United States Wall Coverings Market - Growth, Trends, COVID-19 impact, and Forecasts (2022 - 2027)

United States Wall Coverings Market - Growth, Trends, COVID-19 impact, and Forecasts (2022 - 2027)

The United States Wall Covering Market registered at a CAGR of 3.41% during the forecast period (2022-2027). Gains in the US Wallcovering Market be driven by a recovery in construction activity, especially in the residential sector of the region. Demand for wall coverings has also benefitted from the turnaround in the prospects for wallpaper, which has suffered from negative consumer perceptions and stiff competition from paint and coatings. The region's increasing disposable income and rapid urbanization have resulted in the increasing usage of wall coverings, along with other modern products, such as window frames with very low heat transmission, electrical cables and conduits, easily cleaned flooring, and light-reflecting roofing. Marketing environmental factors such as interest rates, new housing, commercial construction statistics, homeowner remodeling, and repair spending have also been driving the market.

Key Highlights

• The expansion of the wall coverings market is driven by rising standards of living, the desire for a luxurious existence, and household customization due to increased disposable income. Furthermore, advancements in innovation and better-quality items, such as bespoke 3D walls printed with ink-jet printing technology, have enticed high-income consumers to purchase wall coverings.
• Most wall covering products are simple to maintain and long-lasting, projected to increase customer demand. As a result of the expanding population and urbanization, investments in infrastructure activities are likely to promote the growth of the wall coverings market throughout the forecast period.
• Paint is considered a better alternative, as compared to wall coverings in specific uses. Furthermore, removing existing wallpaper can be a tiresome task that needs the right tools to be efficient. Stripping wallpaper can be achieved with chemicals or stripping tools, but care must be taken, or the wall can be damage.
• According to Dodge Construction Network, the value of commercial and multifamily construction starts in the top 20 metropolitan regions of the United States climbed 18% from 2020 to 2021. Nationally, commercial and multifamily construction in the United States rose by 16% in 2021. Commercial and multifamily starts increased 18% in the top half (the top ten metro areas) in 2021, with two metro areas, Washington, DC, and Los Angeles, CA, reporting declines.
• The New constructions in this region increase an opportunity for the Wall coverings market suppliers. For instance, According to BEA, The construction sector in the United States is one of the world's largest, with private spending continuing to rise year after year and around 8 million people employed. By 2023, new construction is estimated to be worth USD 1,449 billion.
• During the Pandemic, new home development was further hampered by the closure of government agencies that provided permits and disruptions in the supply chain for construction supplies. which also affected the Wall Coverings Market in the United States.
• Despite the Pandemic, there is some good news for renters in 2021: According to a recent survey from RentCafé, rental property construction has stayed at almost the same rate as in the preceding four active years of apartment construction. For the fifth year in a row, over 330,000 new rental units are scheduled to open across the United States in 2021.

Key Market TrendsRebounding Residential Construction Activity in the United States is Boosting the Market

• Residential constructions account for a significant portion of the wallcovering market and are expected to increase considerably. Employment opportunities and population expansion are substantial drivers of the rising demand for new housing since sustained population growth in the United States has raised the demand for all types of housing, including apartments.
• The United States Census Bureau and the United States Department of Housing and Urban Development jointly released the following new residential building statistics for April 2022: 1,819,000 building permits issued, 1,724,000 housing starts, and 1,295,000 housing completions.
• According to US Census Bureau, after a considerable decline during the 2008 Great recession, the value of the new commercial building in the United States has recovered to pre-recession levels, hitting 91.03 billion USD in 2021. In 2022, the value of construction starts in the United States reached USD 135 billion. Moreover, the most popular forms of commercial construction started in the United States were private offices. Private offices, warehouses, and shopping/retail facilities will maintain their attractiveness in the coming years.

Incremental Innovation in Wallpaper Products Drives Market Growth

• The wallpaper segment of the market is seeing a constant innovation, such as the replacement of Osnaburg with non-woven backing and lightweight. Besides, the incorporation of other characteristics, like breathable fabrics that eliminates the limitations of molds, is considerably promoting the growth of the wall-coverings market in both commercial and residential sectors.
• Furthermore, advancements in wallpaper technology will improve sales opportunities by making these materials easier to apply and remove. Therefore, through 2022, the more attractive possibilities for building construction in residential & non-residential markets and home improvements will enhance wallpaper demand.
• Rising standard of living, Increased disposable income lead to a desire for a better outlook on living and working spaces, and part of achieving that is conditioning one's brain to think more positively, which they may do the surrounding themselves with the wallpapers that make them happy.
• Many companies in the United States are investing in producing environmentally friendly and attractive wallpapers. In addition, numerous corporations are using additional techniques to retain or expand market shares, such as mergers and acquisitions. In May 2021, for instance, F. The Backdrop paint company was purchased by Schumacher & Co. This acquisition allows the company to increase its market share by adding Premium wall coverings to its product line.

Competitive Landscape

The United States Wall Covering Market is moderately competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. These major players, with a prominent share in the market, are focusing on expanding their customer base across different countries. These companies are leveraging strategic collaborative initiatives to increase their market share and increase their profitability. The companies operating in the market are also acquiring start-ups working on Wall Covering technologies to strengthen their product capabilities.

• June 2022 - Crossville launches the classic grooves porcelain tile collection with swirling surface glints and glows with a soft, sophisticated sheen. The ultimate product is a collection of aesthetically improved warm and cool neutral tiles accented by various decorative elements.
• August 2021 - The Furniture Mart USA from Sioux Falls, South Dakota, broke ground on a 300,000-square-foot expansion of its headquarters and distribution hub. The 650,000-square-foot plant will serve as a hub for the company's 1,200 employees and offer the product for its Furniture Mart, Ashley HomeStore, and Unclaimed Freight Furniture stores in North Dakota, South Dakota, Minnesota, Wisconsin, Illinois, and Iowa after it is done.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.