The scope of our recent study on the "Wallpaper Market Forecast to 2031 - Global Analysis - by Type, End Use, and Geography" includes the factors fueling the wallpaper market growth, revenue estimation, and forecast, market share analysis, and the identification of significant market players and their key developments.
The wallpaper market size was valued at US$ 30.55 billion in 2023 is projected to reach US$ 42.55 billion by 2031; it is estimated to register a CAGR of 4.2% from 2023 to 2031.
The non-residential construction sector experiences a continuous need for non-residential developments. According to the US Commerce Department reported an 11.3% increase in total construction spending to US$2.05 trillion as of November 2022. Actual construction spending reached US$ 1.8 billion through November 2023, 6.2% higher than the previous year. Private non-residential construction spending reached US$698.2 billion, private residential construction at US$896.8 billion, and public construction at US$ 455.1 billion. The construction of hotels, resorts, shopping malls, office towers, and entertainment complexes to cater to the growing influx of population and businesses has aided the demand growth of wallpapers. Furthermore, the increased demand for non-residential and institutional spaces, including offices, retail stores, hospitals, and educational facilities, has led to a surge in the need for quality and visually appealing wallcovering to enhance these spaces' interior design and ambiance. Manufacturers are responding to this demand growth by introducing innovative wallpaper designs, textures, and materials catering to the non-residential construction sector's aesthetic preferences and functional requirements. Thus, the proliferating non-residential construction sector drives the wallpaper market.
Vinyl-based wallpaper is gaining popularity among customers owing to its wide range of advantages for both residential and commercial applications. The durability and longevity of vinyl-based wallpaper are among its key benefits; the robust, scratch-resistant nature of vinyl allows it to withstand wear and tear, particularly in high-traffic areas, while maintaining its water-vibrant colors and patterns over time. In addition, the water resistance and washability properties of vinyl-based wallpaper make it ideal for moisture-prone areas such as bathrooms and kitchens, where easy cleaning is essential. This practicality of vinyl-based wallpaper, combined with a wide range of design options enabled by modern printing technologies, allows for creative integration into various designs. This type of wallpaper is also easier to install and remove compared to traditional paper-based options, making them more user-friendly-especially for those who frequently change their décor. Further, a few vinyl wallpapers are designed with low VOC emission, improving indoor air quality and catering to eco-conscious consumers. Thus, the advantages of vinyl-based wallpaper fuel the wallpaper market growth.
Vinyl-based wallpaper is gaining popularity among customers owing to its wide range of advantages for both residential and commercial applications. The durability and longevity of vinyl-based wallpaper are among its key benefits; the robust, scratch-resistant nature of vinyl allows it to withstand wear and tear, particularly in high-traffic areas, while maintaining its water-vibrant colors and patterns over time. In addition, the water resistance and washability properties of vinyl-based wallpaper make it ideal for moisture-prone areas such as bathrooms and kitchens, where easy cleaning is essential. This practicality of vinyl-based wallpaper, combined with a wide range of design options enabled by modern printing technologies, allows for creative integration into various designs. This type of wallpaper is also easier to install and remove compared to traditional paper-based options, making them more user-friendly-especially for those who frequently change their décor. Further, a few vinyl wallpapers are designed with low VOC emission, improving indoor air quality and catering to eco-conscious consumers. Thus, the advantages of vinyl-based wallpaper fuel the wallpaper market growth.
Asia Pacific accounted for a remarkable share of the wallpaper market in 2023. China and India are the largest markets for wallpaper in Europe. China is one of the fastest-growing economies worldwide. Almost all industries in the country are flourishing owing to improving living standards, increasing population, and growing per capita income. As per the International Trade Administration, China is the largest construction market worldwide. The total investment in new infrastructure during the 14th Five-Year Plan period (2021-2025) will reach approximately US$ 4.2 trillion (27 trillion yuan). In addition to the continuous population growth, rising household income levels and the increasing number of people migrating from rural to urban areas favor the proliferation of the residential construction industry in the country. The augmented focus on affordable housing by the public and private sectors further contributes to progress in the residential construction industry, thereby boosting the demand for wallpaper.
Several emerging enterprises seeking cost-efficient manufacturing units are venturing into the Indian marketplace. Several international and domestic wallpaper manufacturers are setting up their production units in India owing to the availability of cheap labor in the country. According to Invest India, estimated FDIs in the construction development sector (housing, townships, built-up infrastructure, and construction development projects) and construction (infrastructure) activities reached US$ 24.72 billion in March 2021 from US$ 26.08 billion in April 2000. By 2025, the construction business in India is expected to become the third largest sector in the world. Further, government initiatives such as Housing for All are boosting the residential construction sector. Thus, the steady growth of the building & construction industry is supporting the expansion of the wallpaper market in India.
Based on end use, the residential segment is projected to register the fastest CAGR from 2023 to 2031. In the residential sector, wallpaper is used in new buildings and home renovations. Wallpaper provides a variety of options compared to other wall renovation alternatives, such as painting and tiling. For example, wallpaper provides the option of personalization in each room in a house. It is an efficient alternative to paints; with wallpaper, consumers do not experience issues associated with paints, such as yellowing, peeling, or seeping. Further, wallpaper is an economical solution compared to other wallcoverings.
Asia Pacific is expected to register the fastest CAGR in the global wallpaper market from 2023 to 2031. The market for wallpapers is rapidly growing across the Asia Pacific, driven by rising urbanization, surging disposable incomes, and growing interest in interior design. As countries in this region experience economic growth, the demand for aesthetically appealing home and office interiors has increased. Wallpaper, being a cost-effective and versatile option for interior decoration, has gained popularity among consumers. Further, the rise in housing developments and a surge in the urban middle-class population are a few factors driving the wallpaper market in Asia Pacific. Asia Pacific has been recognized as one of the prominent markets for wallpaper owing to the surge in construction activities. For instance, government initiatives and policies such as Make-in-India encourage the construction of manufacturing plants in India. The growing number of wallpaper users in numerous residential and commercial sectors will continue to fuel the demand for wallpapers in Asia Pacific during the forecast period. For instance, the construction industry in India is the second largest industry after agriculture, accounting for ~11% of the country's GDP.
The report includes the segmentation of the global wallpaper market as follows:
The global wallpaper market is segmented based on type and end use. Based on type, the market is segmented into paper based, vinyl based, fabric based, and others. By end use, the market is bifurcated into residential and non-residential.
By geography, the market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The North America market is further segmented into the US, Canada, and Mexico. The wallpaper market in Europe is sub-segmented into Germany, France, the UK, Italy, Spain, and the Rest of Europe. The Asia Pacific wallpaper market is further categorized into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The market in the Middle East & Africa is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The South & Central America market is further categorized into Brazil, Argentina, and the Rest of South & Central America.
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