterns, intriguing textures, and bold colors, transforming interior designs and home decor, and growing trend of sustainable development. Additional factors adding market growth include focus to develop eco-friendly products, demand for optimized carbon footprint, the advent of graphic designing, new reproduction capabilities, a rapid rise in urbanization, and rising disposable income.
On the contrary, the high price of specialized wall coverings, changing preference of customers, difficulty in installing or replacing wallpapers, and the current COVID-19 outbreak may deter the global wallpaper market growth during the forecast period.
Market Segmentation
The MRFR report highlights an inclusive segmental analysis of the global wallpaper market based on type and end user.
By type, the global wallpaper market is segmented into fabric, paper, nonwoven, vinyl, and others. Of these, the nonwoven segment will lead the market over the forecast period.
By end user, the global wallpaper market is segmented into non-residential and residential construction. Of these, the residential construction segment will dominate the market over the forecast period.
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Regional Analysis
By region, the global wallpaper market covers the growth opportunities and recent trends across Europe, North America, the Asia Pacific (APAC), & the Rest of the World (RoW). Of these, the APAC region will spearhead the market over the forecast period. Growing investments in R&D activities for advanced materials, booming private construction market, developing construction industry that is attributing to remodeling/renovating projects, infrastructure construction growth, and private housing, rising population, demand for infrastructure, construction, and building, rising foreign investments, and growing non-residential and residential construction sectors are adding to the global wallpaper market growth in the region.
In North America, the global wallpaper market is predicted to have healthy growth over the forecast period. Growing renovation operations, coupled with huge investments being made in home decor, are adding to the global wallpaper market growth in the region. The US holds the utmost share in the market.
In Europe, the global wallpaper market is predicted to have sound growth over the forecast period.
In the Rest of the World, the global Wallpaper Market Growth is predicted to have steady growth over the forecast period.
Key Players
Key contenders profiled in the global wallpaper market report include Brewster Home Fashions Llc (US), Dal-Tile Corporation (US), Asian Paints Ltd (India), Akzo Nobel N.V. (Netherlands), 4walls (US), Wayfair LLC (US), Benjamin Moore & Co. (US), Ahlstrom Corporation (Finland), and York Wallcoverings (U.S.). Industry players have incorporated several strategies to stay at the forefront and also cater to consumers burgeoning needs such as mergers and acquisitions, collaborations and joint ventures, partnerships, strategic alliances, geographic expansions, extensive research and development activities, contracts, new product development, and new product launches among others.
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