Asia Pacific Wallpaper Market Report (2021-2031) by Scope, Segmentation, Dynamics, and Competitive Analysis

The Asia Pacific wallpaper market is projected to grow significantly, reaching approximately US$ 21,434.56 million by 2031, up from US$ 14,628.77 million in 2023, with an estimated compound annual growth rate (CAGR) of 4.9% during this period.

Executive Summary and Market Analysis

The wallpaper market in the Asia Pacific region is experiencing rapid expansion, driven by factors such as increasing urbanization, rising disposable incomes, and a growing interest in interior design. As economies in this region continue to develop, the demand for visually appealing interiors in homes and offices has surged. Wallpaper has become a favored choice for interior decoration due to its cost-effectiveness and versatility. Additionally, the rise in housing developments and the expanding urban middle class are key contributors to the wallpaper market's growth in Asia Pacific.

The region is recognized as a significant market for wallpaper, largely due to a boom in construction activities. Government initiatives, such as India’s Make-in-India program, are promoting the establishment of manufacturing facilities, further stimulating the market. The construction sector in India, which is the second largest after agriculture, contributes around 11% to the country's GDP, highlighting the potential for wallpaper demand in both residential and commercial sectors.

Key Players

Prominent companies in the Asia Pacific wallpaper market include Asian Paints, Berger Paints, D Dandeacute;cor, Marshalls Wallcoverings, Eximus Wallpaper, and Life n Colors. Recently, manufacturers have focused on innovation and expanding their product lines. For example, in February 2024, Life n Colors launched its new luxury wallpaper collection, Suneherii, which features intricate designs and sets a new standard in ultra-luxury wallpaper.

Market Segmentation

The Asia Pacific wallpaper market can be segmented by type and end-use. In terms of type, the market includes paper-based, vinyl-based, fabric-based, and other categories. As of 2023, vinyl-based wallpaper held the largest market share. Regarding end-use, the market is divided into residential and non-residential segments, with non-residential applications dominating in 2023.

Market Outlook

Vinyl-based wallpaper is increasingly favored by consumers due to its numerous advantages for both residential and commercial use. Its durability and longevity are significant benefits, as vinyl is robust and scratch-resistant, making it suitable for high-traffic areas while retaining vibrant colors and patterns over time. Moreover, vinyl wallpaper is water-resistant and washable, making it ideal for moisture-prone areas like kitchens and bathrooms, where easy maintenance is crucial. The practicality of vinyl wallpaper, combined with a diverse range of design options made possible by modern printing technologies, allows for creative applications in various settings. Additionally, some vinyl wallpapers are designed to emit low levels of volatile organic compounds (VOCs), enhancing indoor air quality and appealing to environmentally conscious consumers. These advantages are driving the growth of the wallpaper market.

Country Insights

The Asia Pacific wallpaper market includes countries such as Australia, China, India, Japan, South Korea, and others. China accounted for the largest market share in 2023. As one of the fastest-growing economies globally, China is witnessing a boom across various industries, fueled by improving living standards, a growing population, and increasing per capita income. According to the International Trade Administration, China is the largest construction market in the world, with an estimated investment of around US$ 4.2 trillion in new infrastructure during the 14th Five-Year Plan (2021–2025). The continuous population growth, rising household incomes, and urban migration are driving the residential construction sector, thereby increasing the demand for wallpaper. Furthermore, the Chinese government is actively promoting affordable housing initiatives, which further supports the wallpaper market's growth.

Company Profiles

Key players in the wallpaper market include 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. These companies are employing various strategies, including expansion, product innovation, and mergers and acquisitions, to enhance their product offerings and increase market share.

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