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Wall Covering Market size is forecast to reach $57,168.9 Million by 2026, after growing at a CAGR of 7.1% during 2021-2026.

HYDERABAD, TELANGANA, INDIA, November 29, 2022 /EINPresswire.com/ -- Wall Covering Market size is forecast to reach $57,168.9 Million by 2026, after growing at a CAGR of 7.1% during 2021-2026. Increasing government initiatives and investments to enhance and promote the building and construction activities across various regions, will raise the usage of wall coverings which will further drive the growth of the market. In addition, the increasing demand for wall tiles, which has alluring properties such as being more useful, easy to use, and install in remodeling and renovation projects, is expected to boost the wall covering industry. Furthermore, due to the increasing initiatives in the renovation of buildings the demand for wall coverings is expected to rise during the forecast period.

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Key takeaways:

This IndustryARC report on the Wall Covering market highlights the following areas -

1. Asia-Pacific region dominated the wall covering market owing to a change in government emphasis and investments on residential and commercial construction growth.

2. Rising usage of ceramic wall tiles owing to the durability, water resistance, and esthetic design, in the residential and commercial construction sector to withstand unavoidable spills and rigorous cleaning procedures will raise the demand for wall tiles in the upcoming years.

3. Moreover, the presence of alternatives such as paints & coatings for creating more alluring walls would further create hurdles for the growth of the wall covering market in the forecast period.

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Segmental Analysis:

1. Wall Covering Market Segment Analysis -By Product Type : Tiles held the largest share in the wall covering market in 2020 and is expected to grow with the CAGR of 6.8% during the forecast period. More modern homes are opting for contemporary designs, large format wall tiles are becoming increasingly common in today's interiors. One of the benefits of large format wall tiles is that there is less grout, resulting in a much smoother and sleeker overall effect. Another advantage of having fewer grouting lines is that it requires less upkeep, which keeps your space looking newer for longer.

2. Wall Covering Market Segment Analysis -By Application : Commercial segment held the largest share with 46% in the wall covering in 2020 and is anticipated to grow at a CAGR of 7.9% during the forecast period 2021-2026. Wall coverings are used in interior and exterior of commercial buildings in order to enhance the overall look and design of home and also to protect the walls. Wall coverings also make the walls of commercial buildings sound proof, water proof, moisture proofs and more. The government across the world is heavily investing in the commercial buildings.

3. Wall Covering Market Segment Analysis – By Geography : Asia-Pacific region dominated the wall covering market in terms of revenue with a share of 57.6% in 2020 and is projected to dominate the market during the forecast period (2021-2026). The demand for wall coverings such as wall papers, vinyl wall covering, wall panels, and others is majorly driven by household customization. According to International Trade Centre (ITC), Australia exported wall paper and similar wall covering of paper worth US$1,037 thousand in 2016, which then increased to US$2,552 thousand in 2020.

Competitive landscape:

The top 5 players in the Wall Covering industry are:

1. Shaw Industries Group, Inc.,
2. J. Josephson, Inc.,
3. Mohawk Industries Inc.,
4. Roca Corporacion Empresarial, Sa.
5. Crossville, Inc.

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