At 4.9% CAGR, Asia Pacific Wallpaper Market is Projected to be Worth US$ 21,434.56 Million by 2031, Says Business Market Insights

According to Business Market Insights' research, the Asia Pacific wallpaper market was valued at US$ 14,628.77 million in 2023 and is expected to reach US$ 21,434.56 million by 2031, registering a CAGR of 4.9% from 2023 to 2031. Increasing home décor and interior design activities and advantages of vinyl based wallpaper are among the critical factors attributed to the Asia Pacific wallpaper market expansion.

Many end-users focus on creating personalized and visually appealing living spaces, boosting the demand for versatile and decorative wallpaper solutions. People are spending more time at home, and homeowners are taking on various decorating tasks, including wallpaper installation. Also, the evolving preferences of the younger generation, such as millennials and Gen Z, contribute to increased wallpaper demand. The demographic group has a greater inclination toward personalized and expressive home décor, often seeking unique wallpaper designs to reflect individual style and create a sense of ambiance in their living space. As a result, manufacturers are introducing a diverse range of patterns, textures, and finishes in wallpapers that cater to consumer needs. For instance, in February 2024, Life n Colors, a renowned luxury wallpaper brand, introduced its latest collection, Suneherii, featuring intricate detailing and a new standard for ultra-luxury wallpaper designs. Also, in March 2024, Lisa Fine, a Texas textile designer, launched Persian Garden, the first wallpaper line, in collaboration with Italy's San Patrignano Design Lab. Furthermore, the rising popularity of home staging, inspiring offices, and real estate photography drives the demand for wallpaper as it enhances the visual appeal of residential properties. Therefore, the rise in home décor and interior design activities is expected to create a a significant opportunity for the growth of the wallpaper market during the forecast period.

On the contrary, availability of alternative hampers the growth of Asia Pacific wallpaper market.

Based on type, the Asia Pacific wallpaper market is segmented into paper based, vinyl based, fabric based, and others. The vinyl based segment held 37.5% share of the Asia Pacific wallpaper market in 2023, amassing US$ 5,488.42 million. It is projected to garner US$ 8,093.97 million by 2031 to expand at 5.0% CAGR during 2023–2031.

Based on end-use, the Asia Pacific wallpaper market is segmented into residential and non-residential. The non-residential segment held 65.3% share of the Asia Pacific wallpaper market in 2023, amassing US$ 9,547.56 million. It is projected to garner US$ 13,790.00 million by 2031 to expand at 4.7% CAGR during 2023–2031.

Based on country, the Asia Pacific wallpaper market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China held 37.5% share of Asia Pacific wallpaper market in 2023, amassing US$ 5,480.47 million. It is projected to garner US$ 8,441.15 million by 2031 to expand at 5.5% CAGR during 2023–2031.

Key players operating in the wallpaper market are Milton & King Pty Ltd.; Walls Republic US; A-Street Prints; Abigail Edwards; Glamora Srl; Coordonné; Boråstapeter AB; Sanderson Design Group; Asian Paints Ltd; Wall&decò S.r.l.; Galerie Limited; Farrow & Ball Ltd; Osborne & Little; Cole & Son (Wallpapers) Ltd; and Holden Décor, among others.

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