Vinyl Wallpaper Market Research, 2031
The global Vinyl Wallpaper Market Size was valued at $943.3 million in 2021, and is projected to reach $1.3 billion by 2031, growing at a CAGR of 3.3% from 2022 to 2031.
The vinyl wallpaper market is segmented into Product Type, Application and Distribution Channel.
Vinyl wallpaper is made up of two layers, including a carrier layer (recycled paper or a non-woven wallpaper base) and a decorative layer made of polyvinyl chloride. A synthetic foam layer gives embossed vinyl wallpaper models three-dimensional structures. Vinyl wallpaper is ideal for moist areas such as kitchens and bathrooms as it is easier to clean. Further, it is strong, washable, and resistant to tearing & scratching. Due to these characteristics, it is ideal for areas with high traffic and need for enhanced wall protection. Furthermore, vinyl wallpaper is available in a wide variety of colors and patterns, as well as a variety of textures. This boosts the growth of the vinyl-based wallpaper segment in the market.
The major factor driving the demand for Vinyl Wallpaper Industry is rise in consumer spending on home renovation, which is being driven by growth in disposable income. Vinyl wallpapers enhance the aesthetic appeal of a wall area more than interior paint while further protecting the structure from damage. Furthermore, increase in number of nuclear families, especially in developing countries coupled with rise in urbanization leading to increase in wall coverings products creates a huge demand for vinyl wallpapers.
Moreover, increase in awareness for interior designing is expected to increase the demand for wallcovering products such as vinyl wallpaper. In addition, rise in investment for R&D of wall coverings products to meet the consumer expectation fosters the Vinyl Wallpaper Market Size. Further, increase in use of vinyl wallpapers in commercial & marketing sector contributes toward the growth of the Vinyl Wallpaper Market Growth. Besides, rise in disposal income of consumers and change in their lifestyle are further anticipated to drive the market growth.
Rise in urbanization are the major factor to drive the market for commercial and household segment. With increased customer spending power, urban residents gain widespread acceptance for wallpaper as part of their interior decoration, causing a significant shift in the industry. Furthermore, the increase in the number of restaurants and the shift in perceptions of the working environment by private companies to cheer up their employees with a neat and refreshing office interior boosts the demand for vinyl wallpaper. The need for interior decoration and the budget for it vary depending on the consumer segment, prompting brands to differentiate their offers based on the needs of the organization or household.
According to organizational requirements, private firms require cost-effective decoration. Through various signs and symbols, the decorated wall conveys the organisational values and personality. In contrast, hotels and restaurants consider cost but require a highly decorative and high-quality wall that can represent the brand personality; thus, they spend a significant amount of money for this purpose. Hotels and restaurants consider it an initial investment, and budgets are prepared with the expected return on investment in mind. According to 75% of tourism brands, the decorative interior has resulted in high customer satisfaction and a 13% increase in customer retention, which increase of Vinyl Wallpaper Market Demand
Furthermore, governments are also encourage people to use more environment-friendly products in their homes. Furthermore, wallpaper helps to conceal flaws and holes in the wall. It also does not contain harmful substances such as lead, which will increase Vinyl Wallpaper Market Share.
The trend of decoration and the process to provide service have significantly evolved with the integration of augmented reality into operations, particularly through mobile applications. Companies have created an engaging mobile app for the users throughout the service delivery process. Brands recognize distinctions in preferences as well as potential market changes to comprehend the opportunities and risks that lie ahead for the brand in painting and coating business. Moreover, companies are increasingly focusing on developing environmentally friendly products in response to the growing trend of sustainable development, in line with the consumer demand for an optimized carbon footprint.
The global vinyl wallpaper market is segmented on the basis of product type, application, distribution channel, and region. By product type, it is categorized into solid vinyl wallpaper, vinyl coated wallpaper, and fabric backed vinyl wallpaper. Solid vinyl wallpaper is by far the most popular ones among the customers as it can withstand water & scrubbing, and is durable, washable, and long-lasting. Moreover, vinyl coated wallpaper has a paper base that is treated with a chemical form of vinyl such as acrylic vinyl which adds an extra layer of protection from humidity & moisture. Vinyl coated wallpaper is durable, water-resistant, stain-resistant, scrubbable, washable but tears more easily than other wallpapers. This home wallpaper is used in bathrooms and kitchens. Furthermore, fabric backed vinyl wallpaper consists of a thick woven fabric base that is used instead of paper. Fabric backed vinyl wallpaper is moisture resistant, durable, washable, scrubbable, and strippable.
On the basis of product type, the solid vinyl segment was the highest revenue contributor to the market with a value of $401.8 million in 2021, and is estimated to reach $527.9 million by 2031 with a CAGR of 2.8% . This is attributed to rise in number of hotels, restaurants, hospitals, and other residential & nonresidential building
On the basis of application, the market is bifurcated into household and commercial segments. The household segment held a significant share of 56.8% in the global market in 2021. Owing to increase in urbanization, urban construction will grow that will increase the demand of wallpaper for household complexes across the globe. Moreover, rapidly growing real estate is expected to fuel the demand for vinyl wallpaper in the market. The commercial segment of vinyl wallpaper market includes hotels, restaurants, corporate offices, industries, and hospitals. Furthermore, the demand for wallpaper in commercial application is expected to grow substantially due to rise in investments in commercial spaces such as airports, hospitals, hotels, and construction projects.
As per sales channel, the specialty store segment dominated the market in 2021 accounting for 44.84% of the market and is expected to retain its dominance throughout the forecast period. This is attributed to the fact that consumers are preferring vinyl wallpapers from various specialty store as it provides better customer services & higher quality products as compared to other stores.
Based on region, North America was the highest revenue contributor accounting for $377.3 million in 2021 and is estimated to reach $494.0 million by 2031 with a CAGR of 2.8% in Vinyl Wallpaper Market Forecast period. owing to presence of strong economic nations such as the U.S. and Canada. In the U.S., residential building construction is on the rise, fueling the growth of vinyl wallpaper market. Furthermore, the key elements expected to drive regional market expansion during the forecast period are an increase in disposable income and rise demand for home dÃ©cor items. Additionally, a number of regional governments are funding rehabilitation projects to create energy-efficient buildings. Such programmes offer growth opportunities to the vinyl wallpaper industry. The trend of nuclear families in North America coupled with improving standard of living of the population raises the demand for wallpaper. In addition, businesses have begun to invest in graphic design and more avant-garde styles which is anticipated to increase the demand for viny wallpapers in commercial spaces.
Owing to the COVID-19 epidemic, e-commerce has become more popular among consumers as compared to other product distribution channels. The establishment of online portals for vinyl wallpaper, especially in developing countries with a large population using the internet boosted the market growth. This could be attributed to the fact that consumers can choose from a wide range of options at the same time and receive the products delivered at their doorstep. This has created convenience for consumers, further driving them to shop online. Moreover, online stores are expected to expand in the near future due to rapid growth in the internet and increase in mobile users in emerging countries. The surge in e-commerce sales, improvements in logistics services, and ease in payment options for major brands are anticipated to boost the growth of the vinyl wallpaper market during the post COVID era.
The key players profiled in this report are AS Creation, York Wallcoverings Inc., Brewster Home Fashions LLC, Sanderson Design Group, F Schumacher & Co., Asian Paints, Osborne & Little, Lentex Corporation, Guilin Wellmax Wallcovering Co., Ltd., and Grandeco Wallfashion Group.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the vinyl wallpaper market analysis from 2021 to 2031 to identify the prevailing vinyl wallpaper market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the vinyl wallpaper market segmentation assists to determine the prevailing Vinyl Wallpaper Market Opportunity.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global vinyl wallpaper market trends, key players, market segments, application areas, and market growth strategies.
Vinyl Wallpaper Market Report Highlights
Market Size By 2031
USD 1.3 billion
CAGR of 3.3%
2021 - 2031
By Product Type
By Distribution Channel
Key Market Players
Asian Paints Ltd, brewster home fashions, A.S creation Tapetan AG, Guilin wellmax wallcovering co. ltd, Sanderson design group, F Schumacher & co, Grandeco wallfashion group, Lentex corporation, osborne & little, york wallcoverings
According to top-level CXOs, rise in awareness of home décor products is the key factor for the growth of the global vinyl wallpaper market. Rise in demand for various vinyl wallpapers from customers encourages manufacturers to develop new pattern of vinyl wallpapers, which is expected to drive the vinyl wallpaper's growth.
Rapid increase in construction of residential and commercial buildings such as IT parks, special economic zones, and other commercial spaces in various emerging nations are expected to drive the vinyl wallpaper market. Growing popularity of wall covering products lead the consumer to use vinyl wallpapers owing to their durability, washability, tear resistant ability, and attractive designs which further contribute to the market growth.
Furthermore, increased investment in commercial space such as airports, hospitals, hotels, and restaurants as well as customers' regular visits to restaurants and hotels drive up demand for wallpapers. Increase in disposable income of the consumers is one of the primary factors that drive growth of the global vinyl wallpaper market. Rise in demand for home decor and thereby increase in usage of trendy wall covering products is expected to augment demand for vinyl wallpaper in the market.