PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1446991
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1446991
According to Stratistics MRC, the Global Digitally Printed Wallpaper Market is accounted for $3.2 billion in 2023 and is expected to reach $11.8 billion by 2030 growing at a CAGR of 20.2% during the forecast period. Digitally printed wallpaper refers to wall coverings produced using advanced printing technology. This process involves transferring digital images or designs onto wallpaper material, offering a wide array of customization options. These are versatile and suitable for various spaces, including homes, offices, and commercial establishments. Its seamless integration of technology and aesthetics provides an innovative solution for interior decoration, allowing individuals to express their unique style preferences with ease and precision.
According to NAR Realtors, the typical age of a home in the United States is 39 years, and over 50% of houses in the country were constructed before 1980.
Growing preference for eco-friendly
Demand for eco-friendly and a sustainable home decor option is rising as consumers become more conscious of environmental issues. By providing environmentally friendly substitutes for conventional wallpaper production techniques, digitally printed wallpapers aim to satisfy this demand. Further, they often adhere to stringent environmental standards and certifications, providing assurance to consumers concerned about the environmental impact of their purchasing decisions, which thereby drives this market size.
High initial investment
Investing in digital printing equipment, such as printers, ink systems, and software, entails substantial upfront costs that can be prohibitive for small to medium-sized enterprises (SMEs) or startups. The cost of setting up a production facility equipped with the necessary infrastructure further adds to the initial investment burden. Moreover, for businesses operating on tight budgets, securing financing or capital investment to cover these expenses can be challenging, which gradually hinders market growth.
Rising urbanization and interior design trends
Urbanization trends have led to an increasing number of people living in urban areas, where space constraints often drive the demand for innovative interior decor solutions. They cater to these trends by offering an extensive range of designs, colors, and patterns, allowing consumers to personalize according to their preferences. Furthermore, the convenience and affordability of digitally printed wallpapers make them particularly appealing to urban consumers who may be renting or living in smaller spaces, which significantly boost this market further.
Environmental impacts
The use of solvent-based inks in digital printing can emit volatile organic compounds (VOCs) into the atmosphere during printing and drying processes, which causes adverse effects on human health and the environment. The disposal of digitally printed wallpapers at the end of their lifecycle poses challenges in terms of waste management and environmental sustainability. Additionally, using significant amounts of energy and water resources contributes to carbon emissions and water pollution, thereby impeding this market expansion.
Covid-19 Impact
The digitally printed wallpaper market experienced several negative impacts due to the COVID-19 pandemic. Many consumers prioritized essential purchases, delaying or canceling discretionary spending on interior decoration projects, leading to decreased demand for these wallpapers. Additionally, disruptions in supply chains and manufacturing operations caused delays in the production and distribution of digitally printed wallpapers, frustrating both manufacturers and consumers, which is hampering this market expansion.
The fiberglass segment is expected to be the largest during the forecast period
The fiberglass segment is estimated to hold the largest share due to the base material of fiberglass, known for its durability, flexibility, and resistance to moisture and tearing. find applications in both residential and commercial settings, offering a solution for interior decoration that balances aesthetic appeal with practicality. Furthermore, this combination of advanced printing techniques with resilient fiberglass material results in good wallpapers with stunning visuals, which gradually propel this segment's expansion.
The inkjet segment is expected to have the highest CAGR during the forecast period
The inkjet segment is anticipated to have highest CAGR during the forecast period due to a leading technology for producing high-quality wallpapers with exceptional detail and color accuracy. Inkjet-printed wallpapers offer versatility in customization, allowing for the creation of bespoke designs, personalized patterns, and even photo-realistic imagery. Furthermore, this flexibility makes them a popular choice among homeowners, interior designers, and commercial decorators, significantly driving this segment's growth.
Europe commanded the largest market share during the extrapolated period, owing to a growing trend towards interior customization and personalization. Advancements in digital printing technology have led to improvements in print quality, efficiency, and cost-effectiveness. Additionally, many European countries have stringent regulations regarding environmental impact, prompting the development of eco-friendly wallpaper options, which are boosting this segment's size.
North America is expected to witness highest CAGR over the projection period, owing to a combination of technological innovation, shifting consumer preferences, and a diverse range of applications across residential, commercial, and hospitality sectors. This region is home to some of the key players, such as Canon Inc., Epson Corporation, and HP Inc. Moreover, with a growing emphasis on personalization and customization in interior design, digitally printed wallpapers have gained significant traction in North America.
Key players in the market
Some of the key players in the Digitally Printed Wallpaper Market include Muraspec Decorative Solutions, A.S. Creation Tapeten, Graham & Brown, Flavor Paper, The Printed Wallpaper Company, Moonavoor Sisustus, Arte International, Tecnografica, Astek, Momentum Textiles & Wallcovering and Grandeco Wallfashion Group Belgium NV.
In February 2024, Astek announces the acquisition of Simelabs, an Indian software engineering company. This is astrategic step in Astek's global growth: Astek establishes a foothold in India and significantly strengthens its presence in the United States.
In July 2021, Grandeco Wallfashion Group is pleased to announce the acquisition of the entire shareholder equity in Wall!Supply, the market leader in decorative 3D panels.
In June 2021, Grandeco Wallfashion Group - Belgium is delighted to announce its acquisition of the entire share capital of Holden Decor Limited, one of the leading wallcovering companies in the UK, from D&V Holden Limited for an undisclosed consideration.