What is the future of Wall Covering Market? Know Covid Impact on Size, Share & Forecasts
Jun 23,2021/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Wall Covering Market.
Wall covering market is likely to witness an impressive CAGR of 4.5% during the forecast period. The growing demand for wall covering is mainly due to the enhancement of the appearance of the walls and increasing personal income of people to spend on wall covers.
Wall coverings are materials such as wallpaper or textured fabric and other products used as decorative coverings for walls.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Based on the product type, the market is segmented as wall panel, wall paper, tile, metal wall covering, and other products. The wall panel segment held the largest share of the market in 2020, and is expected to remain dominant during the forecast period. The usage of wall panels results in better aesthetic appeal as the wall panels cover the wall with fewer joints.
Based on the application type, the wall covering market is segmented as commercial and residential. The residential segment leads the market owing to rise in population and increasing spending power of people, which is giving rise to construction of new houses in the urban and sub-urban areas globally, and surge in the construction of non-residential buildings and institutes, which is also a major reason for the dominance of this segment.
In terms of regions, North America is estimated to be the largest as well as the fastest-growing market for wall covering during the forecast period, with the USA and Canada being the major countries offering lucrative growth opportunities. The growth of the region’s market is owing to, increasing per-capita income of countries, extensive growth of construction industry in the region, and presence of a large number of wall covering manufacturers in the aforementioned countries. Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the forecast period.
Key Players:
- A.S. Création Tapeten AG
- Adfors (Saint Gobain)
- Ahlstrom-Munksjö Oyj
- Asian Paints Ltd
- Benjamin Moore & Co.
- Brewster Home Fashion
- Grandeco Wallfashion Group
- J. Josephson Inc.
- Nippon Paint Holdings Co. Ltd
- Walker Greenbank PLC.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Wall Covering Market analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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