Selbyville, Delaware, March 10, 2022 (GLOBE NEWSWIRE) --
The wall décor market is expected to surpass USD 40 billion by 2028, as reported in a research study by Global Market Insights Inc. The changing lifestyle and adoption of western culture by developing nations lead to rapid urbanization. This results in increasing personal income levels and eventually the cause of changing tastes, preferences, and needs of people. Constantly changing architectural designs and the rapidly growing construction industry requires an aesthetic look and innovative interior design.
The rising trend of ‘Do It Yourself’ in the home décor segment will hamper the wall décor market growth to a major extent. Recycling artifacts is the cost-effective and preferable way for changing the glance, sense, and view of the room. This will positively affect the sale of wall décor products for short period. Also, the COVID-19 global health crisis disrupted the global supply chain and has a long-lasting impact on the personal spending of people, resulting in stagnant market demand. Nevertheless, the market will grow again once the transportation and supply chains return to regularity.
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The hanging wall segment is estimated to reach USD 285 million by 2028. Instead of consummating the basic need of the clock, people tend to buy unique and antique multifunctional wall clocks. The major players in the wall clock industry are trying to deliver innovative products with weather forecast systems, internet connectivity, voice command, AI-powered systems, and Bluetooth connectivity.
The specialty store segment is predicted to grow at a CAGR of around 5.5% through 2028. The availability of all required products in one place is attracting more customers. Manufacturers also heavily invest in R&D and product development to provide products such as waterproof wallpapers, low maintenance products, washable & durable wall hangings, and sustainable & eco-friendly wall décor products.
The rapidly growing hospitality industry in Europe and the Middle East will boost the wall décor market for commercial use. The commercial segment is poised to generate about 16.5 billion in revenues by 2028. Wallpapers, stickers, shelves, frame & mirror work, and some other artifacts will experience high demand in the commercial segment. These are cost-effective and time-saving substitutes for conventional painting and furnishing solutions. This will positively affect the market growth through 2028.
Some prime findings of the wall décor market report include:
- Rising inclination toward aesthetic look will fuel the market demand.
- Surging commercial construction activities across the globe will augment the mirror frames growth.
- Trending wooden & nature-influenced furniture and interior design in Europe and the Asia Pacific are driving the market trends.
- The adoption of changing technologies, including wall printing, laminates, printed graphics, and dry printing, is the major factor in the evolving tech-based interior designing industry.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Wall décor industry 360º synopsis, 2018 - 2028
2.2 Business trends
2.3 Product trends
2.4 Distribution channel trends
2.5 End-Use trends
2.6 Regional trends
Chapter 3 Wall Décor Market Insights
3.1 Introduction
3.2 Industry landscape
3.3 Industry ecosystem analysis
3.4 Pricing analysis
3.5 Regulatory landscape
3.6 Global construction industry outlook
3.7 Industry impact forces
3.7.1 Growth drivers
3.7.1.1 Growing home décor industry across the globe
3.7.1.2 Increasing improvement and repair activities in developed nations
3.7.1.3 Rapidly growing construction industry in Asia Pacific
3.7.1.4 Increasing product penetration in commercial construction
3.7.2 Industry pitfalls & challenges
3.7.2.1 Stagnant growth of construction industry in Europe
3.8 Growth potential analysis, 2021
3.9 Global wall décor market outlook
3.10 Innovation & sustainability
3.11 Porter’s analysis
3.12 PESTEL analysis
3.13 COVID-19 impact on Wall Décor demand, by end-user
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
