The Americas wall coverings market size was valued at $67,034.4 million in 2021 and is projected to reach $1,04,199.0 million by 2031, registering a CAGR of 4.6% from 2022 to 2031.
Wall coverings is used to enhance the aesthetic appearance and protect the vertical surfaces of houses and offices. Depending on individual needs, it is a coverings that may be used on both internal areas and external facades. Wall coverings are widely implemented in residential and non-residential sectors. Wallpaper, wall-panel, and tiles such as marble and ceramics are some of the popular materials used as wall coverings. Wallpaper and tiles are used at offices, business premises, and homes to make them look elegant and stylish.
Americas wall coverings market has grown due to expansion of residential and non-residential construction in emerging countries. Furthermore, these coverings have various advantages, such as being moisture & stain resistant, they enhance texture, and protect wall surface. All of these benefits are expected to propel the Americas wall coverings market forward. Moreover, increase in government and private investments in infrastructure in developed countries have fueled the market growth. In addition, technological advancement in digital and traditional printing has created growth opportunities for Americas wall coverings market forecast period.
The Americas wall coverings market has experienced growth as a result of increase in construction and infrastructure activities in countries like U.S, Canada and Brazil. A change toward visually pleasing interior and exterior wall designs has occurred as a result of rise in personal disposable income, which is anticipated to support market development. Furthermore, rise in construction spending in developing countries is expected to have a positive impact on total market demand. For instance, in March 2022, the U.S. President invested $3.1 billion in funding for new energy-efficient residential buildings. Hence, these investments are expected to provide lucrative in the Americas wall coverings market growth.
On the basis of type, the tile segment generated the largest revenue in 2021 due to an increase in demand from residential and commercial buildings for wall protection and to enhance interior and exterior wall appearance. They're also naturally resistant to humidity, making them ideal for walls an area that is very hot or moist. Moreover, tiles are permanent and easier to clean. These merits are projected to boost the demand for the product, which is estimated to drive the overall market growth in the coming years.
The novel coronavirus (COVID-19) rapidly spread across various countries and regions in 2019, causing an enormous impact on lives of people and the overall community. It began as a human health condition and has now become a significant threat to global trade, economy, and finance. The COVID-19 pandemic halted production of many products in the wall coverings market in Americas, owing to lockdowns. Furthermore, the number of COVID-19 cases is expected to reduce in the future with the introduction of the vaccine for COVID-19 on the market. This has led to reopening of Americas wall coverings companies to their full-scale capacities. This is expected to help the market recover by the end of 2022.
On the basis of region, North America registered the highest revenue in 2021, owing to a rise in infrastructure activity in the region. Moreover, surge in construction activities owing to rapid urbanization & industrialization is estimated to boost the demand for wall coverings in America. In addition, increasing spendings of renovation and remodeling of residential units are projected to fuel the Americas wall coverings market.
By Region
North America holds a dominant position in 2021 and Latin America is expected to grow at a significant rate during the forecast period.
On the basis of application, the new construction segment accounted for the highest revenue in the market in 2021, owing to the rise in population and urbanization, surge in new construction activities have been observed. Such factors will increase the demand for wall coverings in Americas. For instance, in August 2022, The Prime Minister, of Canada has announced a major investment of over $2 billion to support construction of 17,000 homes for families across the country, including thousands of affordable housing units.
By Application
New Construction segment holds dominant position in 2021
On the basis of end user, residential segment registered the highest revenue in 2021. This is due to increase in urbanization, there has been increase in residential construction units in countries such as the U.S., Canada and Brazil. Moreover, government investments in residential construction are fueling the segment growth.
By End User
Residential segment holds dominant position in 2021
The market is segmented on the basis of product type, application, end user and region. On the basis of product, the market is divided into paint, wallpaper, plaster panel and tiles. On the basis of application, the market is divided into new construction and renovation. On the basis of end user, the market is divided into residential and non- residential. Region-wise, the market analysis is conducted across North America and Latin America.
By Product Type
Wall-paper segment is projected to grow at a highest CAGR
Competition Analysis
The key players that operating in the Americas wall coverings market are Adfors / Saint Gobain, Benjamin Moore & Co., Brewster Home Fashions, Crossville Inc., Daltile, F. Schumacher & Co., J. Josephson Inc., Maya Romanoff Corporation, Waldan Paper Services LLC, and York Wall coverings.
Key Benefits for Stakeholders
- The report provides an extensive analysis of the current and emerging market trends and dynamics.
- In-depth market analysis is conducted by constructing market estimations for key market segments between 2022 and 2031.
- Extensive of the Americas wall coverings market analysis is conducted by following key product positioning and monitoring of top competitors within the market framework.
- A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
- The Americas wall coverings market forecast analysis from 2022 to 2031 is included in the report.
- The key players in the Americas wall coverings market share are profiled in this report and their strategies are analyzed thoroughly, which helps understand the competitive of the Americas wall coverings market outlook.
Americas Wall Coverings Market Report Highlights
| Aspects | Details |
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Analyst Review
The Americas wall covering market has observed huge demand in U.S., Canada, Brazil, and Mexico. North America has accounted the highest revenue of the market in the 2021. The implications of renovation and remodeling of existing buildings to abolish substandard architecture are expected to provide new opportunities mainly in the North America market over the coming years. Significant upgrades to educational, mall, hotel, and resort buildings are expected to provide strong growth opportunities during the forecast period in U.S. and Brazil. Moreover, various technological advancements, digital printing, and wallpapers are expected to provide lucrative growth in the market.
Various market players have adopted strategies such as product launches, business expansions, acquisitions, and agreements to expand their businesses and strengthen their market position. For instance, in May 2022, Benjamin Moore has launched its ultra-premium AURA Interior paint with a new acrylic resin and cutting-edge formula to bring the coating to new heights of beauty and performance. The new formula enables smoother application across all sheens and provides superior hide across the full color spectrum. Additional enhancements made to the dry film properties result in a low VOC coating that resists scuffs, stains and color rub-off. ?As a result, such strategic moves are expected to provide lucrative growth opportunities in the Americas wall covering market.
The Americas wall coverings market size was valued at $67,034.4 million in 2021.
Based on product type, the tiles segment holds the maximum market share of the Americas wall coverings market in 2021.
The Americas wall coverings market is projected to reach $1,04,199.0 million by 2031.
Rapid urbanization in emerging economies and growth in construction sector are the key trends in the Americas wall coverings market.
The product launch is key growth strategy of Americas wall coverings industry players.
The company profile has been selected on factors such as geographical presence, market dominance (in terms of revenue and volume sales), various strategies and recent developments.
Increase in costs of raw materials and uncertainties in real estate are the effecting factors for Americas wall coverings market.
The end users of Americas wall coverings includes residential and non-residential.
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