Wallpaper Market Expected to Reach US ~$2.06 billion and CAGR 3.8% by 2028 – Polaris Market Research
The global Wallpaper Market size is expected to reach USD 2.06 billion by 2028 according to a new study by Polaris Market Research.
The prominent factors favoring the global market growth include an increase in the proliferation of customized wallpapers and their varied applications. Customization and diverse ways of applications are giving strength to the demand for the industry. Individuals who are fond of decorating their homes with various beautiful patterns, colors, and other favorites prefer these to make their homes more attractive.
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Moreover, with the latest advancements in digital printing, several enterprises have been commenced that are customizing these to design business interiors in the name of their brand The customized business interiors have proved to be effective in growing the efficiency of work in the offices. Besides, in the offices and commercial surroundings, the graphics also assist in marketing. Therefore, this factor may drive the growth in the forecasting period.
The commercial is expected to lead the segment in 2021, with the largest revenue share. The prime factor driving the demand is the increased number of restaurants, malls, etc. While the residential is projected to rise at the highest with a rise in penetration of the wallpaper market in residential areas and growing demand for cost-friendly wallpapers.
An upswing in disposable income and intensifying urbanization is the major driving factor for industry growth. The rising disposable incomes in countries have augmented the purchasing power of people. Owing to these, the demand and expenditures have increased. The ever-increasing urban population witnesses a significant availability of numerous convenience stores that offer several kinds to a large group of people.
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According to migrationportaldata.org, most of the world’s population exists in urban areas. Moreover, as per the United Nations Department of Economic and Social Affairs in 2018, it is estimated that around 55% of the overall world’s population lives in an urban area and this is likely to rise to 68% by 2050. Therefore, it may support the industry growth in the forecasting years.
Market Participants such as Osborne & Little, Grandeco, Lilycolor Co., York Wallcoverings, AS Creation Tapeten AG, The Romo Group, Asian Paints, Brewster, Erismann & Cie. GmbH, F. Schumacher & Co., ShinHan WallCovering, Graham & Brown, Gratex, 4Walls, Laura Ashley Holdings PLC, LEN-TEX Corporation, Marburger Tapetenfabrik, Sangetsu Corp., and Tapetenfabrik Gebr. Rasch GmbH & Co. KG,. are some of the key players operating worldwide.
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Polaris Market Research has segmented the wallpaper market report based on type, end-use, and region:
Wallpaper, Type Outlook (Revenue – USD Billion, 2016 – 2028)
Wallpaper, End-Use Outlook (Revenue – USD Billion, 2016 – 2028)
Browse detailed report with in-depth TOC – Wallpaper Market
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Published Mon, 18 Jul 2022 07:19:47 -0500