Wallpaper market trend shows an increase in global adoption, especially in Asia Pacific region. This region has recorded the highest CAGR over the past few years and is expected to witness increased growth in the coming years as well. Factors driving growth in this region include rising population, urbanization, and stable tourism industry.
Digitally printed wallpapers are growing in demand
The market for digitally printed wallpapers is expanding at a rapid pace globally. It is increasing in both the commercial and residential sectors. In North America, the demand for digitally printed wallpaper is particularly high. It is also becoming increasingly popular in hotels and restaurants. Some of the key players in the market include A.S. Cration Tapeten, 4walls, Asheu Wallpaper Factory, Flavor Paper, Ecosse Signs, Graham & Brown, and Hollywood Monster Ltd.
The report provides in-depth analysis of the digitally printed wallpaper market, including details about the leading companies, global market share, and R&D investment. It also covers the company’s product offerings, recent developments, and regional sales. The report offers detailed market estimations on regional and country-level levels.
While digitally printed wallpapers are mostly used for residential purposes, they are also being used in commercial buildings. These products are gaining popularity in offices, shopping malls, spas, corporate complexes, and hotels. They add a soothing ambiance to the space and enhance the aesthetics of the interiors.
Demand for aesthetics
The demand for aesthetic wallpapers is growing globally, particularly in emerging markets. The global wallpaper market is highly competitive, and there are several global vendors in the market. Some of them include Brewster Wallpaper Corporation, Laura Ashley Holdings PLC, and York Wall Coverings Inc.
The market for wallpaper is growing at a CAGR of 3.87% from 2017 to 2027. This trend can be attributed to the cost effectiveness and sustainability of wallpaper. As a result, wallpapers are replacing traditional wall painting practices. With rising disposable incomes and rapid urbanization, more people are opting for wallpaper as an alternative to traditional wall-painting techniques. This is helping to propel global changes in the social roots of human civilization.
Demand for color diversity
The global wallpaper market can be classified into four distinct regions: North America, Europe, Middle East & Africa, and South America. The North America region comprises the U.S., while Europe comprises countries like Germany, France, and the rest of Europe. The Asia Pacific region includes countries like India, China, and Japan. Middle East & Africa comprises countries like South Africa. The report also includes market segmentation and key players in the industry.
The market for wallpapers can be segmented by installation type, end-user type, and distribution channel. Residential wallpapers are the leading segment, which is sub-segmented into residential and commercial spaces. The commercial segment is further segmented into hotel and restaurant applications.
The growing number of new construction projects worldwide is boosting the global wallpaper market. Additionally, the ease of installation of wallpaper is increasing demand in the industry. Further, wallpaper has fewer harmful chemicals and is more durable than other wall decoration methods. Moreover, increased disposable income and the rise of middle class housing are driving the market growth. However, high prices of specialized wallpapers are limiting the market growth.
Impact of COVID-19 on the market
The global wallpaper market was valued at $2.3 billion in 2021 and is expected to reach $3.2 billion by 2031, growing at a compound annual growth rate of 3.6% during the period. The COVID-19 outbreak has significantly impacted the industry due to its negative impact on the advertising industry, global trade, and consumer spending. The market is segmented based on product type, end-user, and geography.
The global wallpaper market is highly competitive and comprises several key vendors with varied strengths and weaknesses and different business models. The growth of the market is expected to continue in the coming years, with key trends driving the industry. The following sections highlight the competitive landscape, including the growth strategies of the major players in the market.
The residential segment accounted for the largest share in the market in 2021 and is projected to continue growing at a strong CAGR through the forecast period. The residential market is being driven by increasing urbanization and migration from rural to urban areas, as well as increasing purchasing power. Additionally, city-dwellers are increasingly adopting wall-paper as part of their interior decorating strategies.