Wall Covering Market to be Valued $29 Billion by the Year 2017

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Wall Covering MarketDemand for wallpaper products is estimated to grow by 7.3% annually

From a dull economy in the year 2010, things have picked up well for the home and commercial décor products, especially the wallpaper products have seen tremendous profit making phases. The wallpaper section of the interior décor industry was negatively impacted during the slowdown era but as the world economies started returning to normality; things for the sector started looking greener. Varieties in the products available, widespread usage and global demands are factors which keeps the sector amongst the buzzing businesses. The wallpaper covering products are projected a growth of 8.2% on a yearly basis and it is likely to be worth $2.2 billion by the end of 2015. This is seen as a healthy recovery from an extremely weak status during the economic crises in the year 2010.

The global wall covering products market was valued at $24 billion by the finish of 2011; it is predicted to have a $5 billion gain in a short span of 5 to 6 years. This is calculated as a CAGR growth of 2.6% for the periods from 2009-2017 seen as a positive climb for the industry globally. Talking of the US housing industry and its downfall period, it was in the year 2008-09 where the industry along with the global real estate sector witnessed a negative curve. However, this condition changed soon after in the following financial years 2010-11 in which the sector in the country raised in business almost by 44%. Interior paints continue to lead the list of most sold interior products with a strong holding share of 59% in the worldwide market.

Going by the market research, the future may seems to be different as this leading position may be overtaken by the wallpaper covering products. This segment of the industry is estimated to grow with a CAGR of 3.02% from the periods 2009 to 2017.

Impressed by the product innovation and armed by the better amounts of disposable incomes; people today are interested in opting for wallpaper coverings which have altered from being a mere fancy décor item to a rich interior enhancement product. This product of home or office décor is manufactured in various designs and styles according to the nature of the place where it is produced.

America and some European countries along with countries from Middle East and Canada lead the demand aspect for these wallpaper covering products. The recent upsurge in global economy has enabled developing countries which are also famous emerging economies from the Asian-Pacific belt are likely to become the fastest growing markets in the coming years.

All interior products are expected to seen an increase in sales starting from wallpaper covering products to paints and wall tiles. According to the experts from the sector, the name and popularity of the designer is the driving force for the products more than the brands. Ralph Lauren, Tommy Hilfiger Home, Alexander Julian and Gloria Vanderbilt are some of the world renowned designers for wallpaper covering products.