Wallpaper Market Growth & Trends
The global wallpaper market size is expected to reach USD 2.44 billion by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to register a CAGR of 4.3% from 2022 to 2030. The growth is primarily driven by the rising disposable income, the growing trend of home remodeling, and the major initiatives taken by market players to offer a variety of products. Commercial uses of wallpaper in hotels, restaurants, and hospitals across the globe are expected to boost the growth of the residential wallpaper industry.
The market is highly competitive due to the presence of a high number of companies with vast strong brand images, geographic presence, and wide distribution networks. Market players are expected to increase their focus on innovation with increasing R&D activities. For instance, in September 2020, AS Creation Tapeten AG revised the online shop with new functions like motifs and room configurators. These functions allow digital prints to be applied to individual walls and wallpapers.
Key players in the industry are concentrating on the launch of eco-friendly and aesthetically pleasing wallpaper in different designs and styles. Consumers are preferring peel and stick wallpapers as these are easy to use. Various firms are implementing strategies such as partnerships and acquisitions to gain market share. For instance, Blik Inc. introduced new self-adhesive removable wallpapers with new designs and sizes for interiors and exteriors, accelerating the sales of removable wallpaper.
North America held the largest revenue share in 2021, owing to the rise in the inclination of people in North America toward home renovation projects that includes personalizing according to their needs and recent trends. For instance, according to a remodeling survey from the National Association of Home Builders, 40% of the houses in North America are more than 50 years old anticipating there will be an increase in renovation spending in the coming years.
Additionally, the rising number of hypermarkets, specialty food stores, and supermarkets across the globe has significantly boosted the adoption of Residential Wallpapers. According to the Food Institute, Costco is expected to open around 22 new warehouses each year, with 75% of them located in the U.S. The retailer also plans to open three new stores in Bradenton, Florida; Bismarck, North Dakota; and Plainfield, Illinois. Similarly, Walmart invested billions in new stores and improvements throughout 2019.
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Wallpaper Market Report Highlights
- Vinyl-based wallpaper was valued at USD 610.4 million in 2021 and is expected to grow at a CAGR of over 3.0% from 2022 to 2030. The demand for vinyl-based wallpaper can be attributed to a high preference for these products in the residential and commercial sectors
- The nonwoven segment is expected to witness a substantial CAGR of around 4.8% from 2022 to 2030. Nonwoven wallpapers remain stable in dry and humid conditions when combined with the printing solution. These wallpapers provide an ideal mix of natural and synthetic fibers which are utilized for producing coffee filters, tea bags, and gauze
- Asia Pacific was valued a USD 348.9 million in 2021 and is expected to register a CAGR of over 5.0% over the forecast period. The region’s hospitality sector is booming as it is one of the popular travel destinations owing to the diversity provided in this region
Access Press Release@ https://www.grandviewresearch.com/press-release/global-wallpaper-market
Wallpaper Market Segmentation
Grand View Research has segmented the global wallpaper market based on product, end-use, and region:
Wallpaper Product Outlook (Revenue, USD Million, 2017 - 2030)
- Vinyl
- Nonwoven
- Paper
- Fabric
- Others
Wallpaper End-use Outlook (Revenue, USD Million, 2017 - 2030)
- Residential
- Commercial
Wallpaper Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
- US.
- Canada
- Europe
- UK.
- Germany
- Asia Pacific
- China
- India
- Central & South America
- Brazil
- Middle East & Africa
- South Africa
List of Key Players in the Wallpaper Market
- Sangetsu Corporation
- York Wall Coverings Inc.
- Brewster Wallpaper Corporation
- Schumacher & Co.
- AS Creation Tapeten AG
- Osborne & Little
- The Romo Group
- Grandeco
- 4walls
- Asian Paints
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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