The wall covering product market value is expected to rise from USD 35,758.4 million in 2024 to USD 54,478.1 million by 2034. This market is analyzed to surge ahead at a CAGR of 4.3% over the next decade.
The increasing global population is creating a demand for more housing. This is raising the activity for residential construction which translates to a greater demand for wall coverings in renovations and new buildings.
Growing desire for personalized interiors is fueling demand for wall coverings with distinct textures, designs, and even customizable options serving this trend. Additionally, constant innovation in wall coverings, like the introduction of fire retardancy, easy installation, water resistance, and even air-purifying properties, are making wall coverings an attractive option for homeowners.
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Manufacturers are developing eco-friendly wall coverings from natural fibers, recycled materials, and with minimal environmental impact during production. Thus, appealing to the environmentally conscious consumers.
“Players are investing in innovation to influence market trends over the forecast period. Additionally, players can be seen developing user-friendly apps to assist customers in visualizing the final look of their selected wall covering product.” says an analyst of Future Market Insights.
Key Takeaways from the Wall Covering Product Market Report
- The wall covering product market expanded at a CAGR of 4% from 2019 to 2023.
- Based on type, the wallpapers segment is expected to attain a value share of 39.2% in 2024.
- By application, the residential sector is predicted to account for a valuation of 45.8% in 2024.
- Demand for wall covering products in India and China is predicted to remain moderate over the forecast period. India is expected to register a CAGR of 6.2% over the forecast period. China is projected to expand at a CAGR of 5.7% over the estimated period.
- The United States is predicted to experience a CAGR of 2.5% over the forecast period.
- Germany is anticipated to register a CAGR of 2.9% through 2034.
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Competitive Landscape
Key players are developing wallpapers with innovative patterns, textures, and capability for custom printing to meet the consumer demand for unique and customized spaces. Further, manufacturers are developing wall coverings from natural fibers, and recycled materials, and even integrating improved air quality features.
Players are innovating wall coverings with functional enhancements like soundproofing, moisture resistance, and even fire retardancy to serve specific needs. The increasing eCommerce surge has made online sales a key focus. Industry players are also developing user-friendly online stores and providing features like virtual design tools to assist customers in visualizing the final look.
Key Players Are:
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., and Grandeco Wallfashion Group
Latest Developments Shaping the Wall Covering Product Market
- Asian Paints, a competitor in the coatings and home decor market, introduced the latest collection of wallpapers in January 2023. The new collection featured unique designs and sustainable materials, serving the expanding consumer demand for such home décor options. The company also improved its app functionality by integrating augmented reality features. Thus, allowing customers to visualize various wallpaper options before making a purchase.
- York Wallcoverings revealed a series of collaborations with world-recognized designers in January 2023. These collaborations include the creation of exclusive wallpaper collections, uniting traditional craftsmanship with modern aesthetics. These collections are made with advanced materials and printing techniques. Thus, showcasing the company’s commitment to blending artistic expression with high-quality manufacturing standards.
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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
About Future Market Insights (FMI)
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 ~400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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