Wallpaper has been in the market for more than 100 years ago, while its usage has seen some drastic rise and fall. Earlier these wallpapers were used as an alternative to tapestries used by affluent homeowners, however, it has today become a luxury decorating tool. This transformational journey from being “a cost-effective alternative to luxury item” to becoming “the luxury item” has resulted in the stunning comeback of wallpaper. Wallpapers add aesthetic appeal to any space including drawing rooms, conference rooms, showrooms, malls, etc. Currently, a majority of the wallpapers are used in residential settings but demand for customized wallpapers is increasing in commercial buildings.
According to ReAnIn, the global digitally printed wallpaper market was valued at USD 2,904.92 million in the year 2021 and is projected to reach USD 8,038.10 million by the year 2028, registering a CAGR of 15.7% during the forecast period. Increasing demand for better aesthetic wallpaper, higher use of digital technology, and growing investment in infrastructure particularly urban housing are leading drivers of this market. According to the World Bank, more than 50% of the global population lives in urban areas currently and the urban population is expected to increase by 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.
Impact of COVID-19 on the Digitally Printed Wallpaper Market
COVID-19 pandemic had a severe negative impact on the market as it stalled the majority of the construction projects. Moreover, due to the adverse impact of COVID-19 on the overall economy, people were reluctant to spend on avoidable things like wallpaper. According to the Pew Research Center, the unemployment rate increased from 3.8% in 2019 to 8.6% in 2020 in the US, compared with an increase from 6.9% to 7.1% in the EU. However, the economy has bounced back post-COVID-19 which in turn is expected to lead to growth in the digitally printed wallpaper market.
Key Highlights of the Report:
- Among substrates, vinyl accounted for the majority of the market share in 2021 and is expected to retain its dominance over the forecast period owing to various factors such as low-cost, high durability, and easy maintenance.
- Currently, inkjet technology accounted for the largest market share and is expected to grow at a significant growth rate during the forecast period (2022-2028).
- Among regions, Asia Pacific accounted for the largest market share in 2021 and is also expected to witness 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 on: Global Digitally Printed Wallpaper Market
ReAnIn has segmented the global digitally printed wallpaper market by:
- End-Use Sector
- Automotive & Transportation
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
Leading players operating in the global digitally printed wallpaper market are A.S. 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 2018, EQT Mid Market Asia acquired a 40% stake in Artwall, a leading wallpaper designer, manufacturer, and retailer in China.