The global wall covering market size is to grow by USD 49 billion by 2030 at a CAGR of 5% from the early estimated market share of USD 31 billion.
The wall coverings are materials or components that cover the wall surfaces from accidental damage and scratches, covering the uncovered walls and making them feel like a complete and decorated wall. The major use of such wall coverings is found in the interior designing field, where the interior designers utilize such wall coverings for decorating the living rooms, bedrooms of a residential complex, or even commercial spaces like offices, shops, etc. A few qualities of such wall coverings, including color, texture, and design, help change the overall look of a room or a corporate space. The overall market growth of the wall coverings started to gain the necessary momentum in the past few years when the market was introduced with the new and improved components that can be utilized in the interior decorating industry.
The increasing population has led to an increase in the number of residential complexes as the need for a home is the most important one for any individual to survive in this world. There are plenty of construction sites ongoing across the world with the high demand from the consumers and the limitation for the residing space. This has led to an outburst of residential constructions all over the world, which in turn created a demand for all the other accessories and needs required for a home to get the best-in-class look.
People are constantly evolving their needs and demands with time, so the interior decorating industry is one of those few industrial segments that earns a significant market share. With the increasing number of residential complexes, there arises a need to decorate the home where the interior designers are called up. When decorating the interior of a flat or a home, these interior designers or architects study the entire structure and decide what sort of decoration to make the home brilliantly designed and textured.
And for this, the wall coverings are one of the key components used by the architects and designers as it makes their work easy and better. Such wall coverings are used to decorate the walls and protect them from any surface damage. Even some people prefer such wall coverings to cover any damage or dimensional-outs in the home. This is why the wall covering market is gaining dominance in the construction and building industry.
The global construction and interior designing industry have some trends developing in the industry which make it possible for the house owners to decorate their homes by themselves, or it can be called the Do-it-Yourself (DIY) techniques. People can use these DIY designing techniques and components which are like a plug-and-play model, to decorate their homes by themselves without any external help.
These DIY components can be said to be another driving factor for the wall coverings, as portable wall coverings or stickers are available in the market. Apart from the DIY components, the wall coverings come with new styles that attract end consumers, and they end up purchasing and utilizing such styled wall coverings for their homes. These factors play a vital role in the overall growth of the wall covering market.
Paint is used as an outer and inner covering for walls of the home and covers a bigger market share than the wall coverings. As people mostly prefer painting their walls rather than just sticking some wall coverings or wallpapers on their roughly plastered walls or a partly damaged wall. Painting is a by-default activity of the engineers and architects while constructing a home or even a corporate space. The newly plastered walls need a layer of coating to offer the walls the required strength and rigidness.
This is why paint is the first option and is followed in the construction industry globally. The wall coverings are always thought of after the entire house is created and ready to be shifted in. Even in some cases, the wall coverings are not in the talk even when the interior work is going on due to the cost factors. This is why the paint is the foremost and the only major restraint in the global wall covering the market’s progress.
The millennial generation is fond of new and techno-savvy things, so there are constant evolutions in the global market regarding new products and components. The wall coverings are a part of such evolutions and are widely famous among the millennials as this generation has a great fondness for the interiors and the new age home designs. That is why the wall coverings are constantly evolving from time to time.
Earlier the wall coverings would come in a paint-like format. Later, it evolved into a sticker-like format, and now the wall coverings are available as a stick and remove the type of format, which can be reused many times. This continuous evolution in wall coverings creates a wide range of opportunities in the global wall covering market.
| Study Period | 2018-2030 | CAGR | 5% |
| Historical Period | 2018-2020 | Forecast Period | 2022-2030 |
| Base Year | 2021 | Base Year Market Size | USD 31 Billion |
| Forecast Year | 2030 | Forecast Year Market Size | USD 49 Billion |
| Largest Market | Europe | Fastest Growing Market | Asia Pacific |
The global wall covering market is primarily segmented into four major regions that contribute a substantial market value. These are North America, Europe, Asia-Pacific, and Latin America.
The Europe region has the major market value accounting for USD 10 billion in 2021 and is expected to grow to USD 15 billion by 2030 at a CAGR of 4%. Europe is the region that evolved the wall coverings segment to the world through an interior design project. The major share of such wall coverings comes from the European region itself, irrespective of the product type and end-use or the application.
The second dominant region among the top four regions in the Asia-Pacific region, which had a substantial market share of USD 8 billion in 2021 and is anticipated to grow to USD 14 billion by 2030 at a CAGR of 6%. The Asia-Pacific region is one of the most developing regions in the world with the presence of emerging economies like India, China, Japan, South Korea, etc. owe the second most market share amid the high demand for the interior decorating components, which includes the wall coverings as well.
North America is the third dominant region, with an anticipated market value to reach USD 11 billion by 2030 at a CAGR of 5%.
Latin America is the fourth region among these top four regions, with a market value of USD 6 billion by 2030 at a CAGR of 7%.
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The global wall covering market share is segmented with respect to the product type and application.
When segmented by-product, the wall covering market is further classified into wall panels, wallpaper, and tiles. The wallpaper category dominates the market share with a market value of USD 10 billion in 2021 and is expected to grow to USD 16 billion by 2030 at a CAGR of 5%. The wallpapers are one of the most used wall coverings types, which are available in various materials like vinyl, non-woven wallpaper, paper-based wallpaper, fabric wallpapers, etc.
These wallpapers can be stuck to the walls without any external gums or chemicals and are quick to install on the walls, and this is why it has the maximum market share, as people prefer the wallpapers with ease of use. The second category in the said segment is the wall panels, which account for a market share of USD 9 billion in 2021 and are expected to reach USD 13 billion by 2030 at a CAGR of 4%. The wall panels are a complete wall unit that is fitted to the wall to make it look better.
The wall panels are fabricated with wood or fibers and fitted on the wall as a wall mounting. The third category of the said segmentation is tiled. The tiles are used to cover the entire wall or part of a wall by implanting tiles over it with the help of white cement or chemical that makes the binding of the tiles and the wall strong and rigid. The tiles category owes a market share of USD 6 billion in 2021 and will reach USD 10 billion by 2030 at a CAGR of 7%.
When segmented by application, the wall covering market is further classified into residential and commercial. The residential category is the most dominant one, with a market share of USD 17 billion in 2021 and expected to reach USD 29 billion by 2030 at a CAGR of 6%. The residential sector has the most use of such wall coverings as the trend for decorating the home is increasing the demand for interior services. In turn, the wall coverings are also generating significant revenue.
The second category in the by application segment is the commercial one. The commercial segment of the wall covering market has a substantial market share that accounted for a value of USD 14 billion in 2021 and is expected to reach USD 20 billion by 2030 at a CAGR of 4%. The commercial sector uses the wall coverings to decorate the corporate offices, public places, and other regions with high-end wall mountings or wall coverings, but still, the major share of the market is earned and ruled by the residential category.
Coronavirus flare-up has impacted international exchange and global stock chains of fundamental and non-fundamental goods and services. With the spread of COVID-19 across the world, businesses and organizations have sustained a great loss as the said market has been adversely affected by the pandemic. With huge intricacy in keeping up with the production network interaction of different end-client businesses, the shrewd mark arrangement is supposed to observe reception in the process to work on the general inventory network process.
Additionally, the following resources have been moving during the pandemic time because of interruption in the inventory network where numerous items were held at better places, making it hard for the end client to track and causing huge misfortunes. The interest from healthcare and pharma end-client saw an uncommon ascent during the pandemic, where tough guidelines with respect to shipment and transportation were observed. The competition to foster the COVID-19 Vaccine also saw an alternate association's critical development.
