Wall Covering Market Expected to Reach $239.7 Billion by 2031

Growth in building construction offers opportunities for wallpaper & tile wall coverings in bathrooms, kitchens, & interiors, driving Asia-Pacific market growth

WILMINGTON, DE, UNITED STATES, December 17, 2024 /EINPresswire.com/ -- According to a report published by Allied Market Research titled “Wall Covering Market,” the global wall covering market was valued at $152 billion in 2021 and is projected to reach $239.7 billion by 2031, growing at a CAGR of 4.7% from 2022 to 2031.

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Wall coverings are widely used in both residential and commercial sectors to enhance the aesthetic appeal of interior and exterior walls while providing protection from stains and moisture. A variety of wall covering products, such as wallpaper, wall panels, and tiles, are available to meet diverse functional and decorative needs. These products are commonly applied in areas such as kitchens, bathrooms, and other interior & exterior spaces.

Market Growth Drivers
The global expansion of residential construction and renovation activities has significantly contributed to the growth of the wall covering market. Rising demand for wall coverings such as wallpapers and tiles in the residential sector has played a crucial role in improving the appearance, style, and protection of walls, thereby propelling market growth.

Governments worldwide are investing heavily in residential infrastructure to accommodate growing populations and improve living standards. For example:

Since April 2021, the U.S. government has invested $213 billion to construct and retrofit over 1 million residential and commercial buildings, including 500,000 affordable homes for low- and middle-income buyers.
Additionally, the U.S. government plans to spend $137 billion on upgrading schools and universities.
These investments in the construction sector are expected to drive the demand for wall covering products, boosting market growth during the forecast period.

Regional Insights
The Asia-Pacific region held the largest market share in 2021, driven by population growth, rising income levels, and expanding residential construction activities. Increasing renovation projects in developing countries and growth in new building construction are expected to provide significant opportunities for the use of wallpapers and tile-based wall coverings. These products are particularly popular for applications in bathroom walls, kitchen walls, and exterior & interior spaces, which will continue to fuel market growth in the region.

Impact of COVID-19
The COVID-19 pandemic had a notable impact on the wall covering market, as manufacturers in major economies such as China, the U.S., and India were forced to halt production temporarily. The disruptions in business operations directly affected sales and revenue in the industry. In addition, the lack of manpower and raw materials resulted in supply chain bottlenecks, further constraining the market.

However, as production facilities reopened and vaccination campaigns were rolled out globally, economic activities began to stabilize. The recovery of construction projects and the reopening of manufacturing facilities are expected to drive a rebound in the wall covering market in the coming years.

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Key Findings of the Study
The report provides a comprehensive analysis of current and emerging trends in the global wall covering market.

Tile Segment:

In 2021, the tile segment dominated the market in terms of revenue.
The wall panel segment is expected to grow at a significant CAGR during the forecast period.
By Application:

The new construction segment generated the highest revenue in 2021, highlighting its key role in market growth.
By Printing Type:

The traditional printing segment registered the highest revenue in 2021.
Regional Analysis:

The Asia-Pacific region is projected to register the highest growth rate during the forecast period, owing to expanding construction and renovation activities.
Competitive Outlook:

Key players in the global wall covering market are thoroughly profiled in the report. Their strategies, such as product launches, expansions, and partnerships, are analyzed to provide insights into the competitive landscape of the industry.
The report delivers an extensive analysis of emerging opportunities and market forecasts for the period 2022–2031.

The global wall covering market is poised for steady growth, driven by rising construction activities, government infrastructure investments, and growing demand for aesthetic and functional wall solutions. Key market players are focusing on innovative product developments and expansions to cater to evolving consumer needs, ensuring strong market performance in the forecast period.

David Correa
Allied Market Research
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