Wallpaper Market to Reach $3.2 Billion, Globally, by 2031 at 3.6% CAGR: Allied Market Research

Rise in popularity of wallpaper due to its variety of characteristics, such as color diversity, rich patterns, environmental protection, convenient installation, and so on drive the growth of the global wallpaper market. 

PORTLAND, Ore., Nov. 17, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Wallpaper Market by Product Type (Vinyl Based Wallpaper, Non-Woven Wallpaper, Pure Paper Type Wallpaper, Others), by End Users (Residential, Non Residential), by Distribution Channel (Supermarket and Hypermarket, Specialty Store, E commerce): Global Opportunity Analysis and Industry Forecast, 2021-2031". According to the report, the global wallpaper market generated $2.3 billion in 2021, and is anticipated to generate $3.2 billion by 2031, witnessing a CAGR of 3.6% from 2022 to 2031. 

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Prime determinants of growth  

Rise in popularity of wallpaper due to its variety of characteristics, such as color diversity, rich patterns, environmental protection, convenient installation, long-lasting, washable, and resistant to tearing and scratching drive the growth of the global wallpaper market. However, wallpaper is almost always more expensive than paint in most cases, which restricts the market growth. On the other hand, it is superior to substitute products in terms of durability, which presents new opportunities in the coming years.  

Covid-19 Scenario 

• The outbreak of the Covid-19 pandemic had a negative impact on the global wallpaper market, owing to implementation of the global lockdown that led to temporary closure of all construction projects, especially in the initial period.
• Furthermore, consumer spending has been decreased as a result of the economic slowdown caused due to COVID-19.
• However, the wallpaper market is getting back on track with rise in demand in the post-pandemic period.

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The vinyl based wallpaper segment to maintain its leadership status throughout the forecast period 

Based on product type, the vinyl based wallpaper segment held the highest market share in 2021, accounting for more than two-fifths of the global wallpaper market, and is estimated to maintain its leadership status throughout the forecast period. It can be installed in areas that are normally too moist for traditional wallpaper, such as bathrooms and kitchens. Grease and dirt are usually not a problem for these long-lasting papers, so users can put them almost anywhere in their home or business. These factors are driving the growth of the segment. The report also analyzes non-woven wallpaper, pure paper type wallpaper, and others.  

The residential segment to maintain its leadership status throughout the forecast period 

Based on end user, the residential segment held the highest market share in 2021, accounting for nearly three-fifths of the global wallpaper market, and is estimated to maintain its leadership status through out the forecast period. Wallpapers are widely used in residential applications for living rooms, dining rooms, and home interior decoration. The growing urbanization and migration of people from rural areas to urban cities are important factors driving the residential sector. However, the non-residential segment is projected to manifest the highest CAGR of 4.1% from 2022 to 2031, as private banks and offices consider interior design as a major factor in the representation of brand personality and a step to provide a cheerful working environment for employees. 

The Specialty Stores segment to maintain its lead position during the forecast period 

Based on distribution channel, the specialty stores segment accounted for the largest share in 2021, contributing to more than two-fifths of the global wallpaper market, and is projected to maintain its lead position during the forecast period. In addition, the same segment is expected to portray the largest CAGR of 3.8% from 2022 to 2031. One of the key factors of a specialty store is its focus on a single class of products. Thus, giving owners and employees a chance to develop expertise and a reputation for knowledge and selection within the store's defined specialty. The report also mentions segments including supermarket/hypermarket and e-commerce platforms. 

North America to maintain its dominance by 2031 

Based on region, North America held the highest market share in terms of revenue in 2021, accounting for nearly two-fifths of the global wallpaper market, and is likely to dominate the market during the forecast period. this is attributed to increasing population and rise in disposable income in this region. The people who live in this area prefer environmentally friendly products. Also, the commercial construction industry is thriving in North America. However, the Asia-Pacific region is expected to witness the fastest CAGR of 5.1% from 2022 to 2031. People in this region change their lifestyles and embracing modern culture in place of rural culture. This is responsible for increase in the utility of wall coverings in conjunction with other modern products. Also, there is an increase in residential construction in developing countries which provides lucrative opportunities for the wallpaper market to grow in this region in the coming years. 

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Leading Market Players: - 

• AS Creation
• Brewers Group
• Colefax Group PLC
• Graham & Brown Limited
• Lilycolor Co Ltd.
• OSBORNE & LITTLE LIMITED
• Sangetsu Corporation
• The Sherwin-Williams Company
• The Romo Group
• Walker Greenbank PLC

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