Wall Covering Products Market Shielded Surge to US$ 50.8 Billion by 2032 | FMI

Wall Covering Products Market

Over the forecast period, the wall covering goods market is anticipated to grow at a compound annual growth rate of 4.5%. By 2032, its valuation is expected to have increased from US$ 31.3 billion in 2021 to US$ 50.8 billion.

The wall covering products market is anticipated to show promising growth prospects during the forecast period as a result of growing competition. New competitors are offering a variety of options at reasonable pricing to fulfil the demand for wallpaper making it more accessible to customers in the global wall covering products market.

  • The increasing disposable income and a rapid growth in urbanization have been significantly driving the transformation of human social roots on a global scale, by predominantly replacing rural culture which has resulted in the increased usage of wall coverings, along with other modern products.
  • Residential constructions account for a substantial market share in the wallpaper market and are expected to witness a significant growth rate. The employment opportunities and population growth are fundamental drivers of rising demand for new housing as sustained population growth across the world has led to increased demand for wall dwellings, including apartments.
  • Moreover, with the advent of graphic designing, along with new reproduction capabilities, wallpaper is set to become the next big disrupter in the world of design and décor. Recently, some of the regions of emerging economies of Europe witnessed a considerable rise in the demand for textile wall coverings, owing to which, there has been an increase in the number of imports of textile coverings.
  • Nevertheless, the development of products, such as wallpaper borders, custom wallpaper, and textured wallpaper, is expected to renew the stagnant product category. Also, with advances in wallpaper technology, which make these products easier to apply and remove, are expected to expand sales opportunities, thereby, fuelling the market growth.

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Scope of the Report

Wall covering protects the wall surface from accidental marks or scratches, besides imparting an air of quality and grandeur to uncovered walls. They further help in neutralizing the interior and customizing it with the help of various colors and patterns.

Also, these coverings are cost-effective. The two common areas of applications of wall coverings include residential and commercial. Residential wall coverings are mainly used in homes and in small businesses to add attractiveness to rooms and to express an individual style. The market is segmented by product type, application, distribution types across various geographies.

Wall Panel is Expected to Register a Significant Growth

  • Panels include wooden panels and laminates, which are used for covering walls effectively, while also providing protection from the external environment. The usage of wall panels can reduce the construction costs significantly by providing a consistent appearance to the paneled surface without the requirement of application of paint or some other finishing material.
  • Advancements in the market have been in the form of insulated wall panels, which provide superior and uniform insulation, in comparison with more common methods of house construction.
  • The adoption of panels results in an enhanced aesthetic appeal. The wall covers with fewer joints also offer several practical gains, as they are easier to install than separate single tiles and considerable time can be saved during the renovation process.
  • Moreover, wall panels are increasingly popular as an alternative to ceramic tiling in both kitchens and bathrooms. It was once known as the low-end product used mainly in social housing and large scale public sector projects.

North America is Expected to Hold Significant Market Share

  • In the United States, for instance, the public residential building’s construction spending rose from USD 5.07 billion in 2014 to USD 6.55 billion in 2019, according to the United States Census Bureau.
  • With this, huge investments were made in home décor and home improvements, in the United States, which propelled the wall covering the market in the country. The similar trend of rising residential constructions, owing to the increasing population across the world, is expected to drive the demand for wall coverings.

Competitive Landscape

  • ADFORS, Architonic
  • A.S. Création Group
  • Brewster Home Fashion
  • Asian Paints Limited (APL)
  • Marazzi Group
  • Walker Greenbank PLC
  • Benjamin Moore & Co.
  • Ahlstrom-Munksjö Oyj
  • Nippon Paint Holdings Co. Ltd
  • J. Josephson Inc
  • Grandeco Wallfashion Group

The wall covering the market is quite fragmented and consists of several players. The companies in the market tend to partner with international designers to make the wall coverings aesthetically pleasant to the eye, and manage to incorporated latest designs and punchy colors and to perfectly enhance the home interiors, shops, hotels, cafés, and restaurants, as well as exhibition stands and public buildings.

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Key Segments For Wall Covering Products Market

By Type:

  • Tiles
  • Fabric coverings
  • Wallpapers
  • Paints
  • Wood coverings

By Application:

  • Residential
  • Commercial

By Distribution Channel:

  • Direct
  • Indirect
  • Hypermarket/Supermarket
  • Specialty Stores
  • Independent Stores
  • Online Store
  • Others

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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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