Nov 30, 2022
Steady Growth Forecast For Wallpaper Market
The global market for wallpaper is forecast to reach $3.2 billion by 2031, growing at a compound annual growth rate of 3.6 per cent through the forecast period, says a report by Allied Market Research. The rise in popularity of wallpaper is due to its variety of characteristics such as colour diversity, rich patterns, environmental protection, durability, ease of maintenance, and convenient installation. However, wallpaper is usually more expensive than paint in most cases, which restricts market growth. Based on product type, the vinyl-based wallpaper segment held the highest market share in 2021, accounting for more than two-fifths of the global market. It is estimated to maintain its leadership status throughout the forecast period. Based on the end user, the residential segment held the highest market share in 2021, accounting for nearly three-fifths of the global market and is estimated to maintain its leadership status throughout the forecast period. Based on distribution channel, the specialty stores segment accounted for the largest share in 2021, contributing to more than two-fifths of the market and is projected to maintain its lead position during the forecast period.