Wall Decor Market to Reach USD 87870 Million by 2028 at a CAGR of 3% | Valuates Reports

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12 May, 2022, 18:30 IST

BANGALORE, India, May 12, 2022 /PRNewswire/ -- The Global Wall Decor Market is Segmented by Type (Wall Paper, Wall Mirrors, Wall Art, Others), by Application (Medical & Dental Facilities, Household, Office & Business Medical & Dental Facilities, Restaurants, Cafés & Bars) Opportunity Analysis and Industry Forecast, 2022–2028. It is published in Valuates Reports under the Home & Interior Decor Category.

The global Wall Decor market size is projected to reach USD 87870 Million by 2028, from USD 71270 Million in 2021, at a CAGR of 3.0% during 2022-2028.

Major factors driving the growth are the Wall Decor market:

The wall decor market is expected to be driven by growth in the residential construction industry, rising preference for interior design, and rising disposable income. To improve the interior aesthetics of the home, wall décor products have become popular with almost all newly built residential establishments.

Furthermore, the growing popularity of wallpapers is expected to fuel the growth of the wall decor market. Wallpaper is long-lasting and cost-effective, lasting up to 15 years. When properly installed, wallpaper can last three times longer than paint. If your walls aren't perfect, high-quality wallpaper can help hide them.

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TRENDS INFLUENCING THE GROWTH OF WALL DECOR MARKET:

The Wall Decor 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 well-stated wall. It helps to tie the story together and completes the space. Wall art is a great finishing touch that can elevate the look of a room from functional to polished. Wall art can also help to add color and vibrancy to a room. Wall decor not only adds exuberance and spark to your interiors but also brings life to dull walls.

The growing popularity of wall mirrors as part of interior design is expected to propel the wall decor market forward. A mirror, according to all interior designers and decorators, completes the look of a room. A free-standing mirror or wall mirror is one of the more affordable home, entrance, office, or retail accessories. Mirrors are available in a wide range of shapes, sizes, styles, and designs. A strategically placed mirror can help create the illusion of more space. It reflects the room, giving the impression that it is larger than it is. A small, narrow room can benefit from a wall mirror, or a large mirror can be placed to make the space appear larger.

Employees and clients will be able to see a company's culture through wall decor. It keeps employees focused on your brand's vision and goal while also promoting a positive work environment for visitors. In this competitive world, office wall decor gives you an advantage. Aside from that, engaging and creative decoration benefits employees in a variety of ways. It reduces stress and fatigue among employees. Employees are motivated and inspired when their office walls are decorated with fashionable and positive colors and artwork. Thus the increasing adoption of wall decor in commercial spaces is expected to drive the wall decor market. 

Furthermore, creating a warm and comforting place of healing, fun designs and bright colors can help ease children's fears 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, among other things. Assisting children in maintaining a positive mindset, reducing stress, and improving clinical outcomes are all goals. It is critical to make your dental office as relaxing as possible, whether it is for children, orthodontics, or anything in between. These factors are expected to drive the wall decor market growth.

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WALL DECOR MARKET SHARE ANALYSIS: 

Based on application, Household is the most widely used type which takes up about 40% of the global total. The rising middle-class disposable income coupled with a preference for interior decor is expected to drive the segment growth. 

Based on type, Wall arts are expected to be the most lucrative segment. Wealthy art collectors are particularly interested in acquiring such works for their homes. Furthermore, it is anticipated that, as consumers' disposable income rises, demand for this segment will grow even more in the future.

In recent years, Europe has become one of the world's largest consumers of wall decor, and this trend is expected to continue in the coming years. The European market accounted for about 35% of the global market, with North America accounting for 25% and China accounting for 14%.

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TOP COMPANIES IN THE WALL DECOR MARKET:

The key suppliers in the global Wall Decor market include Bed Bath & Beyond, Home Depot, IKEA, Lowes, Target, Wal-Mart, Art.com, and others. The top five accounted for about a quarter of the global market. Well-known retailers include Bed Bath & Beyond, Home Depot, IKEA, Lowes, Target, Wal-Mart, Costco, and Art.com.

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