IMARC Group, a leading market research company, has recently releases report titled “Wall Covering Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032” The global wall covering market size reached US$ 37.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 53.5 Billion by 2032, exhibiting a growth rate (CAGR) of 3.8% during 2024-2032.
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Factors Affecting the Growth of the Wall Covering Industry:
Technological Advancements:
Modern production techniques are enabling manufacturers to create high-quality, durable, and aesthetically diverse wall coverings. Digital printing technologies are facilitating custom designs, intricate patterns, and vivid colors. These advancements not only expand the range of available designs but also improve the functionality of wall coverings, making them more resistant to wear and tear, easier to install and maintain, and adaptable to different environments. The integration of smart technologies, such as thermal regulation and interactive surfaces, is further enhancing the appeal of modern wall coverings, catering to tech-savvy people seeking innovative and functional interior solutions.
Advancements in E-Commerce and Online Retail:
The increasing number of online channels are offering buyers a wider array of choices, convenience in browsing and purchasing, and often competitive pricing. They also provide a platform for smaller or niche wall covering manufacturers to reach a broader audience, which, in turn, introduces more diverse and innovative products to the market. Additionally, the rise of online tools for interior design planning, where individuals can visualize wall coverings in their own space before purchasing, is enhancing the appeal of buying wall coverings online. This shift to digital retailing aligns with the increasing comfort of individuals in making significant home decor purchases online and is crucial in driving the expansion and accessibility of the wall covering market.
Rise of Do-It-Yourself (DIY) Culture:
The rising popularity of do-it-yourself (DIY) home improvement projects is contributing to the market growth. This is driven by the large volume of online resources, including tutorials, blogs, and video content, which is encouraging homeowners to undertake DIY projects to personalize their living spaces. This trend is particularly strong among the younger population, who value customization and hands-on involvement in home decor. Wall coverings that are easy to install and remove, including peel-and-stick wallpaper, are gaining popularity in this segment. This DIY movement not only drives sales in the buyer segment but also encourages innovation in product design, focusing on ease of installation and versatility.
key players operating in the wall covering industry?
S. Création Tapeten AG
Ahlstrom-Munksjö Oyj
Architonic
Asian Paints Ltd
Brewster Home Fashion
Schumacher & Co.
Grandeco Wallfashion Group
Josephson Inc.
Osborne & Little
Saint-Gobain
Sanderson Design Group
York Wallcoverings Inc.
Wall Covering Market Report Segmentation:
By Product Type:
Wall Panel
Wall Paper
Vinyl Wallpaper
Non-woven Wallpaper
Paper-based Wallpaper
Fabric Wallpaper
Others
Tile
Metal Wall Covering
Others
Tile exhibits a clear dominance in the market due to its versatility, durability, and aesthetic appeal, making it a popular choice among people and businesses alike.
By Printing Type:
Digital
Traditional
Traditional accounts for the majority of the market share as it is a well-established and widely accepted method, offering a timeless and classic look that appeals to a broad audience.
By Application:
New Construction
Renovation
New construction represents the largest segment on account of the growing construction activities and the need for wall coverings in newly built structures.
By End User:
Commercial
Residential
Residential holds the biggest market share as it caters to a larger user base, including homeowners and apartment dwellers, who often seek wall coverings for personal and decorative purposes.
Regional Insights:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
Asia Pacific dominates the market, which can be attributed rapid urbanization, inflating disposable income levels and rising construction activities in the region.
Global Wall Covering Market Trends:
The rising preferences for wall coverings that are made from renewable resources, recycled materials, and natural fibers is contributing to the market growth. This trend is not only about using environmentally safe materials but also about adopting manufacturing processes that minimize carbon footprints and reduce waste. Moreover, wall coverings with eco-certifications are gaining traction, reflecting a broader shift towards sustainable living. Individuals are seeking products that align with their environmental values, making sustainability a critical factor in their purchasing decisions.
Other Key Points Covered in the Report:
COVID-19 Impact
Porters Five Forces Analysis
Value Chain Analysis
Strategic Recommendations
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