In 2023, the wallpaper market was valued at approximately US$ 30.55 million and is anticipated to grow to US$ 42.55 million by 2031, reflecting a compound annual growth rate (CAGR) of 4.2% during the forecast period from 2023 to 2031.
Wallpaper encompasses a variety of designer patterns, textures, and digital images utilized for wall decoration. It is a popular choice for interior design in both residential and commercial settings, catering to diverse aesthetic tastes and functional needs. By adding sophistication to living spaces or enhancing the atmosphere of commercial environments, wallpaper can be customized to meet various design requirements. Manufacturers typically classify their offerings into residential and non-residential categories. Residential wallpapers are crafted to address the unique demands of home settings, focusing on aesthetics, durability, and ease of application. Conversely, commercial wallpapers are designed to endure higher traffic levels and wear in public venues such as offices, hotels, and restaurants. This distinction is vital as it affects the selection of materials, including thickness and weight, ensuring that the wallpaper is suitable for its intended use.
The non-residential construction industry consistently shows a strong demand for new developments. The US Commerce Department reported an 11.3% rise in total construction spending, reaching $2.05 trillion as of November 2022. By November 2023, actual construction expenditures hit $1.8 billion, marking a 6.2% increase from the previous year. Private non-residential construction spending accounted for $698.2 billion, while private residential construction reached $896.8 billion, and public construction totaled $455.1 billion. The construction of hotels, resorts, shopping centers, office buildings, and entertainment venues to accommodate the growing population and business activities has significantly boosted wallpaper demand. Additionally, the rising need for non-residential and institutional spaces, such as offices, retail outlets, hospitals, and educational institutions, has led to an increased requirement for high-quality and visually appealing wall coverings to enhance the interior design and atmosphere of these environments. In response to this demand, manufacturers are innovating with new wallpaper designs, textures, and materials that align with the aesthetic and functional needs of the non-residential construction sector. Consequently, the expanding non-residential construction market is a key driver of growth in the wallpaper industry.
The wallpaper market is categorized by type into paper-based, vinyl-based, fabric-based, and other varieties. In 2023, the vinyl-based segment dominated the market share. Vinyl wallpaper is the most popular choice among consumers due to its durability, making it ideal for residential applications such as children's rooms, bathrooms, and kitchens. It comes in a wide array of styles, including pre-pasted, peel-and-stick, and textured options, offering limitless decorating possibilities for both homes and commercial properties. Vinyl wallpaper consists of a base layer with a vinyl film on top, which enhances its durability, making it thick, washable, and long-lasting. Vinyl-coated wallpaper is treated with a chemical form of vinyl, such as acrylic vinyl, providing an extra layer of protection against humidity and moisture. This type of wallpaper is particularly favored in public areas, including hotels, restaurants, and shopping malls.
Several key players in the wallpaper market include Milton & King Pty Ltd, Walls Republic US, A-Street Prints, Abigail Edwards, Glamora Srl, Coordonn?, Borastapeter AB, Sanderson Design Group, Asian Paints Ltd, Wall&dec? S.r.l., Galerie Limited, Farrow and Ball Ltd, Osborne and Little, Cole and Son (Wallpapers) Ltd, and Holden Deco, among others. These companies are committed to delivering innovative and eco-friendly products at competitive prices to meet consumer demands.
The overall size of the wallpaper market has been determined through a combination of primary and secondary research methods. The research process began with extensive secondary research utilizing both internal and external sources to gather qualitative and quantitative data related to the market. Additionally, numerous primary interviews were conducted with industry stakeholders to validate the findings and gain deeper analytical insights. Participants in this research included industry experts such as vice presidents, business development managers, market intelligence managers, and national sales managers, as well as external consultants like valuation experts, research analysts, and key opinion leaders specializing in the wallpaper sector.