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Macro and Microeconomic Factors Continue to Impact Wall Covering Market
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The major driver of wall covering market include rising environment consciousness coupled with introduction of new styled product and greater shelf life. Also, rapid urbanization, growing middle class and rising standard of living are some of the factors which is also driving the market for wall covering globally.
However, small shelf life and high cost are the major factor which are restraining the wall covering market from its potential growth. The market is likely to witness the launch of variety of viable wall panels and wallpapers, eco-friendly interior paints. Technological advancement such as ink-jet printing technology which allows the ceramic surfaces to copy any look, design and texture is expected to boost the wall covering market globally.
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Europe is the main market for wall covering globally with highest growth rate and likely to remain the major market in terms of market value during the forecast period. Asia Pacific is anticipated to grow at a significant growth rate over the projected period primarily due to rising middle class and their changing attitude towards interior decors coupled with rapid urbanisation. However, US is single largest market globally for wall covering. China is one of the major producers of building materials and ranks first in the production of ceramic tiles worldwide. Latin America shows a positive growth in its countries such as Brazil and Chile due to growing architectural coatings.
Key players in the global market include Dal-Tile Corporation, Crossville Inc., , Emilceramica S.p.A, Marazzi Group, Johnson Tiles, , Blue Mountain, Brewster Home Fashions, F. Schumacher & Company, Marazzi Group, The Designtex Group, Decorative Panels International, Georgia-Pacific LLC, Nippon Paint Co. Ltd., Wilsonart LLC, Akzo Nobel N.V., Asian Paints Limited, Benjamin Moore & Co., Sherwin-Williams Company, and Valspar Corporation to name a few.
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