Effervescent Innovations Open Up Lucrative Opportunities for Wall Coverings in Home Decoration

Effervescent innovations in smart functionality, designs, and color themes engineered to meet the demands of modern consumers are poised to drive the global market for Wall Coverings to exceed US$41 billion by 2024.

The global wall coverings market is expected to maintain its growth momentum in the coming years driven by the transforming interior design and home décor trends, introduction of a broad range of viable wallpapers, wall panels and environment-friendly interior paints with unique styles and enhanced shelf 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.

Healthy growth is projected for the market in the coming years driven by the surging popularity of smart intelligent tiles, and digitally printed stylish and creative wall covering solutions. Smart tiles are made from smart materials and capable of active responding in a useful, reproducible and reversible manner to stimulus from surrounding environment, while ongoing technological advancements in digital printing are allowing wall coverings to be customized, creating unique and exciting designs in response to changing preferences for trendy one-of-a-kind walls. 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; and acoustic wall coverings. 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. 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.

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. Strengthening residential construction activity, huge markets such as China and India transitioning from primarily rural-based societies to modernized urban-based global economies, growing need for improved accommodation, exponential increase in urbanization, improving disposable income levels, expanding middle class and their changing attitude towards interior and exterior design and decoration represent primary 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., 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 - Market Analysis, Trends, and Forecasts” 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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