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Growth Trajectory of the Wall Covering Market | Allied MarketResearch

11-23-2023 12:10 PM CET | Industry, Real Estate & Construction

Press release from: Allied Market Research

Growth Trajectory of the Wall Covering Market | Allied

Allied Market Research presents a compelling narrative in their latest report, "Wall Covering Market," revealing a robust market valued at $152 billion in 2021 and projected to soar to $239.7 billion by 2031, boasting a noteworthy CAGR of 4.7% from 2022 to 2031.

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The wall covering market has experienced substantial expansion, buoyed by a surge in infrastructure investments spanning residential, non-residential, airports, and malls. Additionally, the market has been propelled by the renovation and reconstruction wave sweeping through existing buildings, both residential and commercial, driven by technological advancements in digital and 3D printing. Leading industry players, through a spectrum of strategic approaches, contribute to the market's growth momentum.

Wall coverings, including wallpaper, wall panels, and tiles, play a pivotal role in enhancing interior and exterior walls while safeguarding surfaces from stains and moisture. Diverse varieties cater to specific applications, such as kitchens, bathrooms, and both interior and exterior walls.

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Global expansion in the residential construction and renovation sector has been a key driver, with increased demand for wallpaper and tile wall coverings enhancing both the protection and aesthetics of exterior walls. Governments worldwide have invested significantly in the residential sector to meet rising population demands and elevate living standards. For instance, the U.S. government's $213 billion investment since April 2021 aims to construct and retrofit over 1 million residential and commercial buildings, including 500,000 homes for low and middle-income homebuyers. Such investments are anticipated to propel the wall covering market during the forecast period.



In 2021, the Asia-Pacific region claimed the highest market share, attributed to robust growth in the residential sector driven by rising population and income levels. The region anticipates extensive opportunities in renovation activities and building construction, fueling the demand for wallpaper and tile wall coverings in diverse applications.

However, the COVID-19 pandemic posed challenges as manufacturers halted operations in key markets like China, the U.S., and India, impacting sales and supply chains. The market faced constraints in manpower and raw material supply, hindering growth. Nonetheless, with the reopening of production facilities and the introduction of vaccines, the industry is poised for recovery.

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Key Findings of the Study

The tile segment dominated the market in 2021 in terms of revenue, with wall panels projected for significant growth during the forecast period.

The new construction segment led in revenue in 2021 among various applications.

Traditional printing types registered the highest revenue in 2021.

Asia-Pacific is projected to register the highest growth rate in the coming years.

The report profiles key players in the global wall covering market, offering insights into their strategies and competitive outlook.

The report provides an extensive analysis of current trends and emerging opportunities in the market, with in-depth global analysis for key segments between 2022 and 2031.




https://www.alliedmarketresearch.com/wall-covering-market-A13551

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About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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