Wallpaper Market is expected to reach US$ 42.55 Billion by 2031

Proliferating Non-residential Construction Sector Bolsters Wallpaper Market Growth

According to our latest study on “Wallpaper Market Size and Forecast (2021–2031), Global and Regional Growth Opportunity Analysis – by Type and End Use,” the market size is expected to grow from US$ 30.55 billion in 2023 to US$ 42.55 billion by 2031; it is estimated to register a CAGR of 4.2% from 2023 to 2031. The wallpaper market report highlights key factors driving the market growth and prominent players along with their developments in the market.

The non-residential construction sector experiences a continuous need for non-residential developments. According to the US Commerce Department reported a 11.3% increase in total construction spending to US$2.05 trillion as of November 2022. Actual construction spending reached US$1.8 billion through November 2023, 6.2% higher than the previous year. Private non-residential construction spending reached US$698.2 billion, private residential construction at US$896.8 billion, and public construction at US$455.1 billion. The construction of hotels, resorts, shopping malls, office towers, and entertainment complexes to cater to the growing influx of population and businesses has aided the demand growth of wallpapers. Furthermore, the increased demand for non-residential and institutional spaces, including offices, retail stores, hospitals, and educational facilities, has led to a surge in the need for quality and visually appealing wallcovering to enhance these spaces' interior design and ambiance. Manufacturers are responding to this demand growth by introducing innovative wallpaper designs, textures, and materials catering to the non-residential construction sector's aesthetic preferences and functional requirements. Thus, the proliferating non-residential construction sector drives the wallpaper market.

Wallpaper Market Breakdown – by Region

The rising preference for eco-friendly wallpapers is also reflected in the adoption of certifications such as Leadership in Energy and Environmental Design (LEED) and Forest Stewardship Council (FSC). These certifications assure consumers that the products meet stringent environmental and sustainability standards. Many wallpaper manufacturers have adapted to this shift by offering eco-friendly products without compromising design and durability. For instance, in May 2024, Kernow Coatings launched the Eco Pro Lite, a 40% less plastic and synthetic toner with excellent print quality, addressing the growing demand for sustainable materials. This versatile media is ideal for indoor displays, outdoor signage, and promotional materials, offering exceptional print quality. Thus, the increasing preference for sustainability and eco-friendly building materials is expected to bring new trends into the wallpaper market over the coming years.

The wallpaper market analysis has been performed by considering the following segments: type and end use. Based on type, the market is segmented into paper-based, vinyl-based, fabric-based, and others. The vinyl-based segment is anticipated to hold a significant wallpaper market share by 2031. Based on type, the market is bifurcated into residential and non-residential.

In terms of revenue, Asia Pacific dominated the wallpaper market share in 2023. China is a major market for wallpaper in Asia Pacific. China is one of the fastest-growing economies worldwide. Almost all industries in the country are flourishing owing to improving living standards, increasing population, and growing per capita income. As per the International Trade Administration, China is the largest construction market worldwide. The total investment in new infrastructure during the 14th Five-Year Plan period (2021–2025) will reach approximately US$ 4.2 trillion (27 trillion yuan). In addition to the continuous population growth, rising household income levels and the increasing number of people migrating from rural to urban areas favor the proliferation of the residential construction industry in the country. The augmented focus on affordable housing by the public and private sectors further contributes to progress in the residential construction industry, thereby boosting the demand for wallpaper. Further, the housing authorities of Hong Kong have launched various measures, and officials aim to offer 301,000 public housing units by 2030. Such proactive initiatives by the Government of China fuel the wallpaper market growth in the country.

India is expected to register a significant CAGR in the wallpaper market from 2023 to 2031. Several emerging enterprises seeking cost-efficient manufacturing units are venturing into the Indian marketplace. Several international and domestic wallpaper manufacturers are setting up their production units in India owing to the availability of cheap labor in the country. According to Invest India, estimated FDIs in the construction development sector (housing, townships, built-up infrastructure, and construction development projects) and construction (infrastructure) activities reached US$ 24.72 billion in March 2021 from US$ 26.08 billion in April 2000. By 2025, the construction business in India is expected to become the third largest sector in the world. Further, government initiatives such as Housing for All are boosting the residential construction sector. Thus, the steady growth of the building & construction industry is supporting the expansion of the wallpaper market in India. 

The wallpaper market trends include the increasing demand for sustainable and eco-friendly products. The building & construction industry is majorly focusing on practicing sustainable construction to promote healthy and environmentally friendly living. As many individuals and businesses seek to reduce their carbon footprint, they opt for eco-friendly options. Traditional wallpaper often relies on vinyl, which is harmful to the environment as it is nonbiodegradable and emits volatile organic compounds (VOCs). Further, manufacturers offer wallpapers made from cork, grass cloth, bamboo, and recycled paper. These alternatives reduce environmental impact and provide unique texture and aesthetics, appealing to those who value both sustainability and design innovation.

The wallpaper market forecast can help stakeholders plan their growth strategies. Milton & King Pty Ltd, Walls Republic US, A-Street Prints, Abigail Edwards, Glamora Srl, Coordonné, Borastapeter AB, Sanderson Design Group, Asian Paints Ltd, Wall&decò S.r.l., Galerie Limited, Farrow and Ball Ltd, Osborne and Little, Cole and Son (Wallpapers) Ltd, and Holden Deco are among the prominent players profiled in the wallpaper market report. These market players are focusing on providing high-quality products to fulfill customer demand. They are also adopting strategies such as new product launches, capacity expansions, partnerships, and collaborations to stay competitive in the market. For instance, in March 2024, Morris & Co. announced a direct-to-consumer collaboration that will make its wallpapers, fabrics, and licensed products available in a dedicated online shop for customers in the UK, the US, and a few other countries worldwide.

The wallpaper market is segmented on the basis of type, end use, and geography. Based on type, the market is segmented into paper-based, vinyl-based, fabric-based, and others. In terms of end use, the market is bifurcated into residential and non-residential. By geography, the wallpaper market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The North America market is further segmented into the US, Canada, and Mexico. The market in Europe is subsegmented into Germany, France, the UK, Italy, Spain, and the Rest of Europe. The Asia Pacific market is further segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The wallpaper market in the Middle East & Africa is subsegmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The market in South & Central America is further segmented into Brazil, Argentina, and the Rest of South & Central America.

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