The global wallpaper industry statistics is expected to gain impressive traction over the forthcoming years owing to the increasing focus on better aesthetics and growing trends of interior designing. Further, ease of installation, time-saving process, and a wide variety of choices, along with advanced material technology are all leading to a high demand for wallpapers in the forecast period. Wallpapers have become an addition to the aesthetic and style statement, to impart a personal footprint on the room. The global wallpaper market is estimated to witness a CAGR of 4.52% over the forecast period, as suggested by the Market Research Future (MRFR) report.
Other factors contributing to the ascension of the wallpaper market include the expansion of the real estate sector, construction sector, and rapid urbanization. Apart from that, upscaling demand for residential buildings, along with mounting disposable income has led to a rise in the demand for remodeling and renovation projects. Such demand has provided higher traction to the growth of the global wallpaper market. Moreover, global environmental issues and the rising awareness towards the same is encouraging market players to invest in the research and development of environment-friendly materials, which is setting the global wallpaper market on an impressive growth trajectory.
The global wallpaper market is expected to register a market valuation of USD 29.15 billion through the forecast period, as per the latest analysis provided by Market Research Future (MRFR). Wallpapers have the highest command over the overall look, feel, and style of a room. However, the material is just as important when it comes to function. A lot of emphasis has been put on material development, and such development of advanced materials, along with a rising focus on aesthetics and durability, has led to the momentous growth of the wallpaper market.
The global wallpaper market is segmented by type, end-user, region. Based on type, the MRFR analysis has studied the segments of vinyl, nonwoven, fabric, and paper. Among these, the market is dominated by the vinyl segment during the forecast period. The backing material is one of the most vital things to take into consideration to determine the quality and durability of the wallpaper. Vinyl wallpapers are resistant to oil/grease and moisture, as compared to paper-based wallpapers, which are generally fit to be used in kitchens and bathrooms.
Based on end-users, the global wallpaper market has been studied for the segments of residential construction and non-residential construction. The residential segment is witnessing unparalleled growth, as compared to the non-residential construction segment. This can be owed to the prominent prevalence of hiring interior designers and mounting disposable incomes. Further, growing preference towards the aesthetically pleasing wallpapers has also set the segment on a remarkable growth trajectory over the forecast period.
Detailed Regional Analysis
The global wallpaper market has been studied for the regional segments of North America, Europe, Asia-pacific, and Rest of the world (RoW). Asia Pacific is expected to witness high-speed growth in the wallpaper market owing to the rising adoption of construction activities and government initiatives to develop smart cities in various emerging economies of the region. Among all of Asia Pacific, China, Australia, Singapore, Japan, Thailand, Philippines, Taiwan, Myanmar, and Vietnam are some of the potential growth pockets in the regional wallpaper market.
Wallcoverings (U.S.), Ahlstrom Corporation (Finland), Benjamin Moore & Co. (US), Wayfair LLC (US), 4walls (US), Akzo Nobel N.V. (Netherlands), Asian Paints Ltd (India), Dal-Tile Corporation (US), and Brewster Home Fashions Llc (US) are some prominent players in the market.
October 2019: Maresca Textiles recently launched a new fabric and wallcovering collection which was inspired from the aesthetics of Chicago. These patterns are developed for residential and commercially rated Type 2 wallcovering.