Usage of Computer Aided Graphic Designing Bolsters the Growth of Wall Covering Market
The advent of sophisticated and computer aided designing tools and solutions such as graphic designing and enhanced production capacities have triggered the mass production and popularity of a significant type of product in the global wall covering market known as ‘wallpaper’. New age wallpapers created by the players and manufacturers within the global wall covering market hold the potential to transform the traditional ideas regarding décor and indoor designing. Rising global population has also been triggering the growth of the global construction industry. Growing development of various residential construction projects to meet the demand from rising global population is expected to bolster the thriving global wall covering market in coming years.
Significant drivers for the global wall covering market include rising disposable income, new opportunities for employment in various fields, and rapid urbanization, especially in developed and developing economies. However, high competition from alternative wall decoration and aesthetics industry, i.e. paints and coatings, and adverse consumer perception regarding wall covering products can impede the growth of the global wall covering market in years to come. Players and manufacturers in the global wall covering market are focused on developing and manufacturing new products such as custom made wallpapers, textured wallpapers, and wallpaper borders. Breakthroughs in manufacturing and application technologies have made products in the global wall covering market easy to apply and easy to remove.
Global Wall Covering Market: Overview
Wall covering are designed to protect the wall surfaces from accidental marks or scratches. These covering further help neutralizing the interior of the building while customizing the interiors. These benefits are fueling the growth of global wall packaging market. The growth of the market is also driven by factors such as growing demand of wall covering materials in both industrial and residential sectors. Also, growth in disposable income of people in various countries is propelling the growth of global wall covering market in the forecast period of 2019 to 2027. Moreover, growing initiatives to revamp ancient buildings in many regions across the globe is also one of the major factors that is influencing the growth of global wall covering market in coming years.
A recent report by Transparency Market Research provides an in-depth analysis of global wall covering market for the forecast of 2019 to 2027. The repost sheds light on various facets such as key opportunities, major players, and competitive scenario of the global wall covering market for the estimated duration.
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Global Wall Covering Market: Notable Developments
The global wall covering market is highly fragmented and has an intense competitive landscape. Moreover, influx of various new entrants is also intensifying the competition in the market. Though global wall covering market has various players, it is dominated by few prominent ones. These players are adopting strategies such as acquisition of various start-ups and multiple medium scale businesses. This strategy is allowing the players to expand their production capacity and penetrate various regional markets. On the other hands, the new players are looking forwards to strategies such as mergers, collaborations, and partnerships in order to have a sustainable future in global wall covering market.
- In June 2017, Brewster Home Fashions acquired assets of Fetco Home Décor Inc. The move allowed the company to expand its product portfolio of home décor solutions. Owing to this, Brewster was also able to expand its resourced bank and establish a dominating presence in the market.
Some of the prominent players of global wall covering market are Dal-Tile Corporation, Crossville Inc., Emilceramica S.p.A, Marazzi Group, Johnson Tiles, Blue Mountain, Brewster Home Fashions, F. Schumacher & Company, and Marazzi Group.
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Global Wall Covering Market: Key Drivers
The growth of the global wall covering market is majorly driven by the surge in the real estate industry these days. The growing demand for premium real estate is influencing the growth of global wall covering market in the forecast period of 2019 to 2027. The surge in the residential construction is also one the prominent reasons that is promoting the growth of global wall covering market in coming years.
Moreover, growth in disposable income of people in various regions across the globe is also expected to fuel the growth of the market. Also, various initiatives to protect various ancient monuments and building across the globe is propelling the growth of global wall covering market in the forecast of 2019 to 2027.
Furthermore, growing demand for high-density apartments and trend to customize the interior according to the choice of the owner/tenant of the apartment is also fueling the growth of global wall covering market in coming years.
Global Wall Covering Market: Regional Outlook
Europe is expected to exhibit maximum potential in global wall covering market. The growth of the market is attributed to rising demand for quality apartments and various developments in construction industry. Moreover, Asia Pacific is anticipated to follow Europe in terms of growth of global wall covering market in the forecast of 2019 to 2027.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.