Global Wallpaper Market Size Spurred by Disposable Income Levels of Customers
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 Size 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.
Market Scope
The global Wallpaper Market Size 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.
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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 Size.
Regional Analysis
The global Wallpaper Market Size 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 Size. 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 Trends Size 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
Trends Size.
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Key
Questions Addressed by the Report
- What
was the historic market size?
- Which
segmentation (Product/ Capacity) is driving market?
- What
will be the growth rate?
- How
are the key players in this market?
- What
are the strategies adopted by key players?
TABLE
OF CONTENTS
1
EXECUTIVE SUMMARY
2
SCOPE OF THE REPORT
2.1
MARKET DEFINITION
2.2
SCOPE OF THE STUDY
2.2.1
DEFINITION
2.2.2
RESEARCH OBJECTIVE
2.2.3
ASSUMPTIONS
2.2.4
LIMITATIONS
2.3
RESEARCH PROCESS
2.3.1
PRIMARY RESEARCH
2.3.2
SECONDARY RESEARCH
2.4
MARKET SIZE ESTIMATION
2.5
FORECAST MODEL
3
MARKET LANDSCAPE
3.1.1
THREAT OF NEW ENTRANTS
3.1.2
BARGAINING POWER OF BUYERS
3.1.3
THREAT OF SUBSTITUTES
3.1.4
SEGMENT RIVALRY
3.1.5
BARGAINING POWER OF BUYERS
3.2
VALUE CHAIN/SUPPLY CHAIN ANALYSIS
4
MARKET DYNAMICS
4.1
INTRODUCTION
4.2
MARKET DRIVERS
4.3
MARKET RESTRAINTS
4.4
MARKET OPPORTUNITIES
4.5
MARKET TRENDS
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