Digitally Printed Wallpaper Market Worth 7.74 Billion USD by 2023
PUNE, India, June 8, 2018 /PRNewswire/ --
The report "Digitally Printed Wallpaper Market by Substrate (Nonwoven, Vinyl, Paper, Others), by Printing Technology (Inkjet, Electrophotography), by End-use Sector (Residential, Non-residential, Automotive & Transportation), and Region - Global Forecast to 2023", published by MarketsandMarkets™, the market is projected to reach USD 7.74 Billion by 2023. The Digitally Printed Wallpaper Market size is projected to grow from USD 2.53 Billion in 2018 to USD 7.74 Billion by 2023, at a CAGR of 25.0%. The market is projected to witness significant growth in the next few years with the increasing demand for new constructions all over the world due to rapid urbanization and industrialization with large-scale investments in the industrial and infrastructural sectors. Growing construction activities in emerging economies and demand for interior decoration have subsequently created growth opportunities for the Digitally Printed Wallpaper Market.
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The residential segment, by end-use sector, is projected to gain maximum traction during the forecast period.
The residential segment dominated the market in 2017 and is projected to be the fastest-growing end-use sector over the next five years. As a result of the rising urbanization and industrialization, the demand for aesthetically appealing interior decoration is also growing. This market is driven by the surge in demand for new constructions across the world. Increasing public and private investment in the infrastructure sector in emerging economies of Asia Pacific, the Middle East, and South America are drivers for the growth of this market as well.
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Nonwoven to be the fastest-growing segment in the Digitally Printed Wallpaper Market, in terms of value.
The nonwoven segment is projected to be the fastest-growing segment during the forecast period. This growth can be attributed to its wide range of benefits such as tear-resistance, washability, breathability; and less installation and removal time. Moreover, these wallpapers do not shrink when dry, are lightweight and flexible. The above properties enable them for use in high traffic areas such as kitchen, bathrooms, and hallways.
The Asia Pacific region constitutes the largest share in the Digitally Printed Wallpaper Market.
Asia Pacific contributes a major market share in the global Digitally Printed Wallpaper Market. Increasing industrialization, as well as growing population in China, Indonesia, and India, are experiencing high demand for residential and non-residential constructions. Asia Pacific is the hub of foreign investment and the residential & non-residential construction sectors, largely due to the low-cost labor and cheap availability of land. Also, the growing middle-class population and the rising standard of living will increase the demand for new houses, which will further boost the demand for digitally printed wallpaper in the construction industry.
The global market for the digitally printed wallpaper is dominated by players such as A.S. Création Tapeten (Germany), Muraspec Decorative Solutions (UK), Tapetenfabrik Gebr, Rasch GmbH & Co. KG (Germany), Graham & Brown (England), MX Display (UK), Flavor Paper US), 4walls (US), Peggy-Betty Designs (UK), The Printed Wallpaper Company (UK), Hollywood Monster (UK), and Great Wall Custom Coverings (US).
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