Wallpaper Market: Key Companies & Market Share Insights

The global wallpaper market size was valued at USD 1.66 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 3.7% from 2021 to 2028.

The global Wallpaper Market size is expected to reach USD 2.2 billion by 2028, registering a CAGR of 3.7% over the forecast period, based on a new report by Grand View Research, Inc. Rising home renovation activities, coupled with technological advancements in printing techniques for wallpapers, has been significantly driving the product demand. Furthermore, rising disposable income, a shift in consumer preferences, and increasing DIY projects involving the usage of wallpapers are expected to drive the market in the coming years.

Furthermore, increasing demand for stain-resistant and eco-friendly wallpapers is driving the market. Several manufacturers are testing the humidity levels and providing products and solutions to combat issues regarding bacterial growth due to the wallpapers. Moreover, companies, such as Sangetsu and York Wallcoverings, have launched several products, which are stain- and damage-resistant.

The COVID-19 pandemic had a major impact on the industry, as several businesses were closed to enforce stringent regulations in view of the spreading infection. The shutdown of major regions, such as China and South Korea, which are one of the major suppliers for raw materials, has impacted wallpaper producers globally. The shortage in supply of raw materials like wood pulp, vinyl, and ink from manufacturers has resulted in a demand-supply gap.

The pandemic has digitized the medium for the wallpaper industry. Several manufacturers are offering templates and designs through their e-commerce websites to gain traction among millennials. In addition, HP Printers is creating awareness about eco-friendly and easy-to-use wallpapers. The company has been carrying out demonstrations in Japan and providing training to personnel regarding the usage of digitally printed wallpapers.

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Wallpaper Market Report Highlights

• The vinyl product segment held the largest revenue share in 2020 due to the multifunctional use of vinyl
• On the other hand, the nonwoven segment is likely to witness the fastest CAGR over the forecast period due to the growing demand for easy-to-peel wallpapers
• High demand for DIY wallpapers is another factor propelling the growth of the nonwoven segment
• In 2020, North America led the global market accounting for the maximum revenue share owing to a rise in consumer disposable income, advancements in digital printing, and increasing demand for home remodeling in the region
• Asia Pacific is anticipated to witness the fastest CAGR from 2021 to 2028 due to the rapidly expanding hospitality sector in APAC