The Global Market for Wall Coverings is Projected to Exceed US$40 Billion by 2024

Growing Demand for Digitally Printed Stylish and Creative Wall Covering Solutions Drives Growth in the Global Wall Coverings Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Wall Coverings market. The global market for Wall Coverings is projected to exceed US$40 billion by 2024, driven by growing demand for digitally printed wall coverings, recovery in construction activity, and launch of stylish and creative products offering versatility, sustainability and extended life.

Wall coverings represent a reliable, durable, and timeless wall decoration option. With their unique features, functionalities, and flexibility in terms of customization and by enabling a variety of choice of color combinations, styles, and designs, wall coverings offer an easy way to design rooms and house as per one’s personality and style. Superior attributes of wall coverings over other decorating options that are driving widespread adoption over the years include its affordability, longevity, user-friendliness, and the ability to protect walls, impart an air of quality and grandeur, neutralize interiors, customize through a variety of patterns and colors, and the capability for great makeovers by making the most of the room’s strengths and masking the weaknesses. Significance of walls in a home sustains perennial demand for various types of wall coverings. Other factors fueling demand include the positive outlook for the global construction industry, and growing number of residential apartments in developing countries to accommodate the rising middle class population.

Future growth in the market will be driven by ongoing technological advancements in digital printing that are allowing wall coverings to be customized, creating unique and exciting designs in response to changing preferences for trendy one-of-a-kind walls. The worldwide increase in geriatric populations is fueling the demand for geriatric homes, hospitals and care centers, which in turn is driving growing interest in vinyl wall coverings. Vinyl wall coverings are long-lasting, scratch proof, impact resistant, flame retardant, hygienic, robust, safe and odorless, which makes them extremely efficient for use in healthcare environments.  Introduction of a broad range of viable wallpapers, wall panels and environment-friendly interior paints with unique styles and enhanced shelf life represent another important growth driver. Few of the many specialized wall coverings with additional functional features that are poised to benefit market prospects in the near term include whiteboard wall coverings; leather wall coverings, magnetic wall coverings; electromagnetic shielding wall covering; scented wallpaper; acoustic wall coverings; and smart wall paper that can power homes by absorbing light, among others. Technological advances such as the inkjet printing technology that enables ceramic wall coverings to imitate any design, texture and look are also expected to boost market growth.

As stated by the new market research report on Wall Coverings, Europe represents the largest market worldwide. Asia-Pacific ranks as the fastest growing market with a projected CAGR of 7.0% over the analysis period. Growing economies with huge populations such as China and India, strengthening construction activity, unpenetrated and underpenetrated nature of the markets, rapid urbanization; expanding middle class and their changing attitude towards interior décor; rising standard of living and the subsequent rise in aspirational spending on branded products represent important growth drivers in the region.

Key players in the market include Ahlstrom-Munksjö Oyj, Akzo Nobel N.V., Asian Paints Limited, Benjamin Moore & Co. Inc., Brewster Home Fashions LLC, British Ceramic Tile, Crossville Inc., EMILCERAMICA S.r.l., Grespania SA, Gruppo Ceramiche Ricchetti SpA, Innovations in Wallcoverings Inc., John Morris Wallcoverings, Johnson Tiles Limited, Laminating Services Inc., Lasselsberger a. s, Mohawk Industries Inc., Nippon Paint Holdings Co. Ltd., Panariagroup Industrie Ceramiche S.p.A., Pilkington Group Limited, PPG Industries Inc., Sherwin-Williams Company, The Valspar Corporation, TIRI Group Ltd., and York Wallcoverings Inc., among others.

The research report titled “Wall Coverings: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Middle East & Africa, and Latin America (Brazil and Rest of Latin America). Product segments analyzed in the report include Wallpaper, Interior Paint, Wall Tile, and Wall Panels.

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