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Global Wall Coverings Market to Reach $37.5 Billion by 2026

`Wall Coverings` are defined as protective wall décor including a variety of materials such as wallpapers, wall tiles, interior paint, wall panels, and unframed mirrors. The global market for Wall Coverings is driven by the transformations in wall coverings to meet the demands of the modern consumer in terms of smart functionality, novel designs, and applications. The market is expected to maintain its growth momentum in the coming years driven by the transforming interior design and home décor trends, introduction of a broad range of viable wallpapers, wall panels and environment-friendly interior paints with unique styles and enhanced shelf life. Increase in housing renovation activities is also likely to create a strong demand growth scenario for interior décor manufacturers as disposable incomes of consumers increase. Major renovation projects create strong demand for interior décor items. Demand is anticipated to be especially strong for fire resistant substrates, textured prints and non-woven paper.

Global Wall Coverings market is projected to register moderate growth over the near-to-long term. The market, estimated at US$30.9 Billion in 2022 is projected to reach US$37.5 Billion by 2026, registering a compounded annual growth rate (CAGR) of 4.5% over the analysis period. Europe represents the largest regional market for Wall Coverings, accounting for an estimated 28.1% share of the global total. The market, estimated at US$8.1 Billion is projected to reach US$9.8 Billion by 2026. China is expected to spearhead growth and emerge as the fastest growing regional market with a CAGR of 6.2% over the analysis period. The market is expected to progress steadily to evolve as a major regional market for Wall Coverings, supported by various factors conducive to healthy growth.

The U.S. Market is Estimated at $4.9 Billion in 2022, While China is Forecast to Reach $7 Billion by 2026

The Wall Coverings market in the U.S. is estimated at US$4.9 Billion in the year 2022. China, the world`s second largest economy, is forecast to reach a projected market size of US$7 Billion by the year 2026 trailing a CAGR of 6.2% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.8% and 3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.4% CAGR. Demand for wall coverings in most developed countries is forecast to register growth driven by recovering demand from construction and infrastructure industries. Export demand for wall coverings from Asian countries to developed markets has also been on the rise thus driving growth in the regional market. Strengthening residential construction activity, huge markets such as China and India transitioning from primarily rural-based societies to modernized urban-based global economies, growing need for improved accommodation, exponential increase in urbanization, improving disposable income levels, expanding middle class and their changing attitude towards interior and exterior design and decoration represent primary growth drivers in the Asia-Pacific region.

Wall Tiles Segment to Reach $5.2 Billion by 2026

In the global Wall Tiles segment, USA, Canada, Japan, China and Europe will drive the 5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$3 Billion will reach a projected size of US$4.2 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$677 Million by the year 2026, while Latin America will expand at a 6.3% CAGR through the analysis period.