Digitally printed wallpaper market: a phenomenal comeback

0

HYDERABAD, India, May 3, 2022 /PRNewswire/ — Wallpaper has been in the market for over 100 years, while its use has seen drastic ups and downs. Previously, these wallpapers were used as an alternative to tapestries used by wealthy homeowners, but today they have become a luxury decorating tool. This transformational journey from being “a cost-effective alternative to the luxury item” to becoming “the luxury item” has resulted in the breathtaking return of wallpaper. Wallpapers add aesthetic appeal to any space including living rooms, conference rooms, showrooms, shopping malls, etc. Currently, the majority of wallpapers are used in residential settings, but the demand for custom wallpapers is increasing in commercial buildings.

Market overview

According to ReAnIn, the global digitally printed wallpaper market was valued at $2,904.92 million in 2021 and is expected to reach $8,038.10 million by 2028, registering a CAGR of 15.7% during the forecast period. Growing demand for more aesthetic wallpapers, increased use of digital technology, and increasing investment in infrastructure, especially urban housing, are major drivers of this market. According to the World Bank, more than 50% of the world’s population currently lives in urban areas and the urban population is expected to increase 1.5 times by 2045. However, the availability of substitute products such as paints is expected to hamper the growth of the digitally printed wallpaper market.

Download a free sample: Global Digitally Printed Wallpapers Market Growth, Share, Size, Trends and Forecast (2022-2028)

Impact of COVID-19 on the Digitally Printed Wallpaper market

The COVID-19 pandemic has had a severe negative impact on the market as it has stalled the majority of construction projects. Also, due to the negative impact of COVID-19 on the overall economy, people were hesitant to spend on avoidable things like wallpaper. According to the Pew Research Center, the unemployment rate rose from 3.8% in 2019 to 8.6% in 2020 in the United States, compared to an increase from 6.9% to 7.1% in the EU . However, the economy has rebounded post COVID-19 which in turn is expected to drive the growth of the digitally printed wallpaper market.

Main highlights of the report:

  • Among the substrates, vinyl accounted for the majority of the market share in 2021 and is expected to maintain its dominance over the forecast period owing to various factors such as low cost, high durability, and ease of maintenance.
  • Currently, inkjet technology accounted for the largest market share and is expected to grow at a significant growth rate over the forecast period (2022-2028).
  • between regions, Asia Pacific accounted for the largest market share in 2021 and is also expected to experience the highest growth rate during the forecast period. Increasing urbanization in the region and growth in government funding for affordable housing is expected to drive the market in the region.

Access the report description at: Global digitally printed wallpaper market

Market segmentation :

ReAnIn has segmented the global digitally printed wallpaper market into:

  • Substrate
    • Nonwoven
    • Vinyl
    • Paper
    • Others
  • Technology
    • Inkjet
    • Electrophotography
  • End-use sector
    • Residential
    • Non-residential
    • Automotive and transportation
  • Region
    • North America
    • Latin America
    • Europe
    • Asia Pacific
    • Middle East & Africa

Competitive landscape

Major players operating in the global digitally printed wallpaper market are AS Creation Tapeten AG, ABC Imaging, Artwall, Erismann & Cie. GmbH, F. Schumacher, Flavor Paper, Great Wall Custom Coverings, Hollywood Monster, Muraspec Group, MX Display, 4Walls, and Sherwin-Williams Company. In November 2018EQT Mid Market Asia has acquired a 40% stake in Artwall, a leading wallpaper designer, manufacturer and retailer in China.

Learn more about this report: Global digitally printed wallpaper market

About ReAnIn

ReAnIn provides end-to-end market research services that cover different areas of support such as syndicated market research reports, custom market research reports, consultancy, long-term engagement and flash delivery. We are proud to have over 100 Fortune 500 companies in our customer base. We are a customer-focused organization and are known not only for meeting our customers’ expectations, but for exceeding them.

Media Contact:

Name: Deepak Kumar
E-mail: [email protected]
Telephone: +1 469-730-0260

SOURCE Reanin Research & Consulting Private Limited

Share.

Comments are closed.