Pune, India, January, 2019, /MRFR Press Release/- Market research future published a half-cooked research report on global Wallpaper market. The Wallpaper market is expected to grow over the CAGR of around 4.52% during the period 2018 to 2023.
The global wallpaper market is anticipated to witness moderate growth throughout the forecast period. The growing fondness towards aesthetics in construction, especially in Asia-Pacific countries have led to increased investment in interior designing industry. This further fuel the demand for wallpapers to which are used extensively to enhance the aesthetic appeal and bring personality in the style of construction. This along with the properties such as ease of installation, durability, and use eco-friendly backing material adds to the market growth.
The environmental and health issues have further led to the technological advancement in the backing material of the wallpapers, which have been influential in creating demand for eco-friendly wallpapers. This is backed by the growing awareness about various environment issues on a global platform. There is seen a shift of focus from the products to the material wherein more attention is paid to the type of material used in the wallpaper to suit different environments. Lot of emphasis has been paid to the material development along with increased focus on aesthetics and durability. Thus, the market is anticipated to gain momentum in the coming years.
Asia-Pacific region, to see a fastest growing wallpaper market over the forecast period
Based on region, the global wallpaper market has been segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). Asia-Pacific region dominated the global market, followed by North America and Europe, chiefly due to the increasing investments in research & development for advanced materials along with constant growth in the private construction market. The rise in construction industry is attributed to the private housing, infrastructure construction growth, and remodeling/renovating projects.
Residential segment is expected to grow with a higher CAGR in the overall wallpaper market
Based on application, the residential segment is expected to exhibit maximum growth rate between the period of 2018 to 2023. The factor owing to the market size of the segment is rapid urbanization which has further resulted in the demand for private and residential spaces. These demands have been met by investments from domestic as well as foreign players. Also, the focus on the advancement in material have widened the scope for customized products which differ in terms of application areas such as kitchens, bathrooms, bedrooms, and others. This coupled with the increasing renovation and remodeling projects in Europe and North America have been driving the market for wallpaper in residential spaces.
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Global Wallpaper Market, 2016-2023 (USD Million)
Source: MRFR Analysis
Scope of the Report
This study provides an overview of the global wallpaper market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia-Pacific and the rest of the world (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global Wallpaper market by type, by end-user, and by region.
The prominent players in the wallpaper market are York Wallcoverings (U.S.), Ahlstrom Corporation (Finland), Benjamin Moore & Co. (US), Wayfair LLC (US), 4walls (US), Akzo Nobel N.V. (Netherlands), Asian Paints Ltd (India), Dal-Tile Corporation (US), Brewster Home Fashions Llc (US) among others.