Digitally Printed Wallpaper Market
The global digitally printed wallpaper market is expected to grow at an unprecedented rate due to changing consumer lifestyles and increased demand for home decor products. Rapid urbanization and the growth of new housing projects are important factors driving the growth of the market. In addition, the growing emphasis on better aesthetics and the growing demand for interior design is giving impetus to the growth of the market. The current trend of customizing digitally printed wallpapers is driving the growth of the market. Environmental concerns have led to several advancements in materials, which has increased the demand for environmentally friendly, durable and better looking wallpapers.
Digitally Printed Wallpaper Market
Unclog interior design trends to drive market growth
The shift in consumer preferences towards aesthetics has exploded the demand for custom furniture, wallpapers, laminates and other interior items. Consumers prefer digitally printed wallpapers over traditional paints and coatings for their durability and wide variety. With this in mind, interior designers make extensive use of digital wallpapers to add texture, style and color to homes and other spaces, thus driving the growth of the market.
Growth in construction activity and increase in residential spending
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Global economies have witnessed a massive influx of people from rural to urban areas, further increasing infrastructure spending across the globe. In the United States, residential spending reached about $ 1.31 trillion in 2017. This has led to countless residential projects coming from many parts of the economies. The info-graphic below illustrates private residential construction spending in the United States for the period 2015-2020.
Residential-construction-expenses-in the United States
According to the above statistics, residential construction expenditure in 2019 was $ 5,091,091 million and is expected to reach $ 5 64,575 million in 2020. Thus, the escalation of housing projects will have a positive impact on the demand for wallpapers. digital during the forecast period.
The increase in purchasing power increases the demand for various consumer items such as cars and houses. Buying a home is one of the top priorities for most millennials around the world. Millennials are inclined to personalize homes and are willing to pay a premium price for quality home products. In addition, social media platforms such as Pinterest and Instagram have allowed people to be exposed to the latest trends, thus driving the growth of the market.
Digital wallpapers allow designers to customize the look consumers want. Most custom printed wallpapers have gained traction in restaurants, hospital lobbies, businesses, and home interiors. Advances in technology have enabled designers and developers to generate digitally printed wallpapers from the internet for millennials, giving a boost to the growth of the market.
Increase commercial space to fuel market growth
Today, the use of digitally printed wallpapers is not limited only to the residential sector, but is also widely demanded in commercial spaces, including hospitals, shopping malls, spas, corporate complexes, gymnasiums, exotic clothing showrooms and various other venues. The hectic lifestyles of consumers and the increasing stress of urban dwellers are ultimately driving the demand for personalized spa services. The spa industry is widely adopting the use of digitally printed wallpapers, as they help create a calming environment and enhance the aesthetics of the place.
In the United States, over half a million people visit spas daily, with the number of spas reaching 21,700 in 2018. The strong performance of the spa industry is a key backdrop against which to assess the upward trajectory of the spa. digitally printed wallpaper market.
Additionally, graphics help deliver a marketing or corporate message in office and business environments. In the context of a favorable government ecosystem, we are witnessing an increase in the number of start-ups and commercial activities in the world. Digitally printed wallpapers help companies promote the brand and create the ideal working environment. The design of the offices and the colorful spaces have been proven to increase the productivity and motivation necessary for the company to achieve the set objectives. Sometimes, they are even used to achieve greater efficiency at work and to distinguish between different departments or work areas of a building or corporate office, thus boosting the growth of the market.
Digitally Printed Wallpaper Market: Segmentation
Inkjet technology segment will hold a quarter of the market share
The inkjet process of developing digitally printed wallpaper has added tremendous value to the world market. The major players are focused on providing a personalized experience for customers, further promoting the use of the inkjet process. Several companies are taking advantage of growing opportunities by adopting inkjet technology for personalized printing while focusing on the consumer experience. In 2012, the inkjet technology segment accounted for over 20% market share and is expected to hold around 35% market share by 2019. The emergence of on-demand inkjet technology ( DOD) allows the printer to produce ink drops. as needed to build the design. Currently, DOD is the dominant digital technology for printing wallpapers and is also used in large printers.
Commercial sector: largest consumer of digital wallpapers
The commercial sector segment holds the highest market share due to the increasing adoption of digital wallpapers by the commercial sector. The growth of restaurants and hotels around the world is driving the demand for digitally printed wallpapers. Several fast food chains, such as McDonald’s, attract customers by using vibrant graphics and eye-catching colors to redesign their stores. Digitally printed wallpapers are widely used in the hospitality industry to create an attractive environment for customers. The increase in the number of international travelers across the world has resulted in the development of several hospitality projects, further stimulating the growth of the market.
Growing Customer Demand for Personalized Interior Decorations Drives European Market Growth
Europe dominates the digitally printed wallpaper market during the forecast period. The European decoration industry is growing at a rapid pace and is expected to reach USD 120 billion by 2024. In Europe, the market for the sale of online home furnishings is growing rapidly, amounting to 50 billion USD in 2019. Growing customer demand for personalized interior decorations and the presence of leading players such as IKEA and other digital wallpaper printers is accelerating the market growth.
Rise in Home Improvement and Renovation Projects Drives Market Growth in Asia-Pacific
Asia-Pacific is expected to show lucrative growth in the digitally printed wallpaper market due to rising living standards and increasing disposable income. The booming home improvement and renovation projects are boosting the growth of the regional market. In addition, the increase in housing projects and the growing demand for interior design at affordable prices are driving the growth of the market. The info-graphic below depicts the estimated market potential for the regions during the forecast period 2020-2029.
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Digitally Printed Wallpaper Market
Decorative solutions Muraspec
Tapetenfabrik Gebr. Rasch GmbH & Co. KG
Graham & Brown
MX Display Ltd.
The printed wallpaper company
Custom coatings of the great wall
In September 2019, Muraspec Decorative Solutions launched two new digitally printed wallpaper brands and designs: Herringbone and Accord form special inks for the luxury segment.
In July 2019, Hollywood Monster invested in 11 EFI VUTEk printers for $ 5.6 million to increase productivity to meet the growing digital printing market.
In November 2018 Rasch GmbH & Co. KG added new wallpapers to the Portfolio Paper Collection to enrich the product range.
In August 2017, The Printed Wallpaper Company introduced wallpaper designs and murals for nurseries and toddlers. In addition, the company has introduced personalization services for children’s room wallpapers with comic themes, especially made from eco-friendly ink.
Digitally Printed Wallpaper Market Segmentation
By printing technology
By end user
The Middle East and Africa
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