Wallpaper Market Predicted to Hit .2 Billion by 2031, With a Sustainable CAGR of 3.6% From 2021-2031

Wallpaper Market 2021-2031

The wallpaper market growth in specialty segment is estimated to witness significant growth, registering a CAGR of 3.8% during the forecast period.

The wallpaper market is expected to possess high growth potential in the coming years as organizational requirements private firms require cost-effectiveness very simple decoration with lighter colors”

— Roshan Deshmukh

5933 NE WIN SIVERS DRIVE, PORTLAND, OR, UNITED STATES, July 8, 2023/EINPresswire.com/ — According to a new report published by Allied Market Research, titled, “Wallpaper Market by Product Type, by End Users, by Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021-2031”. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.

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The growing number of restaurants and the changes in perception about the working environment by the private organizations cheer up their employees with a neat and refreshing office interior increasing the wallpaper market trends. The necessity of interior decoration and budget for this purpose varies according to the consumer segment that urges the brands to differentiate offers according to the need of the organization or household.

The global wallpaper market analysis into product type, end-user, distribution channel, and region. Depending upon product type, the market is segregated into Vinyl-Based Wallpaper, Non-Woven Wallpaper, Pure Paper Type Wallpaper, and Other Wallpaper. On the basis of End-user, it is fragmented into Residential and Non-Residential. Depending on the distribution channel, it is categorized into supermarket/hypermarket, specialty stores, and e-commerce platforms. Region-wise, the wallpaper market is analyzed across North America (U.S., Canada, and Mexico) Europe (Germany, Russia, UK, Italy, France, and the Rest of Europe) Asia-Pacific (China, Japan, South Korea, India, Australia, Rest of Asia-Pacific), LAMEA (UAE, Saudi Arabia, Brazil, Chile, South Africa and Rest of LAMEA).

Depending on product type, Vinyl-Based Wallpaper dominated the market with $943.3 million in 2021 and is estimated to reach $1300.1 million by 2031, at a CAGR of 3.3% during the forecast period. The vinyl coating makes this wallpaper water-resistant. It can be installed in areas that are normally too moist for traditional wallpaper, such as bathrooms and kitchens. Grease and dirt are usually not a problem for these long-lasting papers, so users can put them almost anywhere in their homes or business.

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The End-user, residential wallpapers were the highest contributor to the market, and are estimated to reach $1285.7 million by 2031, at a CAGR of 3.3% during the forecast period. Household requirements differ significantly from those of hotels and restaurants, as well as commercial workplaces. Different themes were preferred by homes depending on the number of individuals in the household and the function of the room. The trend of using wallpapers now growing into the non-residential sector as well and also showing a positive growth rate during the forecast year but as of now, the Residential segment has more market share than the Non-Residential segment.

As per the distribution channel, the specialty store segment was the highest contributor to the market, with $1012.7 million in 2021, and is estimated to reach $1467.3 million by 2031, at a CAGR of 3.8% during the forecast period. The specialty store segment is the leading distribution channel with almost half of the wallpaper market share, e-commerce stores growing with the next leading segment during the forecast period helps in increasing the wallpaper market demand.

Region wize , the North American region was the highest contributor to the market, with $878.0 million in 2021, and is estimated to reach $1171.3 million by 2031, at a CAGR of 3.0% during the forecast period. North America dominated the market and is expected to sustain its dominance during the forecast years. The per-person expenditure capacity and lifestyle of the North American region are much healthy than the other region. Wallpaper is part of this region’s lifestyle for a very long time period, which increases the wallpaper market Opportunity.

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The key players profiled in the global wallpaper market include AS Creation, Brewers Group, Colefax Group Plc, Graham & Brown Limited, Lilycolor Co Ltd., Osborne & Little Limited, Sangetsu Corporation, Sherwin-Williams Company, The Romo Group, Walker Greenbank Plc

Key findings of the study:

○ The wallpaper market size was valued at $2268.6 million in 2021, and is estimated to reach $3226.7 million by 2031, registering a CAGR of 3.6%, wallpaper market forecast from 2022 to 2031.
○ In 2021, by product type, the Vinyl-Based Wallpaper segment is estimated to witness the significant growth, registering a CAGR of 3.3% during the forecast period.
○ In 2021, depending on end-user, the residential wallpaper segment was valued at 1285.7 million, accounting for 56.7% of the global Wallpaper market share.
○ In 2021, by distribution channel, the wallpaper market growth in specialty segment is estimated to witness significant growth, registering a CAGR of 3.8% during the forecast period.

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Originally published at https://www.einpresswire.com/article/643656897/wallpaper-market-predicted-to-hit-3-2-billion-by-2031-with-a-sustainable-cagr-of-3-6-from-2021-2031

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