Wall Covering Products Market to Be Worth US$ 50.8 Billion by 2032 : Future Market Insights Study
12/26/2022, Newark // Future Market Insights, Inc. //
The wall covering products market size is anticipated to increase from US$ 31.3 billion in 2021 to US$ 50.8 billion in 2032. Wall Covering Products Market is anticipated to experience a 4.5% CAGR throughout the predicted period
The wall covering products market is anticipated to show promising growth prospects during the forecast period as a result of growing competition. New competitors are offering a variety of options at reasonable pricing to fulfil the demand for wall covering products making it more accessible to customers in the global wall covering products market.
Impact of COVID 19
With the recent outbreak of COVID 19, the wall covering market is expected to decline due to decrease in advertising across the various part of the world. Moreover, various government are enforcing lockdown of the cities and towns in the country which will also impact the market due to supply chain disruption and closure of many distribution channels.
Get a Sample to Understand More Details@
- The increasing disposable income and a rapid growth in urbanization have been significantly driving the transformation of human social roots on a global scale, by predominantly replacing rural culture which has resulted in the increased usage of wall coverings, along with other modern products.
- Residential constructions account for a substantial market share in the wallpaper market and are expected to witness a significant growth rate. The employment opportunities and population growth are fundamental drivers of rising demand for new housing as sustained population growth across the world has led to increased demand for wall dwellings, including apartments.
- Moreover, with the advent of graphic designing, along with new reproduction capabilities, wallpaper is set to become the next big disrupter in the world of design and décor. Recently, some of the regions of emerging economies of Europe witnessed a considerable rise in the demand for textile wall coverings, owing to which, there has been an increase in the number of imports of textile coverings.
- Nevertheless, the development of products, such as wallpaper borders, custom wallpaper, and textured wallpaper, is expected to renew the stagnant product category. Also, with advances in wallpaper technology, which make these products easier to apply and remove, are expected to expand sales opportunities, thereby, fuelling the market growth.
Scope of the Report
Wall covering protects the wall surface from accidental marks or scratches, besides imparting an air of quality and grandeur to uncovered walls. They further help in neutralizing the interior and customizing it with the help of various colors and patterns.
Also, these coverings are cost-effective. The two common areas of applications of wall coverings include residential and commercial. Residential wall coverings are mainly used in homes and in small businesses to add attractiveness to rooms and to express an individual style. The market is segmented by product type, application, distribution types across various geographies.
For any Queries Linked with the Report, Ask an Analyst@
Wall Panel is Expected to Register a Significant Growth
- Panels include wooden panels and laminates, which are used for covering walls effectively, while also providing protection from the external environment. The usage of wall panels can reduce the construction costs significantly by providing a consistent appearance to the paneled surface without the requirement of application of paint or some other finishing material.
- Advancements in the market have been in the form of insulated wall panels, which provide superior and uniform insulation, in comparison with more common methods of house construction.
- The adoption of panels results in an enhanced aesthetic appeal. The wall covers with fewer joints also offer several practical gains, as they are easier to install than separate single tiles and considerable time can be saved during the renovation process.
- Moreover, wall panels are increasingly popular as an alternative to ceramic tiling in both kitchens and bathrooms. It was once known as the low-end product used mainly in social housing and large scale public sector projects.
North America is Expected to Hold Significant Market Share
- In the United States, for instance, the public residential building’s construction spending rose from USD 5.07 billion in 2014 to USD 6.55 billion in 2019, according to the United States Census Bureau.
- With this, huge investments were made in home décor and home improvements, in the United States, which propelled the wall covering the market in the country. The similar trend of rising residential constructions, owing to the increasing population across the world, is expected to drive the demand for wall coverings.
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
The wall covering the market is quite fragmented and consists of several players. The companies in the market tend to partner with international designers to make the wall coverings aesthetically pleasant to the eye, and manage to incorporated latest designs and punchy colors and to perfectly enhance the home interiors, shops, hotels, cafés, and restaurants, as well as exhibition stands and public buildings.
Use promo code ->> FMITODAY to get flat 30% discount
Key Segments For Wall Covering Products Market
- Fabric coverings
- Wood coverings
By Distribution Channel:
- Specialty Stores
- Independent Stores
- Online Store
Request Complete TOC @
Explore FMI’s Extensive ongoing Coverage on Consumer Product Domain
Retail Vending Machine Market Size: The global retail vending machine market is likely to secure US$ 55 Billion in 2022, and reach US$ 130 Billion by 2032. From 2022-2032, the market is expected to display a CAGR of 9%.
Pet Stain Remover And Odour Control Market Forecast: The global pet stain remover and odour control market is estimated at US$ 8.4 Bn in 2022 and is projected to reach US$ 12.0 Bn by 2032, at a CAGR of 3.6% from 2022 to 2032.
Pet Lodging Market Share: The pet lodging market size is estimated to be valued at US$ 3.1 Billion in 2022 and is projected to reach US$ 5.0 Billion by 2032, expanding at a CAGR of 5% from 2022 to 2032. Share of pet lodging in its parent market (pet care market) is approximately ~1%-2%.
Pet OTC Medication Market Trends: The global pet OTC medication market is estimated to reach US$ 8.5 Bn in 2022 and is projected to reach US$ 13.2 Bn by 2032, with demand surging at a CAGR of 4.5% from 2022 to 2032.
Aquarium Water Treatment Market Analysis: The global aquarium water treatment market size is estimated to be valued at ~US$ 7,320.0 Mn in 2022 and is projected to reach ~US$ 10,835.3 Mn by 2032.
About Future Market Insights, Inc.
Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
For Sales Enquiries: email@example.com
LinkedIn | Twitter | Blogs
The post Wall Covering Products Market to Be Worth US$ 50.8 Billion by 2032 : Future Market Insights Study appeared first on Future Market Insights.
Source: Future Market Insights, Inc.
Release ID: 476907
Original Source of the original story >> Wall Covering Products Market to Be Worth US$ 50.8 Billion by 2032 : Future Market Insights Study
This content is published on behalf of the above source. Please contact them directly for any concern related to the above.
This press release may contain forward-looking statements. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.