Wall covering is a material that is used to decorate the interior & exterior walls of residential and commercial buildings. It protects and prevents the wall surface from moisture and stains. Furthermore, it enhances the appearance and adds beauty to the walls of the buildings. Some of the most popular materials include wallpaper, tiles, & wall panels, and depending on the characteristics of each of them, one or more layers must be applied, changing the final appearance accordingly.
The expansion of the construction sector due to an increase in new construction and refurbishment of existing structures is driving the wall covering market growth. The need for stylish home interior & exterior walls is fueling the market growth. Moreover, the advancement in technology such as digital printing and 3D printing technology is creating a growth opportunity for companies to manufacture wall covering products.
Moreover, renovation and reconstruction of existing homes and commercial properties are expected to drive wall covering market growth. For instance, in the year 2020, the European Commission announced the “Renovation Wave” initiative for public and private buildings. The plan states that the additional investment needed to reach EU 2030 energy and climate targets is around $385 billion annually, with approximately $295 billion for residential and $90 billion for public buildings. Hence, such factors drive the wall coverings market growth. Moreover, key players in the market are launching new wall covering products to sustain demand growth. For instance, in May 2022, Asian Paints Ltd. launched INK handcrafted wall coverings, a new collection of wall coverings for interior and exterior walls. Hence, such factors provide lucrative growth opportunities in the wall covering market.
The market is segmented on the basis of product, application, printing type, end user, and region. On the basis of product, the market is divided into wallpaper, wall-panel, and tiles. By application, the market is divided into new construction and renovation. On the basis of printing type, the market is divided into digital and traditional. By end user, the market is divided into residential and non-residential. Region-wise, the market analysis is conducted across North America, Europe, Asia-Pacific, and LAMEA.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the wall covering market analysis from 2021 to 2031 to identify the prevailing wall covering market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the wall covering market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global wall covering market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Product Type
- Wallpaper
- Wal panel
- Tile
- Material type
- Ceramic
- Vinyl
- Porcelain
- Others
By Printing type
- Digital
- Traditional
By Application
- New Construction
- Renovation
By End User
- Residential
- Non-residential
By Region
- North America
- Canada
- Mexico
- U.S.
- Europe
- Germany
- France
- UK
- Spain
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- A.S. Creation Tapeten AG
- Ahlstrom Munksjo
- Architonic
- Asian Paints Ltd.
- Brewster
- Daltile
- F. Schumacher & Co.
- Grandeco
- J. Josephson Inc.
- Maya Romanoff Corporation
- Nippon Paint Holdings Co. Ltd
- Onmi W.C. Inc.
- Osborne & Little
- Saint Gobain
- Sanderson Design Group
- Waldan Paper Services, LLC
- York WallCoverings
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Table of Contents
Executive Summary
According to the report, titled, “Wall Covering Market," the wall covering market size was valued at $152 billion in 2021, and is estimated to reach $239.7 billion by 2031, growing at a CAGR of 4.7% from 2022 to 2031.Wall covering is used in residential and commercial sector to enhance the interior and exterior walls and to protect the wall surface from stains and moisture. Numerous varieties of wall coverings are available in the market, some for extremely particular and various uses. Wall covering products include wallpaper, wall-panel, and tiles, which are used in different applications such as kitchens, bathrooms, and interior & exterior walls.
The wall covering market has grown due to global expansion of the residential construction and renovation sector. Rise in demand for wallpaper and tile wall covering in the residential construction sector for the purpose of protecting walls have enhanced the look & style of exterior walls, which has propelled the market forward. The governments of various countries have invested in residential sector due to rise in population and for better living standards. For instance, since April 2021, the U.S. government has invested $213 billion to construct and retrofit more than 1 million residential and commercial buildings. It includes the construction of 500,000 homes for low and middle-income homebuyers. In addition, the U.S. government is expected to spend $137 billion on the upgrade of schools and universities. Hence, due to rise in population, these investments in construction sector are anticipated to increase the utilization of wall covering and hence are anticipated to drive growth of the wall covering market forecast period.
Asia-Pacific region has registered the highest wall covering market share in 2021, due to growth in the residential sector owing to rise in population and income level. Furthermore, an increase in renovation activities in developing countries, as well as rise in building construction are expected to provide a wide range of opportunities for wallpaper and tile wall coverings to be used for bathroom walls, kitchen walls, and exterior & interior spaces, boosting the Asia-Pacific wall covering market growth.
However, during the COVID-19 pandemic, various manufacturers in the wall covering market had to stop their business in countries such as China, the U.S., and India. This break directly impacted the sales of wall covering companies. In addition, lack of manpower and raw materials constricted the supply of wall covering products, which negatively influenced the growth of the market. However, the reopening of production facilities and introduction of vaccines for coronavirus disease are anticipated to lead to the re-opening of wall covering companies.
Key Findings of the Study
- The report provides an extensive analysis of the current and emerging global wall covering market trends and dynamics.
- In terms of revenue, the tile segment dominated the market in 2021, and wall panels are expected to grow at a significant CAGR during the wall covering market forecast period
- By application, the new construction segment registered the highest revenue in 2021.
- On the basis of printing type, the traditional segment registered the highest revenue in 2021.
- Asia-Pacific is projected to register the highest growth rate in the coming years.
- The key players within the global wall covering market overview are profiled in this report, and their strategies are analyzed thoroughly, which helps understand the competitive outlook of the wall covering industry.
- The report provides an extensive analysis of the current trends and emerging opportunities in the market.
- An in-depth global wall covering market analysis is conducted by constructing estimations for the key segments between 2022 and 2031.
Companies Mentioned
- A.S. Creation Tapeten AG
- Ahlstrom Munksjo
- Architonic
- Asian Paints Ltd.
- Brewster
- Daltile
- F. Schumacher & Co.
- Grandeco
- J. Josephson Inc.
- Maya Romanoff Corporation
- Nippon Paint Holdings Co. Ltd
- Onmi W.C. Inc.
- Osborne & Little
- Saint Gobain
- Sanderson Design Group
- Waldan Paper Services, LLC
- York Wallcoverings
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 271 |
Published | August 2022 |
Forecast Period | 2021 - 2031 |
Estimated Market Value ( USD | $ 152035.1 million |
Forecasted Market Value ( USD | $ 239732.8 million |
Compound Annual Growth Rate | 4.7% |
Regions Covered | Global |
No. of Companies Mentioned | 17 |