Market Trends of India Wallpapers Industry
This section covers the major market trends shaping the India Wallpapers Market according to our research experts:
Vinyl Based Wallpapers Account for the Significant Market Share
- Vinyl-based wallpaper is growing in popularity, owing to the advantages offered by the product over conventional paper wallpapers. These are the most durable and widely used wallpapers that are completely washable, colorfast, and fire-retardant.
- Companies manufacture vinyl-based wallpapers by coating paper substrate with vinyl, also known as coated wallpapers. Vinyl and PVC (Poly Vinyl Chloride) coating are the same types. Solid vinyl, blown vinyl, embossed vinyl, etc., are other types of the PVC segment.
- Further, the vinyl-based wallpaper segment dominates the Indian wallpaper market, primarily owing to low cost. These wallpapers are water-proof and can resist water vapor and other liquids (washable). These advantages drive Indian residential consumers' interest in durability and flexibility. The residential market witnessed significant growth in demand, with increasing consumer awareness and cost-benefit offered by the solution.
- The product's growth is also accelerating due to its suitability for high-traffic areas and ease of cleaning. Furthermore, the damaged vinyl-based wallpaper is easily repairable. Due to their ability to repair damage and convenience of use, vinyl-based products will see an increase in demand in the upcoming years. It is a good option for high-traffic places like schools and medical facilities due to its fire resistance.
- Further, according to DGICS, in FY 2022-23, India imported wallpapers valued at about USD 1.62 million, while in 2021-22, imports valued at around USD 4.77 million. The wallpaper imports are declining due to the government regulations on imports, and emerging producers in the country may drive the market growth for wallpapers, especially vinyl-based ones.
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E-commerce Segment to Witness Signifcant Growth
- E-commerce is one of the rapidly expanding markets in India and has played a significant role in the fastest transformation in the retail sector. In the upcoming years, this trend will persist.
- Multi-channel retailing has also gained popularity among Indian retailers in the last few years and has helped gain market share. For instance, Future Retail owns the Brick and Mortar stores, while they have also tied up with e-commerce websites, such as Myntra and Amazon, for selling the products.
- The same trend is also rising in the Indian wallpapers market, where the vendors can have a broader target audience by leveraging their competitive advantage. Marshalls Wallcoverings and Aarcee Wallpapers are some of the prominent companies in the country.
- Moreover, due to the increased demand for online shopping, several social networking sites added more commerce capabilities, allowing customers of participating online shops to explore and make purchases without ever leaving the platform. These platforms are often closely connected with e-commerce platforms so that e-commerce operators can quickly market their wallpapers across many channels.
- According to IBEF, the e-commerce market sales in India are valued at around USD 61.56 billion and are estimated to record about USD 74.8 billion. Further, it will reach USD 350 billion by 2030. Such growing e-commerce sales may drive wallpapers manufacturers to adopt e-commerce platforms to witness significant growth rates.
