Interior Wall Coverings Market Report Overview
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The global interior wall coverings market size was expanded in 2022, as per our research, the market is generate substantial revenue by 2031, at CAGR of % during the forecast period.
The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.
Wall covering is a type of product that is usually applied on walls and other vertical surfaces. These materials help in protecting the surfaces usually while decorating them. This material can be used on interior surfaces and exterior facades. This material is highly used in the interior designing industry.
Interior wall coverings are available in several different patterns. Some of the popular ones include brick, marble, ceramic, and rust paint. This is considered as the latest trend in the market.
The boom of both commercial and residential construction has driven market growth. Introduction of new technologies such as graphic designing has improved the quality of wall coverings. All these factors have resulted in the growth of the interior wall coverings market share.
COVID-19 impact: Decrease in Demand for Interior Designing Industry Reduced Market Growth
The pandemic of COVID-19 resulted in the loss of livelihood of many people and industries. Everyone faced many health issues during this period of time. Many economies suffered severely due to a drastic decrease in demand for all products in the market. Lockdowns and travel bans became compulsory. As a result, many sectors operated at only half of their capacities.
Interior designing industry faced similar problems during this time. Many people are involved in designing the interiors of house. Many materials are also required to perform interior designing. Due to such restraints, the interior designing market faced downfall during the pandemic. Interior wall coverings are majorly used while decorating the internal and external facades of an infrastructure and are prominently used in interior designing. As a result, the market suffered from low demand during the pandemic.
LATEST TRENDS
"Wide Variety of Designs Available in Wall Coverings to Increase Market Growth"
Interior wall coverings are available in different forms and patterns. Different types of wall coverings can be chosen by the customers according to their choice and styles. Some of the most popular patterns include micro concrete, marble, and ceramic. The wide range of options available in the market will attract more customers.
Porcelain stoneware and porcelain tiles are considered to another classic when it comes to wall coverings. Brick aesthetics are also in high demand in today’s market. Some of the other popular styles in interior wall coverings market include venetian stucco and rust paint effect. Availability of numerous options in interior wall coverings can be considered as the latest trend in the market.
Interior Wall Coverings Market Segmentation
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- By Type:
The market can be divided on the basis of type into the following segments:
Vinyl-based wallpaper, non-woven wallpaper, pure paper type wallpaper, fiber type wallpaper, and, others. The vinyl-based wallpaper segment is anticipated to dominate the market during the forecast period.
- By Application:
Classification based on application into the following segment:
Household, and, commercial. The household segment is predicted to dominate the market during the research period.
DRIVING FACTORS
"Rise in Number of Residential Constructions to Accelerate Market Growth"
Post pandemic, the construction industry has recovered and is observing a steady growth. Therefore, the number of residential constructions projects have increased making way to numerous buildings, apartments, and infrastructures. Newly constructed houses require interior designing to decorate the insides of building. Hence, the demand for wall coverings has increased.
Construction industry is a very vast sector and is increasing the employment opportunities for less-skilled and semi-skilled people. Reports provided by BCA also known as the Building and Construction Association, have stated that the demand for construction in developing and developed nations has increased. Both commercial as well as residential projects are being taken up. This indicates the emergence of offices, apartments, and retail stores. This is going to present many lucrative opportunities for the interior wall coverings market growth.
"Growing Scope of Graphic Designing in Interior Designing to Propel Market Growth "
Integration of graphic designing along with interior designing has brough many revolutionary changes in the market. Many attractive wall coverings are being introduced with the help of computerized effects, generating robust development within the market. Customized wall papers, wallpaper borders, and textured wallpapers are very popular among the wall coverings.
Interior wall coverings not only provide a design to the interiors but they also help in protecting the walls from any kind of damage that could be inflicted from the external environment. Some of the advanced wallcoverings can provide sound-proofing, heat-insulation, and durability all while suiting the aesthetics of the house. These factors have further propelled the market growth.
RESTRAINING FACTOR
"Usage of Paint and Coatings as a Substitute to Decrease Market Growth"
Interior wall coverings have emerged as a recent trend in the market. This is getting newly introduced and requires time to get adopted in increasing number. Many people are not aware of the existence of wall coverings. This factor can have a negative impact on the development of the market.
Availability of better substitutes for wall coverings can further pose a challenge to the market. Paint and coatings are very widely used instead to cover the walls. Painting is also more economical compared to wall coverings. All of these factors can hamper the interior wall covering market growth.
Interior Wall Coverings Market Regional Insights
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"North America to Dominate Market Share in Upcoming Years"
North America is a region that is predicted to dominate the market during the forecast period. The most important reason that has led to the development of the market in this region include high investments on real estates. Many properties are being purchased and construction is being carried out in this region.
Furthermore, other factors include increasing number of house renovations. Increased standard of living of people due to growing job opportunities has fueled the market development. Demand for modernly introduced wall coverings that suit the infrastructure of the house has increased in many regions of North America.
Key Industry Players
"Leading Players adopt Acquisition Strategies to Stay Competitive "
Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.
List of Market Players Profiled
- Sangetsu Co., Ltd. (Japan)
- A.S. Création (Germany)
- York Wallpapers (Brazil)
- Lilycolor (Netherlands)
- Shin Han Wall Covering (China)
- Zambaiti Parati (Italy)
- Brewster Home Fashions (U.S.)
- Walker Greenbank Group (U.K.)
- LSI Wallcovering (Indiana)
- GAROFOLI SPA (Italy)
- LAMINAM SPA (Italy)
- RUBELLI SPA (Italy)
- WONDERWALL STUDIOS (U.S)
- FLOOVER (Spain)
- Elval Colour (Greece)
- StoneLeaf (U.S.)
- Tarkett Asia Pacific Limited (Hong Kong)
- PHILLIP JEFFRIES (Netherlands)
- F. Schumacher & Co. (Germany)
- Versa Wallcovering (Indiana)
Report Coverage
The report provides an insight into the industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations.
Frequently Asked Questions
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Which are the driving factors of the interior wall coverings market?
The boom of both commercial and residential construction has driven market growth. Introduction of new technologies such as graphic designing has improved the quality of wall coverings. All these factors have resulted in the growth of the interior wall covering market share.
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Which is the leading region in the interior wall coverings market?
North America is the leading region in the interior wall coverings market
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Which are the top companies operating in the interior wall coverings market?
A.S. Création, York Wallpapers, Lilycolor, and, Shin Han Wall Covering are the top companies operating in the interior wall coverings market.