The global Wallpaper market size is expected to be worth around US$ 10.2 billion by 2030, according to a new report by Vision Research Reports.
The global Wallpaper market size was valued at US$ 2.66 billion in 2020 and is anticipated to grow at a CAGR of 10.7% during forecast period 2021 to 2030.
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Rising home renovation activities, coupled with technological advancements in printing techniques for wallpapers, has been significantly driving the product demand. Furthermore, rising disposable income, a shift in consumer preferences, and increasing DIY projects involving the usage of wallpapers are expected to drive the market in the coming years.
Furthermore, increasing demand for stain-resistant and eco-friendly wallpapers is driving the market. Several manufacturers are testing the humidity levels and providing products and solutions to combat issues regarding bacterial growth due to the wallpapers. Moreover, companies, such as Sangetsu and York Wallcoverings, have launched several products, which are stain- and damage-resistant.
The COVID-19 pandemic had a major impact on the industry, as several businesses were closed to enforce stringent regulations in view of the spreading infection. The shutdown of major regions, such as China and South Korea, which are one of the major suppliers for raw materials, has impacted wallpaper producers globally. The shortage in supply of raw materials like wood pulp, vinyl, and ink from manufacturers has resulted in a demand-supply gap.
The vinyl product segment accounted for the largest revenue share of over 46% in 2020 owing to the high functionality provided by these materials. Furthermore, damaged vinyl wallpaper can easily be repaired and are easy to clean. Vinyl’s fire-resistant properties make it a desirable choice for the production of wallpapers, particularly for application in high-traffic areas like schools and medical centers.
The high preference for eco-friendly wallpapers is another factor propelling the demand for vinyl-based products. For instance, the energy required to produce vinyl wallpapers is only half of the amount that is required to manufacture paper wallcoverings. Moreover, as per the Vinyl Institute (VI), the recycling of this material in the U.S. and Canada augmented by 70 million pounds in 2016, recycling more than 1.1 million pounds, collectively. This is expected to boost the growth of the vinyl segment over the coming years.
On the basis of end-use, the global market has been categorized into residential and commercial segments. The commercial segment accounted for the largest revenue share of more than 52% in 2020. The segment will expand further at a steady CAGR from 2021 to 2030, maintaining the leading position. A rise in the number of high-traffic spaces like bars, clubs, and restaurants across the globe is the key factor driving the demand for wallpapers in the commercial segment.
On the other hand, the residential end-use segment is projected to register the fastest CAGR of more than 10.5% from 2021 to 2030. Some of the major factors driving the product demand in the residential sector include rapid urbanization and a growing number of residential construction projects as a result of the rising trend of nuclear families across several major regions.
In 2020, North America accounted for the maximum revenue share of more than 47% in 2020 and will retain the leading position throughout the forecast period. A rise in disposable income and increasing demand for home improvement products are the key factors anticipated to drive the regional market growth over the forecast period. Furthermore, various governments in the region are supporting renovation activities to develop energy-efficient buildings. Such initiatives are providing growth opportunities to the wallpaper industry.
|Market Size||US$ 10.2 billion by 2030|
|Growth Rate||CAGR of 10.7% From 2021 to 2030|
|Forecast Year||2021 to 2030|
|Segments Covered||Product, End-use, Region|
|Companies Mentioned||Sangetsu Corp.; York Wallcoverings, Inc.; Brewster Wallpaper Corp.; F. Schumacher & Co.; AS Creation Tapeten AG; Osborne & Little; The Romo Group; Grandeco; 4Walls; Marburger Tapetenfabrik; Asian Paints|
- Sangetsu Corp.
- York Wallcoverings, Inc.
- F. Schumacher & Co.
- AS Creation Tapeten AG
- Osborne & Little
- The Romo Group
- Marburger Tapetenfabrik
- Asian Paints
- Product Outlook
- End-use Outlook
- Regional Outlook
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Central & South America
- Rest of Central & South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- North America
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
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