Wallpaper Market Size, Share, Growth Strategies, Trend Forecast To 2027
Global Wallpaper Market:
The changing tastes of customers and the expanding palette of colors and shades have expanded the collection of wallpapers annually. Residential and commercial complexes utilize wallpapers for creating a complacent atmosphere and improve the aesthetic appeal. The global wallpaper market report by Market Research Future (MRFR) combines drivers, trends, opportunities, and challenges for the period of 2018 to 2023 (forecast period). The COVID-19 pandemic and its effects on the industry are highlighted and expounded in the report.
Get Free Sample Report in PDF Format @ https://www.marketresearchfuture.com/sample_request/7306
Market Scope
The global wallpaper market is expected to witness a CAGR of around 4.52% during the forecast period to reach a value of USD 29.15 billion by 2023. The market is driven by growth in interior designing, changing aesthetic tastes, and availability of advanced materials. The expansion of the real estate sector, resurgence of construction industry, and rise of renovation and remodeling projects can fuel the market growth.
The cropping of environmental issues has led to the development of eco-friendly wallpapers bolstering the market demand in the coming years. Focus on durability and aesthetics for attracting potential clients and customers in luxe residential and commercial spaces can favor the market greatly. Investments in commercial spaces and rise of customized workplaces will lead to renewed demand for wallpapers to create the ambience for employees. Wallpaper murals and other designs for complementing interiors of houses and offices can drive the demand significantly.
Segmentation
Based on type, the market has been segmented into fabric, vinyl, nonwoven, paper, and others. Vinyl segment holds a significant share in the market due to its impressive characteristics. Vinyl wallpapers are resistant to oil/grease and moisture than paper-based wallpapers and are generally fit to be used in bathrooms and kitchens. The conventional patterns and inclination of customers towards nostalgic designs can drive the segment demand over the forecast period.
Based on end-user, the segment is classified into residential construction and non-residential construction. The residential segment was the fastest growing segment in 2017 owing to the increasing demand from the Asia Pacific. The fast-growing economies in the region along with rapid urbanization, renovation/remodeling projects, and infrastructure construction have offered opportunities to foreign contractors to enter the market. Furthermore, the increasing renovation and remodeling projects in private construction segment have further widened the scope for wallpapers by the developers and interior designers both. Pastel wallpapers designed for the kitchen and for resisting splashes and odors of cooking can drive the segment demand in the global wallpaper market.
Regional Analysis
The global wallpaper market covers the regions of North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
APAC has witnessed maximum growth in the wallpaper market. The significant market size is attributed to the increasing number of construction projects supported by significant infrastructure expenditure occurring in countries such as China, Japan, Australia, Singapore, Philippines, Taiwan, Thailand, Myanmar, Vietnam, and others. China held the largest market size in the region due to the unparallel growth of the construction industry. North America and Europe holds a sizeable share in the market after APAC in 2017 with similar trends witnessed during the forecast period.
The North America wallpaper market is set for massive growth owing to increase in disposable income levels of customers and renovation projects in the U.S. Advent of new graphic design tools and ability of reproducing patterns seamlessly at a rapid pace can culminate in high market demand in the coming years.
Competitive Outlook
Akzo Nobel N.V., Wayfair LLC, Asian Paints Ltd, York Wallcoverings, Dal-Tile Corporation, 4walls, Ahlstrom Corporation, Benjamin Moore & Co., and Brewster Home Fashions LLC are key players of the global wallpaper market.
Complete Business Report@ https://www.marketresearchfuture.com/reports/wallpaper-market-7306
About Market Research Future:
Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
Our rapidly expanding market research company is assisted by a competent team of research analysts who provide useful analytics and data on technological and economic developments. Our deemed analysts make industrial visits and collect valuable information from influential market players. Our main goal is to keep our clients informed of new opportunities and challenges in various markets. We offer step-by-step assistance to our valued clients through strategic and consulting services to reach managerial and actionable decisions.
Contact Us:
Market Research Future
Office No. 524/528, Amanora Chambers
Magarpatta Road, Hadapsar
Pune - 411028
Maharashtra, India
+1 646 845 9312
Email: sales@marketresearchfuture.com
Related Reports:
- Art
- Causes
- Crafts
- Dance
- Drinks
- Film
- Fitness
- Food
- Games
- Gardening
- Health
- Home
- Literature
- Music
- Networking
- Other
- Party
- Religion
- Shopping
- Sports
- Theater
- Wellness
Arabic
French
Spanish
Portuguese
Deutsch
Turkish
Dutch
Italiano
Russian
Romaian
Portuguese (Brazil)
Greek