The global wallpaper market was valued at US$ 6,946.2 million in 2018, according to Wallpaper Market Report, by Product Type (Vinyl-based, Non-woven, Pure Paper Type, Fiber Type, and Others), by Distribution Channel (Online Channel (Company’s Own Website and Resellers/Third Party E-commerce Channels) and Offline Channel (Company Franchisee Stores and Company Owned Showrooms)), by End User (Residential and Commercial (Offices, Restaurants, Entertainment Centers, and Others)), and by Region (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa) published by Coherent Market Insights.
The global wallpaper market is expected to reach US$ 11,286.7 million by 2027, exhibiting a CAGR of 5.9% during the forecast period (2019-2027). The market for wallpaper is majorly driven by rapid urbanization. Rapid urbanization has led to increased construction and infrastructure activities across the globe. For instance, according to the United Nations' World Urbanization Prospects 2018, 55% of the world population currently resides in urban areas, which is expected to grow to 68% in 2050. Growth of the world’s population could add another 2.5 billion people to urban areas by 2050, with close to 70% of this increase taking place in Asia Pacific.
However, growth of the global wallpaper market is expected to be hampered by high cost of installation. The cost of wallpaper & installing material is higher compared to paints. For instance, the average cost of wallpaper for a 12*18 foot room, four walls papered from floor to ceiling is in the range of US$ 800 to US$ 1200, whereas cost of paint for the same surface area would be in the range of US$ 320 to US$ 500. Moreover, proper installation of wallpapers in commercial buildings requires trained professionals, which adds more expenses to wallpaper installation.
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Browse 50 market data tables* and 40 figures* on "Wallpaper Market” - Global forecast to 2027.
Key Trends and Analysis of the Wallpaper Market:
Scenic and mural wallpapers are also expected to witness significant demand over the forecast period. Murals offer variety of statements to the wall with the capacity to communicate or tell a story. Moreover, murals are uniquely designed compared to other wallpaper designs. Therefore, decorating the home with unique mural designs could be a rising trend in the global wallpaper market. Furthermore, geometric prints offer a glamorous appearance to living rooms, bedrooms, hallways, which is expected to facilitate demand for these wallpapers over the forecast period.
Key Takeaways of the Market:
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