Wall Covering Industry Overview
| Study Period: | 2018 - 2028 |
| Fastest Growing Market: | Asia Pacific |
| Largest Market: | North America |
| CAGR: | 4.9 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Wall Covering Market Analysis
The Global Wall Covering Market is expected to register a CAGR of 4.9% during the period. The increasing disposable income and rapid growth in urbanization have been significantly driving the transformation of human social roots on a global scale by predominantly replacing the rural culture, which has resulted in the increased usage of wall coverings and other modern products.
- Residential constructions account for a substantial market share in the wallpaper market and are expected to witness a significant growth rate. The employment opportunities and population growth are fundamental drivers of the rising demand for new housing as sustained population growth worldwide has increased demand for wall dwellings, including apartments.
- According to the Building and Construction Authority (BCA), construction demand in Singapore is expected to hold steady over the medium term. Demand is projected to reach between SGD 27 billion and SGD 34 billion per year for 2021 and 2022 and between SGD 28 billion and SGD 35 billion per year for 2023 and 2024. This indicates a lucrative market for upcoming office spaces, commercial buildings, and retail stores, among others.
- Moreover, with the advent of graphic designing and new reproduction capabilities, wallpaper is set to become the next big disrupter in design and décor. Recently, some of the regions of emerging economies of Europe witnessed a considerable rise in the demand for textile wall coverings, owing to which there has been an increase in the number of imports of textile coverings. According to the Office of National Statistics (UK), the industry revenue for floor and wall covering in the United Kingdom in the year 2024 will rise to USD 5,410 million.
- The wall covering the market suffers from negative consumer perceptions and stiff competition from paint and coatings. Paint is considered to be a better option when compared to wall coverings in certain applications. For instance, in rooms that record high humidity levels, paints are better suited because the paint could be used for both the kitchen and bathroom, can deal with humidity, and is mold resistant, unlike wallpaper.
- Further, the development of products, such as wallpaper borders, custom wallpaper, and textured wallpaper, is expected to renew the stagnant product category. Also, advances in wallpaper technology, which make these products easier to apply and remove, are expected to expand sales opportunities, thereby fueling market growth. Art-inspired wallpapers are also witnessing an upsurge in demand from European consumers. Besides, due to the rising number of residential construction projects, wall coverings have become a necessity to improve the look of residences.
- Moreover, some of the primary-edge digital techniques are transforming ordinary surfaces into a unique reflection of a company's brand image. For instance, in February 2021, the late designer, Karl Lagerfeld, 's iconic original sketches, logos, and prints were compiled into a wallpaper and launched. As such, wall coverings have witnessed several enhancements and are catering to the demands of consumers.
- Further, with the outbreak of COVID 19, the wall covering market witnessed a decline due to a decrease in advertising across various parts of the world. Moreover, multiple governments enforced lockdown of the cities and towns across various countries, which also impacted the market due to supply chain disruption and closure of many distribution channels.
Wall Covering Industry Segments
Wall covering protects the wall surface from accidental marks or scratches, besides imparting an air of quality and grandeur to uncovered walls. They further help in neutralizing the interior and customizing it with the help of various colors and patterns. Also, these coverings are cost-effective. The two common areas of applications of wall coverings include residential and commercial. Residential wall coverings are mainly used in homes and in small businesses to add attractiveness to rooms and to express an individual style.
The Wall Covering Market is segmented by Product Type (Wall-Panel, Wall Paper(Vinyl Wallpaper, Non-woven Wallpaper, Paper-based Wallpaper, Fabric Wallpaper), Tile, Metallic Wall Covering), Application (Residential and Commercial), Distribution Channel (Specialty Store, Home Center, Building Material Dealer, Furniture Store, Mass Merchandizer, E-commerce), and Geography.
| Product Type | |||||||
| Wall Panel | |||||||
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| Tile | |||||||
| Metal Wall Covering | |||||||
| Other Product Types |
| Application | |
| Commercial | |
| Residential |
| Distribution Channel | |
| Specialty Store | |
| Home Center | |
| Building Material Dealer | |
| Furniture Store | |
| Mass Merchandizer | |
| E-commerce | |
| Other Distribution Channels |
| Geography | ||||||||
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Wall Covering Market Trends
This section covers the major market trends shaping the Wall Covering Market according to our research experts:
Wall Panel is Expected to Register a Significant Growth
- Wall Panels include wooden panels and laminates, which are used for covering walls effectively while also protecting the external environment. The usage of wall panels can significantly reduce construction costs by providing a consistent appearance to the paneled surface without the application of paint or some other finishing material. Additionally, the growth of the construction industry, owing to urbanization, simplified utility, and lower costs, is expected to drive the demand.
- For instance, in October 2021, 3A Composites USA introduced MONARC Wall Panel Solutions to enable design specialists to transform interior spaces with the premium look of natural elements, including stone, wood, tile, and metal, at a fraction of the cost, weight, and maintenance. A specialized and proprietary manufacturing process allows MONARC wall panels to be produced with high-quality finishes designed for kitchen, bath, shower enclosure applications, living room accents, and other interior living space treatments. MONARC consists of two sheets of premium .012-inch aluminum bonded to a fire-retardant mineral core. This composition produces a durable aluminum composite panel that offers exceptional dent resistance and flatness.
- Advancements in the market have been in the form of insulated wall panels, which provide superior and uniform insulation in comparison with more common methods of house construction. These panels can be used in almost any architectural setting but are most common in residential constructions. The greatest advantage of these panels is that they offer superior and uniform insulation when compared to more common methods of house construction.
- Wall panels do not have a standard size. However, 24 inches by 8 feet is suggested as the maximum practical size for wall panels to allow for ease of transportation. Among various others, wood paneling on walls is in trend these days, especially in Australia and European countries, for heat insulation, sound-proofing, and aesthetics.
- The adoption of panels results in an enhanced aesthetic appeal. The wall covers with fewer joints also offer several practical gains, as they are easier to install than separate single tiles, and considerable time can be saved during the renovation process. Besides, after the placement of the wall panels, the end-user also benefits from the ease that these panels offer, as the wall is easier to clean and maintain. The growing investments in the hospitality sector, owing to increasing global tourism, are poised to impact the market studied over the forecast period.
- Moreover, wall panels are increasingly popular as an alternative to ceramic tiling in kitchens and bathrooms. It was once known as the low-end product used mainly in social housing and large-scale public-sector projects. However, the developments in design and technology have combined to produce high-quality finishes, textures, and colors which work with any style of property.
- Furthermore, the rising construction spending across the globe coupled with the growing interest in wall coverings is expected to propel the market growth over the forecast period.
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North America is Expected to Hold Significant Market Share
- Trends like construction spending, real estate costs, the rising cost of home renovations, and business prospects for interior designers are boosting the market for wall coverings and décor in the United States. According to the US Census, construction spending during January 2021 was estimated at a seasonally adjusted annual rate of USD 1,521.5 billion, 1.7% above the revised December estimate.
- Further, the private sector construction spending witnessed a positive trend in 2021 when the value of new private construction put in place surpassed USD 1.2 trillion. Even though the start of the COVID-19 pandemic affected the construction industry, the value of new private construction kept growing in 2020, reaching over USD 1.1 trillion. With this, huge investments were made in home décor and home improvements in the United States, which propelled the wall covering the market in the country. A similar trend of rising residential constructions, owing to the increasing population worldwide, is expected to drive the demand for wall coverings.
- Also, the commercial construction sector is on an upswing. According to the FMI Corporation, in the United States, the new commercial buildings are expected to value USD 99.42 billion in 2021 from USD 47.33 billion in 2012. Furthermore, technological advancements in wall coverings, such as inkjet painting (which is expected to mimic the texture, design, and look of natural wood and stone), are expected to boost the market growth in the region.
- The vendors in the market focused on innovating their products to meet the growth in demand from the boom in residential construction. Sublimation printing is gaining traction in textile printing in the home decor segment. This includes printed fabric-based wallcoverings. Various vendors are increasingly innovating their offerings with the help of new printing technology.
- For instance, in September 2021, Beaver Paper Group, a prominent manufacturer of sublimation media, debuted their new TexStyles FashionWalls, a unique new line of printable fabric wall coverings that allows customers to create their own designs to fit any environment. FashionWalls is durable, washable, and abrasion-resistant. It is made of 100% knit polyester, easy to use, and offered in two versions, dye- sublimation and latex/UV.
- While the United States holds the majority share of the market, the adoption rate in Canada for the studied market is likely to grow over the forecast period due to significant investment in the new residential buildings. For instance, according to the FMI Corporation, the forecast for new residential buildings put in place in Canada is expected to reach CAD 136,302 million in 2023, compared to CAD 118,507 million in 2018.
- Although most Canadians prefer online platforms, most well-known wall covering offerings were available with home centers and specialty stores. Stores like Lowe’s, Costco, Walmart, Ikea, Home Depot, and Wayfair remain prominent in the region.
- The improving disposable income and supportive new home housing index (prices of houses decreased in major cities) open new opportunities to install wall coverings in the future.
- According to the NRHA, the home improvement industry sales in Canada are expected to reach CAD 56.3 billion in 2022, compared to CAD 50.2 billion in 2019. Such instances are likely to augment the market growth in the country.
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Wall Covering Market Competitor Analysis
The Wall Covering Market is quite fragmented and consists of several players. The companies in the market tend to partner with international designers to make the wall coverings aesthetically pleasant to the eye and manage to incorporate the latest designs and punchy colors and to perfectly enhance the home interiors, shops, hotels, cafés, and restaurants, as well as exhibition stands and public buildings.
- July 2021 - Grandeco WallfashionGroup announced the acquisition of the entire shareholder capital of Wall! Supply a significant player in decorative 3D panels. Following the acquisition of Holden Decor in 2020, this acquisition is part of Grandeco'sglobal expansion strategy. The objective of the acquisition is to build on Wall! Supply's success and further realize its enormous growth potential.
- June 2021 - Ahlstrom-Munksjö, a leading supplier of wallcovering materials with an extensive range of nonwovens for the high-end segment, announced that it is expanding production capacity at its Malmedyplant in Belgium. The EUR 10 million investment would double the plant's capacity and diversify the production to cover filtration materials.
Wall Covering Market Top Players
Adfors (Saint Gobain)
Ahlstrom-Munksjö Oyj
Asian Paints Limited (APL)
Brewster Home Fashion
A.S. Création Tapeten AG
*Disclaimer: Major Players sorted in no particular order
Wall Covering Market Recent Developments
- May 2022 - York Wallcoverings was acquired by Industrial Opportunities Partners, an Evanston, Illinois-based private equity firm. Industrial Opportunities Partners also owns Brewster Home Fashions and Fine Décor, which produces wallcovering, flooring, and home décor products and is headquartered in Randolph, Mass., and Manchester, U.K., respectively. The three organizations would be united under a new overarching entity, The BershamGroup.
- January 2022 - Ahlstrom-Munksjöacquired a 60% stake in Chinese decor paper producer Minglian New Materials Technology Co., Ltd. and formed a joint venture comprising an advanced plant in Xingtai, Hebei Province, China. By combining Minglian with its existing Decor business, Ahlstrom-Munksjöcreates is a significant player in decor papers with improved cost competitiveness and a strong presence in Europe, the Americas, and Asia. The business combination facilitates Ahlstrom-Munksjö to leverage its brand and capabilities in China's large and growing high-end decor paper market.
Wall Covering Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Threat of New Entrants
4.2.2 Bargaining Power of Buyers
4.2.3 Bargaining Power of Suppliers
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Industry Value Chain Analysis
4.4 Market Drivers
4.4.1 Increasing Number of Residential Buildings
4.4.2 Availability of Styled Products
4.4.3 Increase in Do-it-yourself (DIY) Trends
4.5 Market Challenges
4.5.1 High Competition from the Paints Segment
4.6 Assessment of the Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 Product Type
5.1.1 Wall Panel
5.1.2 Wall Paper
5.1.2.1 Vinyl Wallpaper
5.1.2.2 Non-woven Wallpaper
5.1.2.3 Paper-based Wallpaper
5.1.2.4 Fabric Wallpaper
5.1.2.5 Other Wallpaper Types
5.1.3 Tile
5.1.4 Metal Wall Covering
5.1.5 Other Product Types
5.2 Application
5.2.1 Commercial
5.2.2 Residential
5.3 Distribution Channel
5.3.1 Specialty Store
5.3.2 Home Center
5.3.3 Building Material Dealer
5.3.4 Furniture Store
5.3.5 Mass Merchandizer
5.3.6 E-commerce
5.3.7 Other Distribution Channels
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.2 Europe
5.4.2.1 United Kingdom
5.4.2.2 Germany
5.4.2.3 France
5.4.2.4 Spain
5.4.2.5 Netherlands
5.4.2.6 Rest of Europe
5.4.3 Asia Pacific
5.4.3.1 China
5.4.3.2 India
5.4.3.3 Japan
5.4.3.4 Rest of Asia Pacific
5.4.4 Latin America
5.4.4.1 Brazil
5.4.4.2 Mexico
5.4.4.3 Argentina
5.4.4.4 Rest of Latin America
5.4.5 Middle East and Africa
5.4.5.1 Saudi Arabia
5.4.5.2 United Arab Emirates
5.4.5.3 South Africa
5.4.5.4 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles *
6.1.1 Brewster Home Fashion
6.1.2 Adfors (Saint Gobain)
6.1.3 Ahlstrom-Munksjö Oyj
6.1.4 Asian Paints Ltd
6.1.5 Benjamin Moore & Co.
6.1.6 A.S. Création Tapeten AG
6.1.7 J. Josephson Inc.
6.1.8 Walker Greenbank PLC
6.1.9 Grandeco Wallfashion Group
6.1.10 York Wallcoverings Inc.
7. INVESTMENT ANALYSIS
8. FUTURE OF THE MARKET
Wall Covering Market Research FAQs
What is the study period of this market?
The Wall Covering Market is studied from 2018 - 2028.
What is the growth rate of Wall Covering Market?
The Wall Covering Market is growing at a CAGR of 4.9% over the next 5 years.
Which region has highest growth rate in Wall Covering Market?
Asia Pacific is growing at the highest CAGR over 2018 - 2028.
Which region has largest share in Wall Covering Market?
North America holds highest share in 2021.
Who are the key players in Wall Covering Market?
Adfors (Saint Gobain), Ahlstrom-Munksjö Oyj, Asian Paints Limited (APL), Brewster Home Fashion , A.S. Création Tapeten AG are the major companies operating in Wall Covering Market.
Wall Covering Industry Report
In-depth industry statistics and market share insights of the Wall Covering Market sector for 2020, 2021, and 2022. The Wall Covering Market research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Wall Covering Market report PDF.
