Europe's Wall Coverings Market (2019-2024) by Product, Application, Geography, with Analysis on Major Players.
M2 PRESSWIRE-April 1, 2019-: Europe's Wall Coverings Market (2019-2024) by Product, Application, Geography, with Analysis on Major Players
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RDATE:01042019
The "Europe Wall Coverings Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.
The Europe Wall Coverings Market is expected to register a CAGR of over 2.54% during the forecast period 2019-2024.
Europe has emerged as the market leader for wallcoverings in the last decade. The European market is expected to witness robust growth and is likely to retain its market leadership over the forecast period.The region has witnessed a significant rise in the construction of new buildings, residential as well as commercial, on the back of low interest rates, good economic growth, and pent-up needs, and these factors have significantly contributed to the growth of home furnishing.
The rise in the number of residential houses or complexes due to an increasing number of nuclear families caused the residential segment to hold the larger share over commercial applications. In the present scenario, wall panels and wallpapers, which are sub-segments of wall coverings, are the dominant products.
The European population has been concerned about the home furniture and decor systems. Owing to the increasing number of high-income population, the spending on home furnishing has increased over the past few years. Due to this demand, European companies are investing significantly in innovative wallcoverings. For instance, Kobe's library offers a wide range of fabrics and wallcoverings to create your own personal statement in interiors.
High inventory costs have been one of the biggest challenges to the growth of the wallcoverings industry. Distributors are needed to stockpile the number of patterns, styles, and raw materials, and store them in controlled environments to protect them from various climatic conditions. Such storage requirements are coupled with very low inventory turnover rates.
While there are a number of wallpaper designs coming up, almost 80% of wallpapers purchased are from just 20% of the designs present in the inventory. This has led to the cost-conscious behavior of the wallcoverings industry.
Key Market Trends
Non-commercial is Expected to Register Significant Growth
The non-commercial applications include the residential usage of wallcoverings. Decreasing average household size, owing to the increasing...
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