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According to the latestresearch report titled “Digitally Printed Wallpaper MarketForecast to 2027–COVID-19 Impact and Global Analysis,” published by The Insight Partners, the global digitally printed wallpaper market was valued at US$ 3,253.3 million in 2019 and is projected to reach US$ 17,676.0 million by 2027; it is expected to grow at a CAGR of 24.2% from 2020 to 2027.
Digitally Printed Wallpaper Marketin MEA to Grow at Highest CAGR during Forecast Period
The digitally printed wallpaper market in MEA is segmented intoSouth Africa, Saudi Arabia, the UAE, and the Rest of MEA. The MEA is projected to have a rapid rise in urbanization and industrialization, which would further improve the growth of diverse industries in the coming years. The growing demands foradvanced digital technology,rising living standard of the population, surging per capita income, recovering economic conditions, and increasing government spending toward infrastructure development of the regiondrive the digitally printed wallpaper market across the MEA.
Increasingadvancements in printing technology play a vital role in the transformation of the interior decor market toward the digital revolution. Further, the construction industry in Middle East iswitnessing important changes due to rising trade liberalization, internationalism, and globalization. Consequently, construction projects create enormous opportunities for infrastructure development across the region. Large construction projects promote Environment, Health, and Safety (EHS) communities to ensure all newly constructed and renovated buildings comply with rules and regulations related to safety and environment conservation. Governments are initiating several new housing projects for the next decade.The digitally printed wallpaper market growth in this region is supported by smart city initiatives, new infrastructural projects in the pipeline, blooming tourism industry, increasing population, technological innovations, and favorable government policies.
Key Findings of Study:
The organic growth of the construction industry with the demand for aesthetic and personalized interior is expected to offer lucrativeopportunities for the digitally printed wallpaper market. Due to rapid industrialization and urbanization through significant investment in the infrastructure and industrial sectors, the demand for new buildingsis projected to spur worldwide during the forecast period. In addition, increasing demand for interior design and surging number ofconstruction activities are expected to generate market growth in developing countries over the coming years. New buildings and remodeling/refurbishment schemes in the construction industry and rapid urbanizationhave seen developments in the demand for digitally printed wallpapers.Besides,exponential increase has led to the surgein demand for better aesthetics, particularly in residential buildings. In addition, global health and environmental concerns create the demand for environmentally sustainable wallpapers. The digitally printed wallpaper market is expected to grow in the coming years due to production of innovative materials and greater emphasis on aesthetics and longevity.
Technological innovations in digital printing allow people to decorate their houses with striking wallpapers at a low cost. Moreover, increase in disposable income in the developing economies is allowing people to be aesthetically engaged. Traditional artwork is monotonous for the general population due to the lack of clarity and detailed imagery. In comparison to other industries, digital printing technologies have not completely consumed wallpaper. But it's only a matter of time before anyone else takes on new ways of printing with the winds of change. A bold leap can be made in wallpaper printing a digital hop with so much tradition and culture. Consumers want to experience innovative designs.Many industrial and commercial companies to install digitally printed wallpaper in their buildings. With the rising production of advanced digitally printed wallpaper with remotely operated sensors, the investments in digitally printed wallpaper market are increasing. Demand is also expected to be guided by government policies aimed at improving energy efficiency across sectors combined with technological advancements. Increasinginvestment in the construction industry would also contribute to the product demand in the next few years.