Digitally Printed Wallpaper Market Size to Outstrip $17,676.0 Million by 2027: The Insight Partners

Digitally Printed Wallpaper Market Size to Outstrip $17,676.0 Million by 2027: The Insight Partners

“The Insight Partners”
Digitally Printed Wallpaper Market Share is emerging with Growing Adoption of Digitally Printed Wallpaper in Diverse Sectors by 2027

Digital printing is an essential part of the graphics market. Digital wallpaper technologies provide more choices of substrates to the designers and developers owing to the usage of noncontact printing. This further removes the distortion of images, which usually occurs in the analogue process. Rising demand for digital printing leads to more significant development and adoption of digitally printed wallpaper technology.

According to our latest market study on “Digitally Printed Wallpaper Market Forecast to 2027 – COVID-19 Impact and Global Analysis– Substrate (Nonwoven, Vinyl, Paper, and Others), Printing Technology (Inkjet and Electrophotography), and End-User (Residential and Commercial),” the market was valued at US$ 3,253.3million in 2019 and is projected to reach US$ 17,676.0 million by 2027; it is expected to grow at a CAGR of 24.2% from 2020 to 2027.

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Impact of COVID-19 Pandemic on Digitally Printed Wallpaper Market

According to the latest report from World Health Organization (WHO), the US, Spain, Italy, France, Germany, the UK, Russia, Turkey, Brazil, Iran, India, and China are a few of the worst affected countries due to COVID-19 outbreak. The outbreak was first reported in Wuhan, China, in December 2019. The crisis is adversely affecting various industries across the world. The global economy is taking the worst hit, and it is likely to continue in 2021 also. The sharp decline in international trade is hindering the growth of the global economy. The production shutdowns, supply chain restrictions, procurement management, labor scarcity, and border lockdowns to combat and contain the outbreak are restraining the construction sector. Production slowdown in the construction industry is directly restricting the adoption of various ad-hoc products and solutions such as digitally printed wallpaper. Moreover, the construction companies and end-users are reducing their spending on adopting several technology-based products to deal with the current scenario, which is hindering the growth of the digitally printed wallpapers market.

The global digitally printed wallpaper market is segmented into five major regions: North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and South America (SAM). In 2019, APAC held the largest market share. However, MEA is anticipated to be the fastest-growing region during 2020–2027. Rapid urbanization in APAC leads to substantial investment by local and foreign players in the construction sector, particularly in residential projects. Further, digitally printed wallpapers are majorly used by interior designers and developers in remodeling and renovation projects. Furthermore, surging demand for new houses and rising living standards are likely to boost demand for digitally printed wallpapers in the near future.

In 2019, Europe stood second in the digitally printed wallpaper market with a decent market share; it is anticipated to register steady CAGR from 2020 to 2027.Germany, France, Russia, the UK, and Italy are among the major countries in Europe. The construction industry is a crucial part of the European Union’s (EU) economy as it contributes ~9% of the EU’s GDP (as per the European Commission). Countries in Western Europe are technologically advanced and urbanized; on the other hand, Eastern European countries are gradually urbanizing their cities. The growing demand for commercial infrastructures such as offices, malls, hotels and resorts, and airports in the region supports the growth of the construction industry. The demand for printed wallpapers directly depends on the size of the construction industry; therefore, the growing construction industry across the region supports the growth of the digitally printed wallpaper market in Europe

Strategic Insights:

The players operating in the digitally printed wallpaper market focus on strategies such as mergers, acquisitions, and market initiativesto maintain their positions in the market. A few developmentsby key players are listed below:

  • In 2020,A.S. CRÉATION TAPETEN AG announced its new wallpaper collection named “new life”, which offers striking designs, clear colors, and a mixture of graphic and floral patterns.
  • In 2020, Muraspec launched two brand new sophisticated designs Herringbone and Accord. The company claims that these are unique textured products made from specialty inks to enhance the luxurious look.

 

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