Market Trends of United States Wall Covering and Wall Decor Industry
This section covers the major market trends shaping the US Wall Covering & Wall Decor Market according to our research experts:
Increasing Construction Activity to Drive the Market Growth
- Trends like construction spending, real estate costs, the rising cost of home renovations, and business prospects for interior designers are boosting the market for wall coverings and décor in the US. According to the US Census, construction spending during September 2022 was estimated at a seasonally adjusted annual rate of USD 1,811.1 billion, 0.2% above the revised August estimate of USD 1,807.0 billion. The September figure is 10.9 % above compared to September 2021, estimated at around USD 1,632.9 billion.
- The value of new private construction completed in 2022 exceeded USD 1.45 trillion in September, signaling a definite trend in the private sector's investment in the building. As a result, substantial expenditures were made in house remodeling and decoration in the US, which boosted the wallcovering industry there. A similar trend of increased residential construction will drive the demand for wall coverings brought on by the world's growing population.
- The commercial building industry is also expanding. The value of new commercial buildings in the US will increase from USD 47.33 billion in 2012 to USD 99.42 billion in 2021, according to the FMI Corporation. The market expansion in the area is also anticipated to be boosted by technological developments in wall coverings, such as inkjet printing (expected to emulate the texture, design, and appearance of natural wood and stone).
- The market vendors concentrated on developing new items to fulfill the surge in demand brought on by the boom in residential development. Sublimation printing is gaining traction in the textile printing market for home decor. It also includes wallcoverings made of printed cloth. With the aid of modern printing technologies, vendors in the market are expanding their product innovations.
- For instance, Beaver Paper Group, a well-known producer of sublimation media, introduced their new TexStyles FashionWalls in September 2021. This new range of printable fabric wall coverings enables consumers to create patterns to suit any atmosphere. FashionWalls is abrasion-resistant, washable, and durable. It comes in two versions-latex/UV and dye-sublimation-and is constructed entirely of knit polyester.
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Tiles to Hold Significant Market Share
- The tiles considered under the scope include ceramic, porcelain, marble, and other tiles. These wall-covering tiles are of different sizes and are fixed on walls using adhesives. NITCO, one of India's leading surface design companies, participated in the recently concluded Coverings 2022 event held in Las Vegas, USA. Also, in April 2022, NITCO introduced its new wall tiles and mosaics for the second consecutive year in the US.
- Ceramic wall tiles are rapidly replacing traditional wall covering materials, such as paints and wallpapers, due to their durability, stain and scratch resistance, and low maintenance properties. Furthermore, the growing adoption of ceramic wall tiles as a low-cost alternative to marble and other natural stone slabs further creates scope for the market.
- According to the Tile Council of North America (TCNA), Ceramic tile sales and consumption are intimately related to the residential new homes market. In 2021 3.11 billion sq ft of ceramic tile were consumed in the US as ceramic tiles are affordable, practical, and simple to maintain regarding flooring and wall decor.
- Designer tiles are gaining momentum in the commercial industry, with businesses exploring new designs to improve infrastructure appeal. Marble tile brings a sense of elegance and timelessness to any space. Even after the higher initial cost of wall tiles, factors such as attractiveness, longevity, and durability have made tiles one of the most sought-after wall covering products.
