BANGALORE, India, May 12, 2022 /PRNewswire/ — The Global Wall Decoration Market is segmented by Type (Wallpaper, Wall Mirrors, Wall Art, Other), By Application (Medical & Dental, Household, Office & Business Medical & Dental, Restaurants, Cafes & Bars) Opportunity Analysis & Industry Forecast, 2022-2028 . It was published in Valuation Reports below the Home and interior decoration Category.
The global wall decor market size is projected to reach: USD 87870 million by 2028, from USD 71270 million in 2021, with a CAGR of 3.0% in 2022-2028.
The key factors driving its growth are the Wall Decor market:
The wall decoration market is expected to be driven by growth in the residential construction sector, an increasing preference for interior design and rising disposable income. In order to improve the interior aesthetics of the house, wall decoration products have become popular with almost all newly built home furnishings.
In addition, the growing popularity of wallpaper is expected to drive the growth of the wall decoration market. Wallpaper is durable and cost effective, up to 15 years. When properly installed, wallpaper will last three times longer than paint. If your walls aren’t perfect, high-quality wallpaper can help hide them.
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TRENDS THAT INFLUENCE THE GROWTH OF THE WALL DECOR MARKET:
The wall decoration market is expected to be driven by rising disposable income among the population in developing countries, as well as a growing preference for interior design. The room is perfectly finished with a sleek wall. It helps to tie the story together and makes the space complete. Wall art is a great finishing touch that can elevate the look of a room from functional to polished. Wall art can also help add color and vibrancy to a room. Wall decoration not only adds exuberance and sparkle to your interior, but also brings life to boring walls.
The growing popularity of wall mirrors as part of interior design is expected to propel the wall decoration market forward. According to all interior designers and decorators, a mirror completes the look of a room. A freestanding mirror or wall mirror is one of the more affordable living, entry, office or retail accessories. Mirrors are available in a wide variety of shapes, sizes, styles and designs. A strategically placed mirror can help create the illusion of more space. It reflects the space and gives the impression that it is bigger than it is. A small, narrow room can benefit from a wall mirror, or a large mirror can be placed to make the room appear larger.
Employees and customers can see the culture of a company through wall decoration. It keeps employees focused on your brand’s vision and purpose while promoting a positive work environment for visitors. In this competitive world, office wall decoration gives you an advantage. Apart from that, captivating and creative decoration benefits employees in various ways. It reduces stress and fatigue in employees. Employees are motivated and inspired when their office walls are decorated with fashionable and positive colors and artwork. Therefore, the increasing adoption of wall decoration in commercial spaces is expected to boost the wall decoration market.
In addition, creating a warm and comforting place of healing, fun designs and bright colors can reduce children’s fear of being in an unfamiliar building. Art is an important aspect of the hospital experience for children. This includes providing visual entertainment, distraction and engagement. Helping children maintain a positive mindset, reduce stress, and improve clinical outcomes are all goals. It is critical to make your dental practice as relaxed as possible, whether it be for pediatrics, orthodontics or anything in between. These factors are expected to drive the growth of the wall decoration market.
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WALL DECOR MARKET SHARE ANALYSIS:
Based on application, Household is the most commonly used type accounting for about 40% of the global total. The rising disposable income of the middle class coupled with a preference for interior decoration is expected to drive the growth of the segment.
Based on type, Wall arts is expected to be the most lucrative segment. Wealthy art collectors are especially interested in acquiring such works for their homes. In addition, as consumer disposable income rises, demand for this segment is expected to grow even more in the future.
In recent years, Europe has become one of the world’s largest consumers of wall decoration and this trend is expected to continue in the coming years. The European market accounted for about 35% of the world market, with: North America good for 25% and China good for 14%.
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TOP COMPANIES IN THE WALL DECOR MARKET:
The major vendors in the global Wall Decor market are Bed Bath & Beyond, Home Depot, IKEA, Lowes, Target, Wal-Mart, Art.com, and others. The top five represented about a quarter of the world market. Notable retailers include Bed Bath & Beyond, Home Depot, IKEA, Lowes, Target, Wal-Mart, Costco, and Art.com.
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