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 fuelling 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.
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.
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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.
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
